Mortgage payment issues faced by those with outstanding home loans with lenders must be promptly attended to so as to avoid nasty surprises and the loss of your home. On 3rd November, Channel NewsAsia (CNA) reported the case of Ms. Jasmine Gowrimani Daniel who is facing eviction from a flat she purchased in 2001 due to her alleged failure to pay her mortgage for several years. The Housing Board (HDB) claims she owed approximately S$106,000 (US$77,800) by May 2020. Despite Ms. Daniel’s attempts to contest her eviction in the district court, her case was dismissed in a judgment dated November 3 ..read more

Recent developments in the United States economy, particularly the signals from the Federal Reserve suggesting a commitment to stable interest rates and a pause in further tightening measures, are sending interest rates ripples indirectly through Singapore’s home loan market. Here’s a closer look at how these developments may impact Singaporean borrowers and investors: 1. Global Economic Stability: The Federal Reserve’s decision to postpone interest rate hikes signifies a dedication to global economic stability. This stance can have a positive influence on investor sentiment worldwide, includ ..read more

Discover the latest trends in fixed rates home loans in Singapore. Explore how interest rates for home loans have been steadily declining, creating attractive opportunities for borrowers. Learn about competitive offers from top lenders such as DBS, OCBC, UOB, and HSBC. The interest rates for home loans have been steadily declining since the beginning of the year, signaling an advantageous trend for borrowers seeking fixed rates home loans in Singapore. This downward trajectory is expected to continue, making it an opportune time for individuals looking for stable and predictable mortgage opti ..read more

In the realm of home loans, prudence plays a pivotal role in managing financial commitments. This is the reason why we need to delve into the significance of prudence in the context of home loans and financial commitments. Drawing insights from the Ministry of National Development’s recent response to a parliamentary question, we explore key factors such as outstanding loan balances, loan sources, and their implications for homeowners. Understanding Financial Commitments in Home Loans: A comprehensive understanding of financial commitments in home loans is essential. As highlighted by the Min ..read more

Residential property prices decline in Singapore was 0.4 percent in the second quarter. Does it signal a shift in the housing market prices? What will be its implications for housing loans? Residential property prices decline in Singapore was 0.4 percent in the second quarter, signaling a shift in the market. Measures implemented since December 2021, including increased ABSD rates, have contributed to the recent price decline. The moderation in price momentum is evident across all market segments, suggesting signs of market moderation. While it is too early to determine if the decline will b ..read more

Is there a way to discover the ultimate “home loan hack” to make your dream of owning a home in Singapore a reality? In Singapore’s competitive real estate market, finding the right home loan can be a daunting task. However, with the right knowledge and strategy, you can discover the ultimate “home loan hack” to make your dream of owning a home a reality. This comprehensive guide aims to empower Singapore mortgage seekers with valuable insights and practical tips to navigate the mortgage landscape and secure the best home loan deals. Understanding the Singapore Mortgage Market Before diving i ..read more

Here are some signs that a homeowner is paying more home loan than they should: High interest rates: One of the most obvious signs is if the homeowner is paying a higher interest rate on their home loan compared to the market rate. This could happen if the homeowner didn’t shop around for the best rate or failed to renegotiate their loan after the lock-in period expired. Long loan tenure: A longer loan tenure means that the homeowner will end up paying more in interest over the life of the loan. If the homeowner has a very long loan tenure, it may be an indication that they are paying more t ..read more

Artificial intelligence (AI) like Home Loan Report, has revolutionised several industries, and the mortgage broker business in Singapore is no exception. iCompareLoan’s Home Loan Report With the help of AI, mortgage brokers can now provide better and more accurate advice to their clients. It is undeniable that AI is changing the mortgage broker business in Singapore and we have to scrutinise its impact on the industry. Firstly, AI has made the process of mortgage application and approval faster and more efficient. Traditionally, the mortgage application process is quite lengthy and cumber ..read more

The increase in medium term interest rates has significant implications for individuals seeking to purchase a home through a home loan. Singapore has recently witnessed an increase in medium-term bank interest rates. Rates in some banks are set to rise again from Friday (24 March), with rates rising from 4.5% to 4.7%. This news has implications for homebuyers who are seeking to purchase a home through a home loan, as the interest rate used to calculate eligibility for such loans has also been increased to 4.7%. The medium-term bank interest rate in Singapore is a benchmark rate that banks use ..read more

A mortgage is one of the biggest financial commitments that most people will make in their lifetime, and as a homeowner in Singapore, it is essential to stay on top of your mortgage payments to avoid the risk of foreclosure and maintain your credit score. Here are five tips to help you stay on top of your mortgage payments in Singapore. Choose the Right Mortgage The first step in staying on top of your mortgage is to choose the right type of mortgage. There are several types of mortgages available in Singapore, such as fixed-rate mortgages, floating-rate mortgages, and hybrid mortgages. Each ..read more