<![CDATA[Property questions]]>Hi,


Is it true that in the event that you pay off your house (partial contribution by CPF). You will not be able to get the title deed and CPF will hold on to the title deed???

Anyone heard/ experience that before?

I just find it puzzling as CPF is our hardearned money so it doesn’t sound logical.

]]>https://forum.kiasuparents.com/topic/9985/property-questionsRSS for NodeSat, 25 Apr 2026 18:44:29 GMTTue, 06 Apr 2010 05:00:47 GMT60<![CDATA[Reply to Property questions on Fri, 09 Apr 2010 04:45:26 GMT]]>

hquek:
I enjoy the idea of savings generating 4% p.a. Last year alone, I think we saved 10K in interest charges. Although I cannot take out that interest and spend, it's gratifying that i'm not paying that sort of money to the banks.

Yes yes... to think about 4%, it seems exorbitant now. I really enjoy banking with CITI. My hubby decided to just pay the $500 conversion with UOB so that our interest rate will reduce immediately. If not, we need to wait for 3 months for the switch to other bank. We told ourselves that in 9 months time, we will start to inform the bank and probably make the switch to CITI. Are HSBC, Maybank or SC flexible with such charges??? Anyone can share?

Yes, CITI is really good at waiving of such charges. My 2 other loans were even before the lock in period. I just called them to discuss the options. They not only offered me the significantly lower rate package but also waived off all penalty or other charges. This is why I would prefer to stick to them. This is superb service.

]]>https://forum.kiasuparents.com/post/157202https://forum.kiasuparents.com/post/157202Fri, 09 Apr 2010 04:45:26 GMT<![CDATA[Reply to Property questions on Fri, 09 Apr 2010 02:30:09 GMT]]>

MMM:

I use the same with Citibank. They call it cash management account. Yes, they've now capped it at 70% of principal. I put all my money there so that we can pay down our housing loan earlier. Who else gives such a interest for deposit?
yup yup. I enjoy the idea of savings generating 4% p.a. Last year alone, I think we saved 10K in interest charges. Although I cannot take out that interest and spend, it's gratifying that i'm not paying that sort of money to the banks.

]]>https://forum.kiasuparents.com/post/157011https://forum.kiasuparents.com/post/157011Fri, 09 Apr 2010 02:30:09 GMT<![CDATA[Reply to Property questions on Fri, 09 Apr 2010 02:30:09 GMT]]>

MMM:
... they asked us to pay $500 for admin fee... just to refinance with them :x

The banks call this \"conversion fee\" and is is common to ALL banks, just a matter how much they are willing to reduce. The fee is incurred because you are converting from one package to the other.

You may be able to negotiate for a partial waiver from local banks. Citibank usually absorbs the fee.

]]>https://forum.kiasuparents.com/post/157012https://forum.kiasuparents.com/post/157012Fri, 09 Apr 2010 02:30:09 GMT<![CDATA[Reply to Property questions on Fri, 09 Apr 2010 02:25:59 GMT]]>

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?

sleepy,
we have a small commercial property and it was tenated. In terms of returns, i must say that this is better then residential property. We have this for almost 10 years and the tenant is there for as long. We didn't increase the rent though. but we are ok and happy for the stability. For a start, we actually set aside 6 mths to buffer since we cannot use CPF to repay the loan.

But prices now has (also) gone up a lot. So you really have to be mindful of the location and the business mix in the area.

]]>https://forum.kiasuparents.com/post/157006https://forum.kiasuparents.com/post/157006Fri, 09 Apr 2010 02:25:59 GMT<![CDATA[Reply to Property questions on Fri, 09 Apr 2010 02:20:42 GMT]]>

hquek:
FYI, I think too many pp do this, so HSBC seem to have modified such that you only save on 2/3 of the interest - so will still incur 1/3 interest.

I use the same with Citibank. They call it cash management account. Yes, they've now capped it at 70% of principal. I put all my money there so that we can pay down our housing loan earlier. Who else gives such a interest for deposit?

]]>https://forum.kiasuparents.com/post/156996https://forum.kiasuparents.com/post/156996Fri, 09 Apr 2010 02:20:42 GMT<![CDATA[Reply to Property questions on Fri, 09 Apr 2010 02:06:12 GMT]]>

BeautifulLife:
Hi to all property gurus,

I not guru, just here to share my views.
BeautifulLife:
1) doesn't it make sense to use 80% of our savings to invest in property?
General rule of thumb is to keep 6 months of expenses as cash, the rest may be invested or kept in more illiquid instruments. I don't have that much in the bank accounts, each time it gets on the high side, I'll start scouting for suitable stuff to invest in - eg blue chips, funds.
BeautifulLife:
2) will you sell the HDB now, since prices are record high and we won't be staying for the next few years? We can then take our time to buy a condo when the price is better?

4) Did you keep your HDB after buying your other properties?
If your hdb flat is in a good position, good facing, I honestly think you should not sell it. How to find such a good one next time? Pls note that in very worst case scenario (eg full of debts which I doubt will happen to you), creditors cannot touch hdb (but they can force you to sell your private property).
BeautifulLife:
3) I told my dh to use 80% of savings to buy 2 condos and the rental itself should be enough to cover the monthly repayment. Keep the HDB cos it is the cheapest house we will ever ever get. But then again, we should sell off HDB cos we got it direct from HDB and thus, will be able to make quite a bit of $ from the sale. am in a dilemma.
My family has a couple of private properties and we mortgage to the hilt, but we took up Smartmortgage with HSBC (I think Stand Chart used to have this also). Interest earned from the current accounts will be offset against the loan. We have been maintaining the same amount in current account as the loan, we are not incurring interest on our loans. the money in current account can be taken out anytime (if there is shortfall in amount saved versus loan, interest will be levied). It's not the best way to make money work, but we like the security of being able to move our money, and the fact that there is no interest expense.

FYI, I think too many pp do this, so HSBC seem to have modified such that you only save on 2/3 of the interest - so will still incur 1/3 interest.
BeautifulLife:
5) While I'm still riding on the \"courage\" now, may I ask if you know of any middle-income people like my family who also keep such a tidy sum of cash savings? I always tell my dh it is unwise to just keep saving huge sum of $ and am quite sure people don't do this nowadays.
It's really personal comfort level. You will lose out in form of inflation by keeping cash, but you gain comfort in knowing there is no see saw (price go up, go down)

]]>https://forum.kiasuparents.com/post/156980https://forum.kiasuparents.com/post/156980Fri, 09 Apr 2010 02:06:12 GMT<![CDATA[Reply to Property questions on Fri, 09 Apr 2010 01:49:51 GMT]]>Hi to all property gurus,


I sincerely need your views.
We’re in our mid-30s with 2 kids.
Our hdb and car are fully paid.
Dh brings home quite a handsome sum of monthly income.

Hmmm…how shall I say this, we have cash savings of 600k and quite alot in CPF.( this is the part that I find difficulty in sharing with any of my friends. I am not sure how people will view me. How-lian? so the anonymity of sharing this in a forum gave me the courage)
My dh is very prudent. only do a bit of US shares.

We are relocating to overseas for at least 2 years. If you were in our situation:-
1) doesn’t it make sense to use 80% of our savings to invest in property?

2) will you sell the HDB now, since prices are record high and we won’t be staying for the next few years? We can then take our time to buy a condo when the price is better?

3) I told my dh to use 80% of savings to buy 2 condos and the rental itself should be enough to cover the monthly repayment. Keep the HDB cos it is the cheapest house we will ever ever get. But then again, we should sell off HDB cos we got it direct from HDB and thus, will be able to make quite a bit of $ from the sale. am in a dilemma.

4) Did you keep your HDB after buying your other properties?

5) While I’m still riding on the "courage" now, may I ask if you know of any middle-income people like my family who also keep such a tidy sum of cash savings? I always tell my dh it is unwise to just keep saving huge sum of $ and am quite sure people don’t do this nowadays.
But he said don’t underestimate HDB dwellers. He said some of them have more savings than us.

Sorry for the long post and looking forward to your enlightenment.
cheers.

]]>https://forum.kiasuparents.com/post/156961https://forum.kiasuparents.com/post/156961Fri, 09 Apr 2010 01:49:51 GMT<![CDATA[Reply to Property questions on Wed, 07 Apr 2010 10:48:53 GMT]]>next to govt organisations, banks are the other organisation that I hate having to call. You reach, xxx bank, press 1 for blah blah blah, press this, press that, then sorry all our operators are engaged please leave a message. Leave a message and no one calls me. I always find it strange that the banks spend so much money trying to get new clients but neglect their existing customers.


$500 admin fee seems to be the norm for most banks for repricing loans. I manage to negotiate mine down to $200.

Rate quoted to me in Feb/Mar this year from DBS was 12mth Sibor +0.75% or prime less 2.5%. Sibor at that time was about 0.908% and prime was 4.25%. Sibor has tie-in period and penalty for partial repayment, prime dun have. I went with Prime as we were not sure what we will do with our properties then.

They offered me a lower rate under their treasures customer programme but it came with so many conditions like having to maintain a minimum sum in my a/c, etc and tie-in period of 3yrs. Not worth it. I dun believe in letting money sit idle in the bank.

]]>https://forum.kiasuparents.com/post/155723https://forum.kiasuparents.com/post/155723Wed, 07 Apr 2010 10:48:53 GMT<![CDATA[Reply to Property questions on Wed, 07 Apr 2010 10:10:47 GMT]]>MMM : new loan - lemme go home and get the contacts will let u know tomorrow 🙂

i was told that the rates will be increasing soon - not sure how true that is ..


CSB : it's a new loan. Apologies, i dont know much about re-financing so i cant help - but if it's not in bold in your Letter of Offer/Loan documents, why do you have to pay to re-finance ??
Is it disguised as an \"admin\" fee ??

]]>https://forum.kiasuparents.com/post/155704https://forum.kiasuparents.com/post/155704Wed, 07 Apr 2010 10:10:47 GMT<![CDATA[Reply to Property questions on Wed, 07 Apr 2010 09:58:29 GMT]]>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?

]]>https://forum.kiasuparents.com/post/155687https://forum.kiasuparents.com/post/155687Wed, 07 Apr 2010 09:58:29 GMT<![CDATA[Reply to Property questions on Wed, 07 Apr 2010 09:53:58 GMT]]>

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.

]]>https://forum.kiasuparents.com/post/155681https://forum.kiasuparents.com/post/155681Wed, 07 Apr 2010 09:53:58 GMT<![CDATA[Reply to Property questions on Wed, 07 Apr 2010 09:43:20 GMT]]>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.

]]>https://forum.kiasuparents.com/post/155670https://forum.kiasuparents.com/post/155670Wed, 07 Apr 2010 09:43:20 GMT<![CDATA[Reply to Property questions on Wed, 07 Apr 2010 09:41:04 GMT]]>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

]]>https://forum.kiasuparents.com/post/155664https://forum.kiasuparents.com/post/155664Wed, 07 Apr 2010 09:41:04 GMT<![CDATA[Reply to Property questions on Wed, 07 Apr 2010 09:28:16 GMT]]>Hi MMM !


awww shucks that's just awful service !!!

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

]]>https://forum.kiasuparents.com/post/155654https://forum.kiasuparents.com/post/155654Wed, 07 Apr 2010 09:28:16 GMT<![CDATA[Reply to Property questions on Wed, 07 Apr 2010 09:26:13 GMT]]>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?

]]>https://forum.kiasuparents.com/post/155653https://forum.kiasuparents.com/post/155653Wed, 07 Apr 2010 09:26:13 GMT<![CDATA[Reply to Property questions on Wed, 07 Apr 2010 09:16:57 GMT]]>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 !

]]>https://forum.kiasuparents.com/post/155646https://forum.kiasuparents.com/post/155646Wed, 07 Apr 2010 09:16:57 GMT<![CDATA[Reply to Property questions on Wed, 07 Apr 2010 09:07:26 GMT]]>

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.

]]>https://forum.kiasuparents.com/post/155639https://forum.kiasuparents.com/post/155639Wed, 07 Apr 2010 09:07:26 GMT<![CDATA[Reply to Property questions on Wed, 07 Apr 2010 08:55:47 GMT]]>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 ?

]]>https://forum.kiasuparents.com/post/155632https://forum.kiasuparents.com/post/155632Wed, 07 Apr 2010 08:55:47 GMT<![CDATA[Reply to Property questions on Wed, 07 Apr 2010 07:04:31 GMT]]>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.

]]>https://forum.kiasuparents.com/post/155520https://forum.kiasuparents.com/post/155520Wed, 07 Apr 2010 07:04:31 GMT<![CDATA[Reply to Property questions on Wed, 07 Apr 2010 06:45:26 GMT]]>Today's article from SBR :

================================
More signs residential market slowing as price rises abatePROPERTY | More signs residential market slowing as price rises abate
You may want to hold back on buying that property with latest URA figures showing a slowdown in residential prices, which rose 5.1% in the three months to March compared to 7.4 % in the previous quarter.

Based on the estimated price index of private residential property, prices rose from 165.7 points in the 4th Quarter 2009 to 174.2 points in the 1st Quarter 2010. This represents an increase of 5.1%, compared with 7.4% in the previous quarter (see Annex A).

URA also released the flash estimates of the price changes in the 3 geographical regions for 1st Quarter 2010. Prices of non-landed private residential properties increased by 4.5% in Core Central Region, 7.2% in Rest of Central Region and 3.9% in Outside Central Region in the quarter (see Annex B). In comparison, for 4th Quarter 2009, prices of non-landed private residential properties increased by 7.3% in Core Central Region, 9.5% in Rest of Central Region and 6.3% in Outside Central Region.

The flash estimates are compiled based on transaction prices given in caveats lodged during the first ten weeks of the quarter supplemented by information on the number of new units sold. The statistics will be updated 4 weeks later when URA releases the full 1st Quarter 2010 real estate statistics, when more data on the caveats lodged and the take-up of new projects are captured. Past data have shown that the difference between the quarterly price changes indicated by the flash estimate and the actual price changes could be significant when the change is small. The public is advised to interpret the flash estimates with caution.

URA will continue to release relevant property market information in a timely manner to allow the public to make informed decisions. On the supply side, the statistics on private residential units in the pipeline, which were last released in January 2010, will be updated in the 1st Quarter 2010 Real Estate Statistics to be released on 23 April 2010.
===============================

Happy reading

]]>https://forum.kiasuparents.com/post/155508https://forum.kiasuparents.com/post/155508Wed, 07 Apr 2010 06:45:26 GMT<![CDATA[Reply to Property questions on Wed, 07 Apr 2010 02:40:00 GMT]]>

Funz:
Busymom:

[quote=\"hquek\"]
I only know, at present, CPF can be used for only 1 property at a time - unless you have set aside to meet the minimum requirement prevailing. Yours is existing but because you have never used CPF on that, so I'm not sure if they will allow this application. Better to check with them.

Really? We have been using our CPF for 2 properties, and even 3 at one point.

Yah, have been financing 2 hses with our CPF. Think it is not the number of properties that matter but the max amount usable.[/quote]If you bought your property before 1 July 2006, you can use CPF to pay all your properties.

But govt new ruling in 2006 states that you can only use CPF to pay off 2nd/more properties bought after 1 July 2006 IF you have set aside the prevailing Minimum Sum cash component.

http://mycpf.cpf.gov.sg/CPF/Templates/SubPage_Template.aspx?NRMODE=Published&NRORIGINALURL=%2FCPF%2FNews%2FNews-Release%2FN_13June2006%2Ehtm&NRNODEGUID=%7B70308BA5-35CC-4382-84D9-0B5E513A6995%7D&NRCACHEHINT=Guest#2

]]>https://forum.kiasuparents.com/post/155289https://forum.kiasuparents.com/post/155289Wed, 07 Apr 2010 02:40:00 GMT<![CDATA[Reply to Property questions on Wed, 07 Apr 2010 00:56:34 GMT]]>I spoke to my agent yesterday and she was asking us to go for NE line developments. Eg. those near Serangoon MRT, etc... with the circle line. She also said that 2 bedroom + study is very hot now. The moment she put up for rental, the response is overwhelming....


Let's use this thread to share our latest thinking on property related matters. There is so much to learn from each other :lol:

It would be interesting to start another thread on shares too 😎

]]>https://forum.kiasuparents.com/post/155171https://forum.kiasuparents.com/post/155171Wed, 07 Apr 2010 00:56:34 GMT<![CDATA[Reply to Property questions on Tue, 06 Apr 2010 14:34:28 GMT]]>It’s refreshing to see so many ladies/mummies who are into properties . . fantastic. Where are all the daddies huh ? This is our topic, man !

]]>https://forum.kiasuparents.com/post/155054https://forum.kiasuparents.com/post/155054Tue, 06 Apr 2010 14:34:28 GMT<![CDATA[Reply to Property questions on Tue, 06 Apr 2010 12:10:12 GMT]]>Yes there’s a chance the luxury sector may play catch up after foreign relative value investors discover the "value" in Singapore property.

]]>https://forum.kiasuparents.com/post/154985https://forum.kiasuparents.com/post/154985Tue, 06 Apr 2010 12:10:12 GMT