Interested to know more about standard chartered plan..what is the cash back all about?

anyone can share?

Thanks home_save for the explanation.
Can help me to clear some doubts?Actually we really confused on which to take.

a)is the above calculation based on assumption blr will not increase?

B)since it's semi flexi for bank 2,if I every month dump in more,will I save more interest as compare C?

C)let's say blr increase four times in this 3 years ie 0.25 each time,then my interest rate will be 5.05 for bank 3.end up, I will be paying more right?


Appreciate your advice.
Many thanks.

This post has been edited by childish_gal81: Sep 24 2010, 07:32 AM

HI,

Thanks for the reply.

Just to correct my understanding.
So, the bank 3 rate will only be good if the BLR increase to 6.8% next year.
Correct?

If BLR = 6.8%, then for Bank 2, the interest rate for 2nd and 3rd year will be 4.55.
Means from bank 3, I can save 0.15.

From year 4th onwards, bank 2 and bank 3 should be the same right? cos bank 3 also BLR-2.3 thereafter.

hmm..

This means the first 3 years are actually more critical.
So, the lower the interest should be better.

Does the tenure makes difference here?
Bank 2 = 35 years
Bank 3 = 40 years


If we plan to sell off this property after 5 years, does the above still applicable?

Hi,

If BLR goes beyond 6.65% after 4th years, it will be the same for Bank 2 and Bank 3 right?

Anyway, thanks for your kind advice. Will think about it carefully before I sign the dotted line..sigh..all plans got their pro and cons..

Hi,

the first bank loan officer called me.he said we will save more with the following loan package ;

1-3 year : fixed 4.15
thereafter blr -1.9

What do u think?
Property under construction.expected to be ready by end 2011.
Plan to sell of in 5 years time if possible.

Thanks chris.
yea,that's y I consult here.at least in forum less bias.
Means in my case bank 3 is out of consideration?
Both bank 1 n 2 is lock down 3 years from first draw down.
Just that bank 1 is only 36 years tenure while bank 2 is 40 years.

Where is the property location?

why geh? Is TIGER that bad?
Now i'm considering TIGER as well.
Will their disbursement slow?

How bout the disbursement? Fast also?

Yea yea..is there any bank can provide that rate?
So far none of the bank can offer us with BLR-2.4.
The best is BLR-2.3..
We had asked OCBC, HSBC and tiger

Haha..

Fainted.. Anyway, we decided to take up OCBC at the end..
Fixed 4.15 for year1-3, thereafter BLR-1.9.

Hi,

i think it's better for u to submit a few banks to get the value..
I realise that different bank,they get different value..
Alternatively,u can call the agent around that area to get the estimated value.
They can tell u based on past experience

Oh..that interesting..will PM you with my properties details..no charges?

HI,

Anyone knows what does OD facility means?
Is it every home loan (semi flexi) comes with OD facility?

why we need OD facility?

Oh thanks..

Why should we apply for OD? Is it like personal loan?

Hmm..so far, I only know EON got such offer.
OCBC, HSBC, Maybank - lockin 3 years

Hmm..i did consider ING as well..but paying 4.85% now seems much higher.
I read somewhere that first 3 years, most of our installment goes into interest payment and only a small portion on principal..

So, I took those normal BLR-2.3%.
I think there is pro and cons for both package.
Just that I dont want higher commitment now. So, I take the bLR-2.3% plan and will try to repay more each month. By doing this, at least my principal can be reduce a bit more.

Please correct me if my understanding is wrong..

I have been to Savanna 2. It is near golf club. For this phase, its low density and fully guarded.
I heard the price went up to more than 1 million.
You still can get at 950?

You plan to stay there?