Pay off then sell and buy another one or change to private to restretch the loan and get lower rates.
Originally Posted by
richwang
My Friend has a Bank loan for HDB, the outstanding amount is about $90k. She has just got the letter from the bank to change the rates from 2.38% to 4.35%!
I have checked with other banks for refinancing, they are not keen because the amount is less than $100k.
I then asked the bank for repricimg, they say it can offer below 2%.
We are going to the bank to do the paper work next Monday. What are the catches we need to watch out? (Lock in? Floating? Etc)
How about if my Friend just pay it in full?
Thanks a lot!
The three laws of Kelonguni:
Where there is kelong, there is guni.
No kelong no guni.
More kelong = more guni.