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Refinance, Should I? BLR down
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Pai
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 Nov 26 2008, 09:57 AM
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fookeesan,
Its gonna be a very expensive affair if u opt to refinance now. While short term BLR is expected to be even lower, but u never gonna know whats gonna happen in 2010 or 2011. Y not stay put n have some peace of mind especially when u know the storm is coming, real soon.
Stop making impulse decision again, and have a long term outlook. Relook at this again in 5 years time once your lock in period is over. FYI, AIA DOES have lock-in period IF you REFINANCE within 1st 5 years, correct me if im wrong.
Fyi, was never a big fan of AIA fixed rates coz I think its really expensive, but the next 2 years its gonna be one hell of a ride. It could be useful.
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Pai
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Nov 26 2008, 11:13 AM
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fookeesan, do also check if the banks are willing to refinance an undercon property. Most of the banks I know doesnt do undercon refinancing. Good luck  |
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Pai
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Nov 26 2008, 06:37 PM
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QUOTE(cute_boboi @ Nov 26 2008, 06:22 PM) For me, I would calculate on the savings over 5 years for short/medium term plan also. As after 5 years, I might refinance again if there are better package. However, take note that after 5 years, there may not be better package available if BLR rises !!! Hence, you are stuck with fluctuating BLR and may pay more over the 30 years. Very good point here. I'd also discourage anyone from taking up loans with lock-in period of more than 5 years. Just compare the rates that were offered 5 years ago VS today's rate and u'll see what I meant. |
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Pai
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Nov 27 2008, 11:23 AM
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my view is that ZMC is a very useful tool IF you r buying investment properties as it helps you lower you capital expenditure. For own use properties, try to go for non-ZMC if u really can afford it as u'll benefit in the long run.  |
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