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.
