Phantom

thats not true. SCB only has below 80 or above 80.

Well.. we could work out something.. it might not necessarily be financial terms. dinner could work. LOL.. i love a good meal.

Don't worry. Shlt Happens in life. Alot of people around are in the same situation. =) Like they say, you're not alone.

There's no BEST package. Only the right package. Example. Bank A rate is the best, but they value your property at 1m. Bank B rate is 2nd best but they value your property at 1.3m. Which is better? Clearly that depends on your situation. At the same time, have a view on the interest rates. If you think rates are going to go up in the future, you should prefer a fixed rate interest type of mortgage or a mortgage that doesn't lock you in for too long. If you think rates are remaining stagnant and/or going down, you should prefer a floating interest type of mortgage. Legal Fees. Do you have a lawyer representing you? Using Bank Lawyers? what is the legal fee? and the subsidy? Clearly you have offered the seller but have yet to sign the option? Based on the discussion here I believe you don't need to apply for in-principal approval / approval in principal. Just go straight to apply for the loan. You don't commit yet until the bank approve your application and you sign on the Lettor of Offer from the bank. Assuming First Property -Self Employed / Full Commission Earner (2 Years Notice of Assessment) -Employee (Latest Computerized Payslip) -IC back and Front -CPF Statement 6 months Details of the property -Name of Development -Address (including Unit Number) -Renovation done? e.g. Yes 20k When? -Buit-in Size (Loft unit?) e.g. 1200sq ft -Type (Condo/Walkup) e.g. Condo -Purchase Price e.g. 1.1m -When TOP. e.g. 2007 -Type of Leasehold (99/999/Freehold) Details of property will assist the banker in getting you a desktop valuation from the valuers on the bank's panel.

Every bank has different lending practices. Generally mortgage lending depends on the following 1) Valuation of the property. Different banks might have different valuers who value property differently. 2) Record good? meaning payment? that helps definately. 3) Banks will NEVER lend more than a certain percentage of the valuation. typically at 80% or 90%. 4) If you want to borrow 80% but then 80% = 600,000, and based on the Debt servicing ratio, the bank feels that you can't cope with the installments, then they will only lend lessor.

90% loan also means higher interest rates most of the time. most of the time above 80% loan quantum, banks will increase the interest rates.

What I meant was taking a high loan quantum e.g. 90%. then valuation drops. which alot of people are in at the moment. Hence you can refinance the property to another bank PROVIDED that the you top up the difference to the current valuation.

both also can.

LMAO. 1) Best winning streak of 187% means 3 weeks trading. ALL trades positive. 2) Worst case margin call means lost all my money. It doesn't mean that it was all traded in the same time. That's over the years. Overal positive but early days were really bad. =)

It really boils down to your intention. At the same time, Why Sentosa? I don't even like the place.

Yes. I've made money. Best Run 187% 3 weeks. Yes. I've lost money. Margin Call. My take is IF those chaps conducting lessons are really good, they would stick to trading rather than conduct trainings.. which IMHO is a very profitable business. Practice accounts will never be the same as real accounts because its not real money. Wannabe traders must understand something called Trading Psychology / Investment Psychology. Example: When people invest in a stock for example. They most of the time will sell the stock after making 10% or 20% gains. On the flip side there are people who almost never lock-in profits. thinking tomorow will be better. I think I should conduct a class for you and your girlfriends.. how much are they charging for courses nowadays. LOL..

Before starting out. Please Google. Bucket Shop. there's no such thing as less spread. or guaranteed spread. Understand what is the deal behind it. Like stocks FX always have buyer/seller. Google what is ECN/Algorithmic Trading/Black Boxes/Fundamental Trading/Technical Analysis/Oscilliators etc...

Can still fedex tomorrow.

Susan28 I don't think so. Developers are trying to sustain the market. Doesn't seem likely that prices will dip dramatically. Property prices look like base building at the moment. expect the market to range around this level for the next 3-6months.

www.fxstreet.com www.forexfactory.com are 2 very good websites to start learning. 1) Wannabe Traders should paper trade for at least 1-2months before starting a live account 2) Make sure you have at least 10k to 20k before trading. 3) Pick a time slot you prefer to trade 4) Always put stops. (FAR away) if you wanna put 10pip or 50pip stops then I think you shouldn't trade. 5) Pick ONE pair and understand it. 6) Trade the Majors AUDUSD/Cable/Fiber/USDJPY 7) Use minimum leverage for a start 8) Start by trading mini lots. 9) Never trading news 10) Prepare to lose whatever money you set aside. Good luck.

Metatrader is an established platform. Honestly I think you guys should go and understand that different types of FX tools available then start picking out brokers. At the same time avoid the bucket shops and web based brokers.

1) Depends on the legal fee subsidy and the legal fee cost. Its common that lawyers charge higher fees just because there is subsidy. At the same time, some law firms might practice under the table cash back to banker or agent. etc. 2) mortgage insurance : are you talking abt private mortgage insurance? thats cash only. Fire insurance thats cash too..

Therat, That's not exactly true. Technically what you say is correct but based on the lending guidelines, what shingirl mentioned is possible. Example: To keep it short, assume that after all my liabilties, based on my nett income flow, the bank says that I can borrow say $400,000.00 Loan Quantum. Typically, the credit guidelines are based on debt servicing ratio (DSR). On the other hand, I want to take a loan of 60% of the property. Which is 500,000.00. In this case it is possible because based on the lending guidelines, the risk to the bank is minimal and they could grant. This is an established lending guideline for some banks.

Investors think that it's good to have a bank to give 90% loan to valuation. The last laugh is actually with the bank. Imagine (Real Life) 1) When interest rates pick up later. You realize that you almost can't move to another bank because alot of banks can't value your property to do a refinancing. Hence you are stuck with high interest rates. 2) 90% LTV are always with a higher interest as compared to below 80%. With higher interest rates, your monthly installments will be higher. Think Twice about getting a high LTV mortgage unless you have the capability to pay off part of the loan at some point in the coming years. Stamp Duty is factored at 3% of purchase price - $5400

Have a kid yourself lor..

You call him lor.. ha ha ha... you ah.. every opportunity must turn into sales ah? lol

ha ha.. yeah i think the day before deliver... baby boy.. =)

hey you guys know that devilaz wife just gave birth?

Travelling for work.. told you girls she work for MICE department in a travel industry mah.. so they bringing a group of corporate clients over to states for incentive trip.. me ah.. stay here lor.. no money leh.

Same like me.. i got a **** long list at adidas.com.. lol.. lucky cannot ship to singapore.. will most likely tell wife to buy for me when she is in states later in the year.