Chip Bee Gardens at Holland Road, Singapore

By shirleytan | Published: January 26, 2012

Where do you eat at Chip Bee Gardens? Ask for the resto with fish and cognac at the Chip Bee Gardens and you will be straight away referred to this enterprising stall owner who has carved a niche of adding XO to traditional fish menu. The Holland Village XO Fish Head Bee Hoon Restaurant at the Blk 46 Holland Drive offers fish noodles with some drips of fancy cognac. Are you trying to crack your head what type of environment best suits your lifestyle? Chip Bee Gardens is a place that matches people with high-end lifestyle and who love to live in a quiet place. Looking for a place to chill out after a day’s work? Looking for an environment with perfection and class? Explore the Chip Bee Gardens at Holland Road. The location of the place is 153 Holland Road, Singapore 278581. You can access the place using the Holland Village MRT Station or the Clementi Bus Interchange.

Need some time out? Go to the Chip Bee Gardens and browse on the antique shops and restaurants from the Jalan Merah Saga to the Dempsey Road. Contact us at +65 9782-8606 (SMS) or

Enquire about home loan mortgage in Singapore

loans@propertybuyer.com.sg

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Holland Road Singapore – Upscale Shops and Restaurants

By shirleytan | Published: January 19, 2012

Holland Road is the bohemian enclave of Singapore expats that displays contemporary art from both art shops and antique stores dealing in furniture. It has always something unique and fashionable for everyone from designer wear to accessories. It is an elite district located in District 10 of Singapore. It is a district where your eating and shopping hobbies are well responded with unique goods and upmarket kind of shops. The high concentration of eateries usually offer European cuisine especially gourmet. The Rochester Park and the Tanglin Village created a reputation for upmarket dining areas. You can always browse at the local shops after dinner and see fabulous knick knacks and other unique wares.

If you love a lifestyle that resembles the rich and the famous, contact us at +65 9782-8606 (SMS) or

Enquire about home loan mortgage in Singapore

loans@propertybuyer.com.sg

Nearest MRT Stations:
BOUNA VISTA MRT STATION (EW21)
100, North Bouna Vista Road, Singapore 139345
How Far? 1.4km

COMMONWEALTH MRT STATION (EW20)
375, Commonwealth Avenue, Singapore 149735
How Far? 1.5km

QUEENSTOWN MRT STATION (EW19)
301, Commonwealth Avenue, Singapore 149729
How Far? 2.2km

Nearest Shopping Centres/Malls:
HOLLAND VILLAGE SHOPPING CENTRE
2, Lorong Mambong, Singapore 277671
How Far? 0.5km

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Will the prices of your homes get affected by the increased of HDB income ceiling? Part 3

By shirleytan | Published: November 4, 2011

Let us ask ourselves which agency has the authority over the sale of HDB flats. Is it the SLA or the HDB? The SLA stands for the Singapore Land Authority while the HDB stands for the Housing Development Board. Any buyer of HDB flats has the right to buy resale flats, EC units, original flats, and DBSS flats from any developer two times only.

HDB is Singapore’s public housing authority. The approval for land ownership under the Residential Property Act is being taken cared of by the SLA. All interested buyers for HDB properties are required to directly inquire and coordinate with the HDB agency. The SLA manages the land sale system for the public except the HDB units. However, the SLA makes sure that the sales of lands including HDB are being conducted in a transparent manner and in most competitive public tenders.

An increase in the prices of DBSS will pave way for the BTO to increase their prices also. This would potentially create future expensive HDB flats. The implication would be forming a certain kind of minimum pricing for the land that would serve as the basis for prices of other types of housing units. The only factor that we can see causing a disruption to the pricing is the wrong interpretation of the supply and demand situation. Had there been correct interpretation without commercial implications, the pricing would be fully considering the cases of the local consumers alone.

Often, the newly weds became the victims of mistaken interpretation and wrong solution or approaches of the government about HDB housing income ceilings because it greatly affects their eligibility to become eligible buyers of the HDB flats. If you are newly weds trying to create better life together, there could be difficulties in meeting the total income ceiling requirement. If the aim of the government is to provide access to better and affordable housing loans, the plight of the newly weds must be considered. Where will these couples go?

It was suggested by one of the commercial property buyers that the income ceiling should be compared and reviewed against the current take home pay of the newly weds to be more realistic in its approach. The Prime Minister should take into consideration the real time take home pay. Can the newly weds afford the high income ceiling rate? If they cannot afford it, there could be potential problems that may arise from their inability to meet the income ceiling requirement that the government should look into.

The idea of controlling people and telling them to marry late is never a good idea. It would be difficult to tell couples when to marry. Controlling other people do not usually, work because it carries negative perceptions and most of them will not accept or follow. The demand for housing will always rise when population increases. Besides, there is always the foreigners and permanent residences migration pattern to study.

Higher income ceiling does not solve the problem but creates other problems. If we are to look at the total income of the couples or singles per month, then we can tell that it is not advisable to raise the income ceiling. The high cost of living in Singapore is another factor to consider. Can the Prime Minister do something to regulate the cost of goods sold in the local market or groceries?

Most people wait for about 2 to 3 years to be able to purchase a BTO flat. The prices will greatly affect their budgets. How do we solve this problem? One suggestion is to raise the income ceiling by category. Of course, the foreigners and Permanent Residence individuals need to pay more than the locals. For example, if the income ceiling of the Singaporeans will be $12,000 then the foreigners and PR’s would then be $15,000 on resale HDB. At present, there is no income ceiling for resale HDB.

This will create a diversion tactic for PR’s to consider purchasing private properties and the Singaporeans to be prioritized for HDB resale flats sale. This is a great technique to give time for PR’s and foreigners to think about buying private properties, which will decrease the demand for the HDB flats considerably. What is the goal of the Singaporean government? This matter needs a review of their priorities.

As far as the overall situation is concern, I would say that the increase for the new HDB flats is not appropriate. The population that will suffer is most likely the locals from the domino effect of the price increases. The idea will close the gap between the prices of the HDB flats and the current resale HDB flats. The best way is to facilitate the completion of the construction of the HDB flats and not raising the income ceiling.

The price schemes should be focused on the locals especially the newly weds or even the singles. The DBSS private developers and other property buyers should be the last priority. The best approach is to survey the income structure of the consumers for the HDB flats and see if they are able to cope up with the income ceiling.

One may think of imposing more restrictions on the paper requirements. Increasing the pricing will result to more complications than good outcomes. It is the responsibility of the government to manage the health of the locals, one method of which is to provide better access to affordable housing programs such as the HDB. Closing the gap between the resale and new HDB prices will result to an orderly market where the locals will be prioritized for the HDB flats and the Permanent Residents or foreigners will be offered the private property.

The economic goals of the sale for the HDB land might have been the main reason for the disruption of supply concerning HDB flats from 2006 to 2010. This should be a good model on ways identifying consumers for specific categories of real estate properties, regulating pricing, and balancing supply with demand.

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Will raising the ceiling for the HDB income affect prices of your homes? Part 2

By shirleytan | Published: October 28, 2011

Most newly weds cannot afford the executive condominium type of homes. The executive condominiums have higher pricing level and HDB restrictions than the regular condominiums. One of the restrictions implemented by the HDB is the 5 year minimum occupation of the occupant. The occupant may however ask for the housing to become a private estate after 10 years. The latest sales launch in Singapore were made by the following developers

  1. FCL Compassvale Pte Ltd at the Esparina Residences
  2. MCC Land (Singapore) Pte Ltd at the Canopy
  3. Punggol Field EC Pte Ltd at the Prive
  4. Maxdin Pte Ltd & Lee Carriers Pte Ltd at the Austville Residences
  5. Pasir Ris EC Pte Ltd at the Belysa
  6. Qingdao Cosntruction (Singapore) Pte Ltd at the RiverParc Residence
  7. Grand Isle Holdings Pte Ltd at the Blossom Residences

Here is the list for future EC development in Singapore

  1. Hoi Hup Realty Pte Ltd at the Tampines Avenue 8
  2. Camborned Developments Pte Ltd at the Choa Chu Kang Drive
  3. Sim Lian Land Pte Ltd at the Tampines Central 7
  4. FCL Tampines Court Pte Ltd & Keong Hong Construction Pte Ltd at the Punggol Way Punggol Field

The executive condominium housing type in Singapore started in 1996 as a way for the government to raise the standard of living and change the town image of most places in Singapore to a better up market residential area. The architecture and design of the executive condominiums were inspired from the styles and layout of private condominiums. The government’s economic plans on raising or meeting the match of the income level of the population evolved from recycling condominium formula. The design was to make housing accessible to the larger population with lower budget.

The main goal of the Executive Condominium Housing Scheme was to provide access to couples whose total monthly income does not exceed $10,000. This broadens the supply for private housing through the indirect financing by the state. The income ceiling for the household to become eligible for the executive condominium housing is $10,000 per month. Buyers were required to pay at least 20% down payment or equity in cash and settle the remaining balance through monthly installments. The occupants were allowed to sell the flat to foreigners only after tenure of 5 years.

What is the HDB flats average resale price?

It can be sensed that the HDB flats are not clear even in the annual report. We could give the range of the HDB flat prices and the statistics for the demand and supply for the HDB flats collected from different regions in Singapore.

The price range of the HDB flats were the following based on the information on the 2009 to 2010 housing statistics

  1. Jurong West offered $86,000 to $103,000 for a 2 room condo, $138,000 to $173,000 for a 3 room condo, and $223,000 to $266,000 for a 4 room condo.
  2. Choa Chu Kang offered $140,000 to $169,000 for 3 room condo and $225,000 to $278,000 for a 4 room condo.
  3. Bukit Panjang offered $72,000 to $94,000 for a 2 room condo, $125,000 to $157,000 for a 3 room condo, and $210,000 to $250,000 for a 4 room condo.
  4. Woodlands offered $141,000 to $175,000 for a 3 room condo and $228,000 to $288,000 for a 4 room condo.
  5. Sembawang offered $83,000 to $104,000 for a 2 room condo, $128,000 to $172,000 for a 3 room condo, and $212,000 to $275,000 for a 4 room condo.
  6. Punggol offered $89,000 to $114,000 for a 2 room condo, $151,000 to $188,000 for a 3 room condo, and $234,000 to $322,000 for a 4 room condo.
  7. Sengkang offered $74,000 to $98,000 for a 2 room condo, $116,000 to $171,000 for a 3 room condo, and $203,000 to $271,000 for a 4 room condo.
  8. Hougang offered $88,000 to $111,000 for a 2 room condo, $142,000 to $182,000 for a 3 room condo, and $231,000 to $288,000 for a 4 room condo.

The prices indicated above were the actual pricing under the BTO program. Based on the listing, we can say that the couple’s total income should be at least below $8,000 in order to qualify for the BTO flats offered by the HDB. The BTO is about 20 to 30% cheaper than the prices of resale flats. The Prime Minister of Singapore also officially declared this statement.

Resale flats income ceiling level

There should be no ruling on ceiling income for resale flats. This is only agreeable if you are thinking of getting a HDB loan or housing grant. However, looking at the HDB website, the income ceiling for buying a 3 room mature town estates, 3 room premium, or 4 room bigger flat should not exceed $10,000. If you need to buy a flat for an extended family, then your income should not exceed $15,000. If the income ceiling is eliminated, then more demands would be seen each year especially those coming from permanent residents. The ceiling income resale HDB makes it impossible for first time buyers to meet the increase of resale prices from HDB.

Let us take a look at the population statistics from 2008 to 2010. In 2008, there were about 3,642.7 permanent residents combined with Singaporeans out of the total population of 4,987.6 in Singapore. In 2009, there were about 3,733.9 permanent residents combined with Singaporeans out of the total population of 4,987.6 in Singapore. In 2010, there were about 3,771.7 permanent residents combined with Singaporeans out to the total population of 5,076.7 in Singapore.

The chart for supply and demand including the population increase tells us only one thing. There would be increasing consumers for the HDB flats in Singapore and if the government continues the agenda of simply raising income ceiling and pricing to deter demand, then it would be impossible for these people to gain access to low cost decent housing. The top government officials should know that the answer to the increasing demand is absolutely not raising income ceiling and pricing of the housing units. Even though this could delay expression of interest from interested buyers, it still cannot eliminate the demand. The impact is on the capability of the interested low income buyer to access decent low cost housing. Did the government ever think about the impact to low income buyers? Where will these people go?

What is the implication about higher income ceiling to low income interested consumers?

The demand curve would never be changed by merely increasing the income ceiling but another housing program might do. Even if the income ceiling would be raised to $10,000 from $8,000, there would still be more demands because HDB flats would still come out the cheapest among the housing units for sale in Singapore. This is the main reason it would be difficult for the government to create a big decline with regards to the interest of the people to buy an HDB flat.

Income ceiling and its role in housing loan access

The maximum loan amount for $8,000 income ceiling is only $890,000. The maximum loan amount for $10,000 income ceiling is $1,113,000. The amounts were based from home loan calculators in Singapore.

Relationship of raising income ceiling to developers

The developers may find the additional mark up of $223,000 interesting as a result of the increase in the income ceilings. There would be more bidding from the developers and more aggressive buying of lands and contracts. The $223,000 was the difference between the income ceiling values of $113,000 and $890,000.

The big difference between the income ceilings is undoubtedly raising hopes for developers to make more profits that would lead to more biddings on land and housing projects. The government would take this movement as a good timing to increase the prices of the real estate properties specifically land market values. The potential HDB buyers might take the succession of events as income tax and price increase burden including loan requirements. However, this could increase the government revenues.

The least undesired effect is the government to be possibly controlling union between couples. This is possible by pushing couples to decide to marry late because their combined income won’t be enough to keep them independent. The requirements for eligibility of buying HDB properties would be stiffer then because of the high demand and aggressive movements of the property buyers. In this case, there would be competition between the local residents, Permanent Residents, and the commercial property buyers.

If we review the story of the Tampines Centrale 8 issue, DBSS developers made a lot of profit because of the higher income ceiling. The local consumers chose to buy the property using their company than directly to the HDB because they find the prices of the DBSS developers more affordable than the HDB income ceiling.

Isn’t this something to reconsider? It is still the same supply, the same demand, but economically making it a bit difficult for the consumers to allocate funds for the housing and other needs. Is HDB helping the local population or helping the DBSS developers? What is the real purpose of the HDB? Based from home loan affordability computation, DBSS developers were able to raise prices on a competitive level but little less with the set HDB prices. Higher income ceiling affects the loan interest rates and it would be quite difficult for real local consumers to meet the monthly amortizations. They were hit really hard with the changed in the income ceiling for HDB flats.

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Will raising the ceiling for the HDB income affect prices of your homes? Part 1

By shirleytan | Published: October 21, 2011

Prime Minister Lee Hsien Loong, Prime Minister of Singapore, declared that there will be an upcoming changes in the BTO HDB prices’ ceiling rates. The BTO flats or Build to Order Flats category of the HDB will raise its income ceiling from $8,000 to $10,000. This will go along with the increase of the executive condominium category. The income ceiling for the executive condominiums will be increased from $10,000 to $12,000. This implies that the total income of a couple should not fall below $8,000 per month, which is still about 20% to 30% lesser than the resale flat prices in Singapore.

Considering the plan of the Prime Minister, the income ceiling will be raised to $10,000 for studio apartments, 4 or 5 room flats, and mature town or estates in Singapore that offer 3 rooms. The income ceiling for the 3 room standard non-mature towns or estates will be raised to $5,000. All 2 room types of flats will be raised to $2,000.

HDB supply and demand in Singapore

The meaning of the acronym HDB is Housing and Development Board. HDB is the Housing and Development Board monitoring division in Singapore. In February 1960, Singapore created the HDB to replace the Singapore Improvement Trust or SIT that would cover a five year building development plan. The HDB provides the highest percentage of consumers overall the population in Asia.

The HDB implemented the increase in the ceiling prices in 2010. The new program thoroughly considered the needs of the groups of people living in Singapore who showed interest in rental housing. Looking at the HDB supply and demand, the statistics showed that even HDB has been found to hardly meet the local domestic needs of the population. This did not even include the massive migration of foreigners, workers, and Permanent Residents.

I assume the Ministry of the National Development took the wrong numbers as basis for the increase of the income ceiling, supply, and demand strategy. They missed taking into account the additional 22,000 to 25,000 couples getting married each year that would add on to the current demand. If we look closely at the proposed increase, current supply, and the additional demand from new marriages each year, we can say that Singapore will still suffer under supply of HDB flats.

If we depend on the number of flats provided by the Sale of Balance Flats, then I would say that it would be a long wait. I discovered that most of the sites offered under the category Sale of Balance Flats are still ongoing construction although some may be nearly completed. From this information alone, we could say that consumers fighting over each other to buy a unit under the Sale of Balance Flats would be facing a very insufficient supply and long wait in fighting for a chance to own even one new unit.

Those who were not able to receive an invitation from the Sale of Balance Flats exercise were given a chance to pursue their dreams and chances of owning a unit under the HDB BTO system. The government had the bulk of the units’ supply focused under the HDB BTO system. What does this mean? The people will be waiting for their chances until the government will be able to complete the BTO flats construction. One BTO flat project will take at least 2 to 4 years to complete. The average time it takes to complete one BTO project is 2 years.

Status of BTO supply in Singapore

Based on the computation I made looking at the potential 22,000 to 25,000 marriages each year, the only units left available for new consumers will be estimated 5,500 units. The BTO launched the following in September 2011

  • 260 new units of standard 3 rooms studio apartment at the Ang Mo Kio
  • 520 new flats of 3 rooms and 4 rooms standard apartment at the Jurong East
  • 190 new units of standard studio flats at the Jurong West
  • 2,000 units of 3 rooms, 4 rooms, and 5 rooms premium studio apartments at the Punggol area
  • 2,450 new units of standard 3 rooms, 4 rooms, 5 rooms standard studio apartment at the Sengkang area

My apologies if this article may not cover all angles about the BTO and the HDB units and programs for housing rental or ownership because of the lack of appropriate data in their websites. However, we can share the confirmed list of sales launches under the HDB properties from the DBSS. Below are the lists of locations that will launch HDB properties for sale under the DBSS

Bedok PH1 at Bedok Reservoir Crescent

Awarded 04 Nov 2010

Won by CEL Development Pte Ltd

Hougang PH2 at Upper Serangoon Road

Awarded 02 Dec 2010

Won by Kwan Hwee Investment Pte Ltd

Yuan Ching Road

Awarded 10 Jan 2011

Won by Hoi Hup Realty Pte Ltd

Clementi Avenue 4

Awarded 10 Mar 2011

Won by EL Development Pte Ltd

Pasir Ris Central / Pasir Ris Drive 1

Awarded 3 Jun 2011

Won by Singxpress Land (Pasir Ris) Pte Ltd and Kay Lim Holdings Pte Ltd

There would be at least 2,000 to 3,000 additional units for HDB based on the 400 to 500 units per project computation, which I presume cannot meet the needs of the population. In the foreseeable future, the government may decide to have part 2 of the income ceiling increase in an attempt to keep the balance between the demand and supply. However, could the government really taper down the demand using the income ceiling price increase strategy? Unless we control the population for migrants and go for birth control of the local population, then there will always be an additional consumer adding to the list of people wanting to buy an HDB flat in Singapore each year. Once, the consumers expressed their disgust over the inflated $880,000 price even though it was reduced to $780,000 after a few days. Are we going to have a replay of the incident?

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Dishonest Property agents in Mortgage Refinance

By admin | Published: April 14, 2011

Dishonest Property agents in Mortgage Refinance

April 2011

Amidst many complaints against property agents, the Singapore government has set up the Council of Estate agencies to regulate the property agency business as well as to issue each property agent with a license number, and measures such as NO dual representation do not go far enough.

CEA also mandates that property agents cannot refer home owners to money lenders. However this does not go far enough as agents are still referring home loans to buyers and doing a lot of illegal legal fee kick-back.

Agents are still happily making referrals to lawyers and banks. This is a serious problem and we should highlight here so that in case you are a victim, you could raise this issue with Council of Estate Agencies.

Many agents make referral to a bank or a mortgage consultant with the lawyer of the agent’s choice. This lawyer then over-charges the person for legal conveyancing fees so as to pay a commission to the property agent. In other words, the agents receive a kick-back. However, as legal kick-backs is illegal under Singapore law, what these property agents have done is, they have committed a crime and is liable to being punished. Similarly many property agents receive a legal kick-back from intermediary companies which we cannot name, with the property buyer ending up with expensive legal conveyancing fees. These intermediary companies are not apparent to the person taking a home loan as it is done at the back end, but these companies will pay the illegal legal fee kick back to the property agent.

Property agents also push you towards unattractive home loan rates just so as to benefit from the legal fees kick back.

Always note the time and date of your communication with the property agent. Do not drop your guard. Make sure to always force a reply or confirmation via email, this way the agent cannot run.

Attached here is a property agent complaint form which we downloaded from the CEA website. (Please note, you should always check the CEA website to ensure that the form is up to date, we only provide a convenience and are not liable to any losses whatsoever from using the form)A property agent complaint form is available at property buyer. You can contact them at loans (at) propertybuyer.com.sg

CEA Property Agent Complaint Form is available upon request.

Reasonable Legal Conveyancing Fee Guide – Apr 2011

HDB home loan conveyancing for Resale HDB

$500 mortgage stamp fee is around $1900 to $2300. In fact, $2300 is already at the higher range, you should already start to open your eyes and raise a complaint or lodge a check with CEA if it is at above $2000.

HDB Refinance law fees

The estimated legal fees inclusive of Mortgage stamp fee is from $1900 to $2300.

For Private Property Loan- Buying a New Condo under construction

Legal fees for buying BUC properties is $2500 to $3000, although some goes up to $3500 if the property is years away from Temporary Occupation Permit (TOP).

The higher fees is due to the fact that many buildings which are going to get the Temporary Occupation Permit (TOP) may be getting it late, therefore there is more administrative cost on the part of legal conveyancing as they will need to keep track for a longer period of time.

Legal conveyancing for buying Private residential – completed condominium

The total legal conveyancing cost ranges from $2500 to $3210, with $2800 to $3000 being the norm.

Some banks may be deemed more processes by the law firms, due to their internal process, but should not deviate from the above recommend rates.

Conveyance fees for Private Residential Refinance

The legal conveyance fees (including mortgage stamp fee) ranges from $2500 to $2800.

When do Singapore law firms charge higher rates?

Basically it is up to the law firms when to charge you higher. Perhaps sometimes, we feel it depends on their mood, other times, it depends on whether they are in cahoots with the Dishonest property agents.

Law firms can charge you extra under these situations: -

  • Not enough time to exercise option and extensions may be required.
  • Exercise of option faces some complications or option to purchase needs clarification.
  • Faster completion dates such as 6 to 8 weeks.
  • complicated CPF issues.
  • Multiple parties involved in the property.
  • Where it concerns Bridging loans with tight time-frames or Construction loan.
  • being in cahoots with dishonest agents, charging you higher without reason and paying agent a commission.
  • Not corrupt, but legal conveyancing is not their core business and hence they charge a higher price.
  • Some property, usually those above 3m may face higher legal conveyancing fees, due to more potential complexity. (But not always the case)
  • Involving probate cases.

How do you know if you are over-charged?

If you have discovered that you get charged a higher fee than what we have described, it is possible that you have been cheated by the property agents, if you have not been cheated by the agents (in that they did not receive a commission), it is possible that you have over-paid.

Law society makes certain fee recommendation, but the pricing norm is now lower than the recommended fee.

In case a property agent is involved in recommending a bank loan or a law firm, then just take down his/her license number and make an enquiry to Council of Estate Agencies.

CEA Property Agent Complaint Form

These guideline fees are what we understand to be correct market rates as at April 2011

In case you do not know if you are cheated, you can tell us your story, we will be able to guesstimate whether you have been cheated.


write to loans at propertybuyer.com.sg perhaps we can go through your case to let us know if you have been cheated.

SMS Property Buyer mortgage consultants at: +65 9782 8606

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The best way to Look for a Singapore Mortgage Refinance Company

By admin | Published: April 9, 2011

In Singapore, there are many mortgage refinance consultants or companies that can help you out in your refinance.

Choosing a mortgage refinance company means that you have a variety of options to choose from. Shopping around for a mortgage refinance company that offers the loan terms that you want is easier than ever. You can look online, or you can go in to a more “traditional” lender for your mortgage refinance. Really, you have almost unlimited options when it comes to finding a mortgage refinance company that fits your needs.

Finding a Singapore mortgage refinance company nowadays because you can simply do a search online and contact the company just like that.

But one thing that you have to take note when finding such company is that, you must first know what you want or have the slightest idea of what you want to achieve.

So how are you going to search for these companies online?

There are many companies now have their own website. Some tech savvy consultant or companies operate hundred percent over the internet. There are also “brokers” to help you find mortgage refinance company to best fit your requirements. What they does is, they take the required information from you and then submit it to several mortgage companies.

For more internet savvy Singapore mortgage refinance company operates fully on the net. Despite they do not have a physical office, they know what they are doing. What you can do if you happen to come across such company is to read their about us page, then contact them to judge for yourself.

You may need to take note of the following if you look to engage a Singapore mortgage refinance company.

Service. You will want a company that gives you as much attention as possible and getting you back as the time promised and promptly.

Customized. Everybody needs are different. Find one company that can customize your needs and tailor one refinance package that suits you.

Honesty. It really helps to find a honest mortgage consultant or company. They will put customer interest first instead of their commission first.

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All you need to Find Out About Singapore mortgage

By admin | Published: April 2, 2011

It is somewhat an insurance policy that allows a lender or investor to compensates losses that might happen during the loan period or when a loan is defaulted. In fact, there are 2 types of loans, namely public mortgage and private mortgage. We will touch base on private mortgage.

Singapore Private Mortgage Insurance

For Singapore mortgage insurance, the charge depend much largely on some factors like, loan value, credit score, etc. You can choose to pay annual or monthly and some mortgage packages allows you to split premium too.

Lender-Paid Singapore Private Mortgage Insurance

As for this type of insurance, the premium cost have already been included and the person who take up this form of insurance have to pay according to the interest that is written on the loan contract from the borrower.

Borrower-Paid Singapore Private Mortgage Insurance

This is an insurance taken on mortgage loan defaults that is provided by an insurance company and the premium for which is paid by the borrower. By undertaking the payment for a borrower-paid private insurance on mortgage, a borrower can get a mortgage without being required to put in a down payment of 20%. This type of** Singapore mortgage insurance** provides coverage to the lender for the extra risk of giving a high loan-to-value mortgage.

When is the best time to sign up Singapore mortgage insurance?

Once you have your keys to your new home, you can start looking for one. In case if anything happen to you, your love or closed one will not have the burden of continuing paying for the mortgage.

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Useful information on Finding Singapore Home Loan Rates

By admin | Published: March 31, 2011

It is a fact that everyone wants to own their dream house. However, not many can afford to buy their new house with their daily savings or CPF. Thus, many banks are happy to provide home loans packages to these people to help them realize their dream of owning a house.

Owning a house is every Singaporean dream, so to speak. However, as inflation climb higher each passing years, most of the average Singaporean find it harder to own a HDB flat. Thus, there are many attractive schemes and loan packages offer by some local banks which you can really take advantage of.

Some of them that provide Singapore housing loans are:

DBS

UOB

OCBC

SCB

If the banks that you want are not listed here, you may consider to contact Singapore mortgage consultant for assistance.

With that being said, these banks offer floating and fixed rates for their loans packages. However, one thing you have to take note is the banks will keep changing their interest rates depending on the current economy. So these changes will also affect existing customers whom want to take up loan packages. Below are some two important guidelines to help you understand more on Singapore home loan rates.

Understand more about Singapore home loan rates

In order to find the most attractive loan package that you can afford and like, you first must shop around and compare the best housing loan rates that are being offered by banks. Usually, the banks will offer a compettive rates for their customers. However, if you do not have the time to ask about the rates, you can easily engage a mortgage consultant service to do this for you.

If you have existing loans with the same bank for quite some time now, you can go with other banks too if other banks are offering you more attractive rates than the one you are having now. Then you can go for a term call “Loan Takeover”. And “Loan Takeover” simply means that the current bank that you are taking up the loan with will take over your existing loan. If you play this correctly, you can reduce the risk of rising interest rates.

Choosing a bank and Singapore home loan rates rates is easy if you engage a professional Singapore mortgage consultancy firm to do it for you.

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Everything Regarding Singapore Home Loan Interest Rates That You Need To Be familiar with

By admin | Published: March 26, 2011

Singapore home loan interest rate changes daily. This should not be seen as another venue for spending extra money. To overcome this, you need to have proper knowledge when comes to home loan interest rates. Not only will you make an inform choice when selecting home loan packages, you can potentially save up on the interest rates when you know how.

Here is 2 popular kinds of Singapore home loan interest rates.

Singapore Home Loan Fixed Rate Interest

This type of loan is about paying a fixed amount and you do not have to care if the interest rate is high or low during this loan period. If you want to make it affordable for you, you can consider taking up this loan and it comes with a period of 15 years and a 30 years loan. However, people find 15 years loan a more realistic housing loan. But at the end of the day, it really boils down to which type of loan really suits you.

Variable-rate Home Loans

This type of loans appears to be well like for people who know that the interest rates do not fluctuates that greatly. The advantage of getting a variable rate kind of home loans is that, usually the fixed interest rates are lower when started. On top of that, the loan is longer than the variable part of it. Let me quote you an example. If John fixed rate is 15 years long and his variable rate is only about a year, thus, he might be able to save more in such a situation.

Check out this nifty Singapore home loan interest rates calculator.

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