MRTA sum insured equivalent to Home Loan with insurance coverage at least 10 years OR; MRTA sum insured at least 80% of Home Loan with insurance coverage the whole loan tenor **Interest rate for THB 1,000,000 loan with loan tenor of 15 years and MRR = 8.00%. So long all documents are complete. It is therefore no surprise that, firing the first salvo in 2019, UOB is the last of the three local banks to play catchup on rates. Since 2014, MortgageWise.sg has provided thought leadership in the mortgage planning space in Singapore, taking deep dives into the latest developments in the industry, providing useful mortgage tips, and making sense of rate movements. Find out as well how you get additional $150 valuation fee offset when you refinance home loan through us instead of applying direct to the bank – essentially for the same interest rate package. Both benefits subject to a minimum loan of $500,000 through us. Effective date: 31 August 2020 The basic Mortgage Interest Rate (MIR) of UOB Vietnam is 8.70% p.a. As UOB has now switched to offering mortgages in SIBOR or BOARD rates only, new customers to the bank are not affected, although we do not track any increases to BOARD rate which is internal to the bank. Another interesting observation is that even amongst the three local banks, the increases were uneven. Contact us for details or apply here. However, being an active participant in the mortgage industry tracking all news affecting interest rate, we make the best calculated guess and dispense what we believe is best advice for our clients at all times. It simply does not pay to be loyal these days, and this applies beyond mortgages but everything else as companies generally give away more to acquire a new customer than to retain an existing one. Apply for a UOB Property Loan online and obtain instant approval 1 within minutes. This translates into a savings per year of approximately $100-200 (annual premium payable) for most condo sizes. This waiver only applies to private condominiums and ECs, but not for landed or HDB properties. Speak to our consultants today to find the best home loan. A 1% Home Loan At Last! UOB home loan customers would have enjoyed the longest delay to rising interest rates given how SIBOR has moved up significantly since the last rate … Acceptable collateral are single houses, twin houses, town houses, shop houses, and residential condominiums. In fact, we know one foreign bank has made the announcement which we will be reporting in the coming month. We cannot be 100% accurate in our prediction and forecast. We are thought leader in the mortgage space in Singapore and we broker based on the needs of each borrower by matching them with the right loan features at the lowest interest rate. Most importantly, one usually will not get the best rates by staying with the same bank. And right now, as we approach possibly end-cycle over the next few years, there is a shift in our stance for mortgage recommendation. Unknown to many, OCBC has revised its valuation cost scale down for all condos up to $2m: After one bank revised the contracted spreads up unilaterally back in. 21 August, 2020 - 12:39 pm UOB Property Loans Online Exclusive. By the time the new rates take effect, the first quarter of 2019 would have nearly passed. Free conversion simply means the option of calling up the bank to switch to another prevailing package, without being slapped with the usual conversion fee of around $500 for local banks. OCBC waives the need for homeowner to purchase a mandatory fire insurance policy from a bank-appointed insurance company, as stipulated in most mortgage contracts. After all, its last increase at 0.15% was less than one-third of the other two local banks’ increases, and it was made even before Fed’s rate hike in December, which means it may not have factored in the latest run in SIBOR rates. That’s why we always present “whole-of-market” perspective including home loan packages that some banks do not pay us. UOB Property Loans Online Exclusive . Or if you are looking to buy Singapore condo, enjoy a special purchase legal of $1,800 (all-in taxes) for completed property, from our partner law firm. If you concur with this view point, consider the advantages of working with a trusted mortgage broker long-term, as many have already discovered. In a way we think, this exemplifies the difference in cost structure (and hence cost pressures) between DBS and its two local counterparts, a point we have always highlighted in the past – DBS enjoys cost advantage with access to its huge CASA (current account, savings account) base of POSB accounts for cheap Sing dollar funding. Overseas-Chinese Banking Corporation (OCBC) is one of the Big 3 banks in Singapore formed after mergers in 1932, with headquarter in Singapore. UOB HDB Home Loans Interest Rates as of October 16, 2020. Moreover, the bank is currently offering exclusive home loan rates, gift vouchers up to S$3,000, and an S$1,800 subsidy in legal costs for refinancing. For refinancing of home loans, OCBC offers cash rebate and not legal subsidy. (GMT+8: Singapore time), https://www.mortgagewise.sg/wp-content/uploads/2019/09/UOB-2.jpg, https://www.mortgagewise.sg/wp-content/uploads/2019/02/MortgageWise-Logo-e1568208138942.png. 13 September, 2020 - 3:31 pm; New US Fed Policy – “Lower-For-Longer” Interest Rate 28 August, 2020 - 6:08 pm; Is Now The Time To Buy Property? Be delighted with gifts of up to $3,800 (inclusive of up to S$1,800 in legal subsidy for refinancing) on top of an exclusive home loan rate*. OCBC has a simple 1-page loan application form that is entitled Evaluation form, which makes it a breeze to apply in just 5 minutes. 8am to 10pm Daily For its floating rate home loans on either SIBOR or BOARD, OCBC allows a prepayment of up to 50% of the outstanding loan balance during the lock-in period, without any redemption penalty. Still Undecided – Fixed Or Floating Rate? To understand more about Singapore home loan features from up to 12 major mortgage lenders, speak to our experienced team of mortgage consultants today! Just like the other two local banks, there is fast-track or “instant approval” for homeowners with good credit rating and verifiable income. How does one choose between the 3 local banks whom most are familiar with in Singapore? (Last Updated 5 Oct, 2020) MortgageWise.sg recommends OCBC home loans and highlights 9 salient OCBC mortgage loan features that homeowners may not be aware of. We have reported extensively on all rate adjustments by lenders in Singapore in the past year, being one of the top “go to” site for the latest home loan rates and all things on mortgages. The minimum loan amount is THB 500,000 while the maximum loan is up to THB 50,000,000.
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