Housing Loan

[kalimantan 6]

wow, borrow close to 1m ...when i was your age (at 36) ...i do not remember borrow that much ...

i guess younger generation superb man !

[therat 18]

Wife prefers "secured" type of financial committments: fd, endorsement, fixed int rate mortgage loan, to her everything "should be" measurable, managable, controllable kind of philosophy, lesser returns never mind, pay more also never mind, important think is "risk factor", as we are living in a world with vast of uncertainties whereby Feng Shiu strategies offered by fsms, at most times, are inappropriate, without taking details into consideration. Fire always start from small.

hahaha

sound like me.

May be all wife having the same frequency channel

[bepgof 20]

hahaha

sound like me.

May be all wife having the same frequency channel

She said

" Small things i decide, big things you decide, i decide what is small and big."

Also said: "your is mine, mine is mine."

Same?

[therat 18]

She said

" Small things i decide, big things you decide, i decide what is small and big."

Also said: "your is mine, mine is mine."

Same?

wahahaha

when wife say it is same, then it is same

[HappyHouse88 0]

wow, borrow close to 1m ...when i was your age (at 36) ...i do not remember borrow that much ...

i guess younger generation superb man !

cos' your time interest rate not so low meh....

aniway, we have park the $$ in fd etc. Cos' FD interest rate is higher than borrowing rate. Not really 1m in absolute liability meh.

Edited October 30, 2012 by HappyHouse88

[mariajames 0]

I adopt to authenticate what I've learned(competency), whether ability or skills, again administer them to "test water" to see if these absolutely work

[bepgof 20]

I adopt to authenticate what I've learned(competency), whether ability or skills, again administer them to "test water" to see if these absolutely work

We face all sorts of uncertainties which happen in the patterns of "seemed randomly", "coincidentally" and they definitely governed by laws of natures. Humanic laws govern human behaviour.

To control/administer uncertainties in order to sustain predictibilty, stability....in a more orderly manner, human creates educational system enabling the youngs and the olds to be "steady" in an unsteady and fast-changing environment.

So learning, skills...are important, don't depend on "luck"- the last resort-either make it or break it.

I don't wish ppl "good luck", I wish "do yr best".

[rijac 0]

hi there. just got a question about local versus foreign banks. someone told me once there is some disadvantage of taking housing loan from foreign bank - i can't remember what it was. does anyone know?

thanks.

[jaglim 0]

Every local banker will tell you this myth. Frankly, no banks will be to your advantage if things turn sour.

So my opinion is go to the one that offer you best rate (that is usually from oversea banks).

Then again, do check their records, there are some foreign banks that are not so friendly or location oriented. You might have difficulty when you need quick assistance.

hi there. just got a question about local versus foreign banks. someone told me once there is some disadvantage of taking housing loan from foreign bank - i can't remember what it was. does anyone know?

thanks.

[bepgof 20]

hi there. just got a question about local versus foreign banks. someone told me once there is some disadvantage of taking housing loan from foreign bank - i can't remember what it was. does anyone know?

thanks.

Have to thanks to technology, especially telecommunications that make markets to work in an efficient way, meaning everybody can access to and receive the same infomation for decision making, and therefore whenever there is a small "gap", it would be filled up immediately.

One has to be fast hand and fast leg to "grasp, make, then run", later come back to make same actions again.

Back to yr questions:

- Fundamentally in different. But think of the "convenience" of cheque deposit facility, atm, branch, service, online transaction, etc. Sure the "foreign" bank lose out to local ones.

- So, to be on "competitive edge" to counter these disadvantages, these foreign banks always have to come out "some patterns" to woo customers for own survival(mortgage loan)= lower interest rate or some kind of rebate, gift, discount....

- Forget not that Singapore Central banking regulatory board (MAS) has duties to ensure banking licenses being granted to "sound" foreign banks, however, it doesn't guaranteed consumers of these banks to be 100% risk free. In other words, in chaotic economic time, these banks can "run" away easier than the local ones.

- Generally, foreign banks take a more "daring" approach in granting mortgage loans. Local ones are more "reserved", they prefer to have less default payment cases.

[jaglim 0]

I'm curious what happen if a bank does "run away" or say collapsed and no one takes over? Does that mean we don't have to pay installment anymore???

- Forget not that Singapore Central banking regulatory board (MAS) has duties to ensure banking licenses being granted to "sound" foreign banks, however, it doesn't guaranteed consumers of these banks to be 100% risk free. In other words, in chaotic economic time, these banks can "run" away easier than the local ones.

[dexterou 0]

I'm curious what happen if a bank does "run away" or say collapsed and no one takes over? Does that mean we don't have to pay installment anymore???

But then those who have alot of savings in the bank sure cry.

[EdmundTan 0]

In the case when oversea bank decide to close down their branches in singapore, they will allow a period of 3 to 6 months for all their customer to do a switch to other banks. However, as they are oversea bank they tend to be less stringent to you when u last borrowed from them. Now that you want to do a switch, it will be subjected to the new ruling, that also means that u may not be able to get as high a loan that you use to be having. all the shortfall must be make using cash....

I have one customer who had a bank IPA done at 600k for buying a HDB. however, when the new ruling came out, his IPA become 120k. that is a very vast drop from what they use to have.

[bepgof 20]

I'm curious what happen if a bank does "run away" or say collapsed and no one takes over? Does that mean we don't have to pay installment anymore???

What a joke!

That applies probably to ah long, wait long long.

[jaglim 0]

Hi Edmund,

When you say make a switch. Do you mean to switch your savings or loan to another bank? Savings as we know has limited guarantee from MAS and there should be no problem for any takers. But for a loan, i am curious to know what will happen?

In the case when oversea bank decide to close down their branches in singapore, they will allow a period of 3 to 6 months for all their customer to do a switch to other banks. However, as they are oversea bank they tend to be less stringent to you when u last borrowed from them. Now that you want to do a switch, it will be subjected to the new ruling, that also means that u may not be able to get as high a loan that you use to be having. all the shortfall must be make using cash....

I have one customer who had a bank IPA done at 600k for buying a HDB. however, when the new ruling came out, his IPA become 120k. that is a very vast drop from what they use to have.