Property questions

[Funz]

I’ve been advised to sell now and hold the money till 3rd qtr this year. And when looking for a property as an investment. The ones with the best potential will be those near waterfront or along the IR belt.

[happychick]

Hi Funz - if u dont mind me asking - are you talking abt your second property ? if so, then i think it’s ok to take that risk …

but if you only have one property - will you consider renting in the meantime ?

[Funz]

happychick:

Hi Funz - if u dont mind me asking - are you talking abt your second property ? if so, then i think it's ok to take that risk ..

but if you only have one property - will you consider renting in the meantime ?

keke, guess you just joined this thread.

I have 3 properties. In the midst of selling one, signed papers oredi. No intention to sell the one we are staying in at all in the near future even though we keep getting calls and pretty attractive offers. And another overseas property almost fully paid up and already appreciated by 30%.

Now deciding whether to pay up loan on the property we are staying in or to hold the money to invest when the oppty comes. Just re-priced our loan and the interest rate is low so we are kinda leaning towards holding the $$ to reinvest.

[happychick]

ahh i c

Thanks for the clarification
well done on the investments !

Of course you sld not sell the one you currently live in - otherwise, if the property prices shoot up, u'd be cash rich but nowhere to live !

Good on you for taking profit on your other local property ! I suppose you didnt wanna settle for rental yield ?

just my 2 cents, i think i'd refinance with the current low interest rates and hang on to the cash to \"cash in\" if the prices do come down in Q3.



All the best !

[MMM]

Hi,


What is the best housing loan in the market right now?

We are looking at refinancing our house. For this property, we are currently with UOB but I am really pissed with them. When we did a loan re-financing before lock in period, they charge us penalty of few k. Then when we approach them for refinancing this time round... they asked us to pay $500 for admin fee... just to refinance with them :x This is already outside lock in period. Just wonder where is their service level and they don't seem interested in customer retention.

For my other property, we are using Citibank and i am very happy with their service. When we did re-financing from 3.75% to current 1.8% still within lock in, they did a new package for us and waived off all penalty. This is what I call service.

UOB really sucks. Everything wants to charge. We need to look into refinancing as they just up their interest to 2.88%. From interest perspective, yes it is still cheaper to pay them $500 for refinancing BUT I just don't like the service level of charging for this and that :roll: What happens after 1 year and we want to refinance again???? Another $500?

[happychick]

Hi MMM !


awww shucks that's just awful service !!!

I just did one with DBS and it had the lowest rates

[MMM]

Can you share what is the rate like?


Also, will you be able to PM me your mobile banker contact?

Hubby was also telling me about DBS and we haven’t done much homework. Still need to serve 3 months notice to UOB. Either serve notice or continue. We lag on this and only realise that it’s the 2nd yr after receiving the revision in interest rate notice. :x

[csb]

Hi happchick, did you refinance or take up a new loan with DBS? We’ve refinanced 2x with dbs and twice, we were charged $500 each time for the refinancing. I asked dh to try negotiate to have them waive the $500 but it seems like it’s a standard "non-waive-able" charge.

[MMM]

csb:

Hi happchick, did you refinance or take up a new loan with DBS? We've refinanced 2x with dbs and twice, we were charged $500 each time for the refinancing. I asked dh to try negotiate to have them waive the $500 but it seems like it's a standard \"non-waive-able\" charge.

Is that a common practice for local banks???? $500 for renewal?

I don't have this issue with Citibank. They were willing to waive off few k of penalty for 2 of my loans unlike local banks.

If that is the case, then I am keen to switch to them.

[sleepy]

If you have multiple properties, do you stretch your loan quantum to the maximum? And solely relying on rental income to service your bank loans? How many months buffer do you set aside in case you can’t get tenants for a few months? Anyone bought commercial property instead of residential property?