Anyone took the 5 years fixed rate loan with DBS? Seems like a good loan package for people who feel interest will rise.
Anyone took the 5 years fixed rate loan with DBS? Seems like a good loan package for people who feel interest will rise.
In the final analysis.....its NOT whether you have a diploma,degree,masters OR PHD....its whether you have a HDB/PC/EC or LANDED...
re finance now will kana TDSR.
“Nothing in the world is more dangerous than sincere ignorance and conscientious stupidity.”
― Martin Luther King, Jr.
OUT WITH THE SHIT TRASH
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“Nothing in the world is more dangerous than sincere ignorance and conscientious stupidity.”
― Martin Luther King, Jr.
OUT WITH THE SHIT TRASH
https://www.facebook.com/shutdowntrs
those people who are hit by tdsr of 60% do not have a choice of repricing or refinancing. they simply have to stomach the `thereafter loan rates' of whichever package they signed up previously.
i know cos my thereafter rate kicked in at 1.9+ % after 2 years. anyway repriced back to 1.1% with free conversion (but was 1 month late in activating the repricing - found out later that can actually activate this 2 months before expiry - fyi). repricing needs to resubmit all documents too, same as in refinancing. very troublesome, fortunately i was the last batch to be exempted for that weekend 1 month ago.
and if the documents submitted for re-pricing shows that not eligible for the loan, what happens or still can just accept the whatever exhorbitant rates?
i had started another thread to discuss this:
http://forums.condosingapore.com/showthread.php?t=19757
no implication for those with just one mortgage right?
does not affect most people except those who overleverage with no safety net. last time people remember the ltv 80% - 60% - 40%. banks have tdsr 60% / 50% as you mentioned on per project basis.
with this true tdsr (like "the one ring that rules them all"), ALL loans are called in. plus haircuts are applied to those on commissions etc. generally this is a far-reaching across the board financial clamp. the effects are starting to be felt, that's why some are starting to realise its implications, though it has been discussed and highlighted by astute bros even in the initial tdsr thread.
Dunno what is the percentage of QE3 easing/reduction in the next round.
Bank rate may go up higher anytime leh. Sibor was definitely a good choice 2-3 yrs back.
Federal reserve will keep their momentum to ease more of QE3. Interest rate should go up higher in 2015. Perhaps such dbs package is to knock other competitors up. fixed up at 1.88% may be good for the next 5 yrs.
1.88% is fixed for the next 5 yrs may be quite attractive. Currently, i am paying lesser interest and it seems to be reaching to 1.88 in 1 yr or so.
But if it is 100% assured in the way you mentioned about DBS's confidence towards the market, floating rate is still the best.