Yeah, i also heard from my client some banks actually now offering zero lock in period. Thats great but can show me offer letter? opps, only verbally promise. ??? Maybe some banks will offer zero lock in period but then there are T&C applicable.

You see, client don't want to have lock in period cause most of them are investors and they want to settle off the loan once price is good and potential buyer. Banks usually want to earn few front years of the loan, ex. 3 or 5 years lock in @ 3% of loan amoint. We pay interest more at the first few years, less on principal amount. So bank surely want to tie you up for few years before you decide to move to other banks.

If the property is for own occupied, the lock in period shouldn't be a hassle to you as you can always choose to refinance with the same bank when the rates are cheaper. Same situation, you move to other bank or refinance, you still need to pay legal and valuation fee. Benefit only, refinance you can get some cash out for other investments.