Hi there,

I need some advice and help from anyone here urgently.

I have applied a Housing Loan from HDB but end up they could loan to me only at 92k, reason was that I have current flat and the cash proceed of 50% will be deduct but from my own calculation bull***T. They just don't want us to earn any cash out of selling my current flat. The amt of 92k plus my 100% cash proceed plus my cpf refund incurred interest is just the right amount to get my next BTO flat and that one too is just a low floor and its a STANDARD flat. And I still need to save up money for renovation.

As for bank loans the interest rate quite appealing and at least I have some cash proceed for my renovations and my kids savings etc but I have heard lots of cases that banks do indirectly charge higher interest after the 1-2yrs lock in interest rates. Is that true?

I am dilemma now which one to choose or decide.

Please do comments or advice from anyone that experience in this matter. I got a month to think over this before I can decide.

Thanks.

Definitely bank loan. But best is check with bankers. And u can always refinance after the lock-in period.

Hi there,

I need some advice and help from anyone here urgently.

I have applied a Housing Loan from HDB but end up they could loan to me only at 92k, reason was that I have current flat and the cash proceed of 50% will be deduct but from my own calculation bull***T. They just don't want us to earn any cash out of selling my current flat. The amt of 92k plus my 100% cash proceed plus my cpf refund incurred interest is just the right amount to get my next BTO flat and that one too is just a low floor and its a STANDARD flat. And I still need to save up money for renovation.

As for bank loans the interest rate quite appealing and at least I have some cash proceed for my renovations and my kids savings etc but I have heard lots of cases that banks do indirectly charge higher interest after the 1-2yrs lock in interest rates. Is that true?

I am dilemma now which one to choose or decide.

Please do comments or advice from anyone that experience in this matter. I got a month to think over this before I can decide.

Thanks.

For HDB loan: your cash take back will be very much lesser.

for bank loan: currently rate is attractive, however i have to remind you that the bank rate in singapore over this few years is around an average of 3.5% to 4%.

a lot of people will tell you that after the log in period, if interest get too high, you can refinance. Please do take note that the singapore bank industries, increase their rate together, same senario as petrol kiosk, 1 increase all increase.

Cheers

Hi there,

I need some advice and help from anyone here urgently.

I have applied a Housing Loan from HDB but end up they could loan to me only at 92k, reason was that I have current flat and the cash proceed of 50% will be deduct but from my own calculation bull***T. They just don't want us to earn any cash out of selling my current flat. The amt of 92k plus my 100% cash proceed plus my cpf refund incurred interest is just the right amount to get my next BTO flat and that one too is just a low floor and its a STANDARD flat. And I still need to save up money for renovation.

As for bank loans the interest rate quite appealing and at least I have some cash proceed for my renovations and my kids savings etc but I have heard lots of cases that banks do indirectly charge higher interest after the 1-2yrs lock in interest rates. Is that true?

I am dilemma now which one to choose or decide.

Please do comments or advice from anyone that experience in this matter. I got a month to think over this before I can decide.

Thanks.

Hi there,

Depends on your loan tenure, the right choice now is taking bank loan for shorter term loan as the interest rate is low. Moreover, you do not have to use 50% of your sale proceeds for your next purchase.

If you need help to source for a banker, i am able to assist you. Do contact me @ 97504620. Vincent

if absorption get too high, you can refinance. Please do yield agenda that the singapore coffer industries, access their amount together, aforementioned senario as petrol kiosk,

Anyway it's good that HDB have such measures. In fact I'd strongly propose Government to consider putting a tax on capital gains from HDB sales!

I would recommend you to get help from a professional person he will definitely guide you properly ...

Considering that HDB interest rates is 2.6% at fixed rate. Looking at the current bank interest, what will be the most optimum loan tenure that one could take up even if the interest rates shoot up to 3.5-4% after 3rd year?