Home Loan Repayments can now stretch to 50 years Options

[Wt_know]

million dollars 999 years and FH property will become sibei affordable liao ... huat ah!

they should only allow for landed...cos landed survive few gens.

[Zze121]

Once interest shot up, every month just pay interest.

[Old-driver]

grandpa pay 30 years
father pay 30 years
you pay 30 years

90 years loan is the best !!!
everyone can take smelly smelly $2,000,000 loan spread to 3 generations .... huat ah !

Just nice, lease almost over

This post has been edited by Old-driver: Jul 21 2012, 09:47 AM

[Wt_know]

just nice, since many live on borrowing future time ....

Just nice, lease almost over

[Ah_Zai]

buy within your means. This 40 / 50 years loan applicable more for private property.

[Latka]

just nice, since many live on borrowing future time ....

Its a new type of slavery, financial slavery.

[Porche]

i think our children will be jia luck in years to come, lucky i marry early pigeon hole cheap cheap, finish the loan liao else chum

[Arixlim]

its a inflated sales pitch, for hard up hard sell, as a open invite but u want come la...gonna be shoe-box people again, i like geylang but i want it in orchard to rename to geylang....this is so wrong...just the 90 10 downpayment is thumbs up le lar... what else u want....developer u dun rein in..but they still profits rights, 1 project sale can built thousands of houses somewhere....i have no money, so i think i maybe one of them, but jalan dato abdullah tahir(jB) have new project, and they welcome me big big...but i still dun go...haha..confusing neh...... i dun agree the 50 years loan, cos who know 18 years old buy house, equal 68 nice nice die... and during these 50 years sure got economic crises , anytime to theng kor get the butt buttered...haha..thumbs up again har...barclay already show u can rigg the interest rates, oh come on....dun buy die,...buy also die... but slower..or faster..still got chance to survive..haha.. very misleading again hor... i also dunno how..

[Ngck]

50years for ppl who chiong rental income...

no rental income then sell backside

[Matdxb]

If not happy to take 50 years loan then pay in full amnt lah, ha ha ha.

[Busybody]

If you can't repay your housing loan in 30 years, it's maybe time to look into quitting this country. That's the take home (no pun intended) message.

Offering this 50 year loan sets a very dangerous precedent. It's a slippery slope to generational debt.

Agree

[Liping24cn]

Just imagine a rich man....who is able to leverage on the 50 years loan to buy alot of properties for rental gains.
I think common people should be able to Leverage on this 50years loan scheme.

Imagine most are on 30years loans, so they have to set their rental at a certain rate( based on 30years ROI)
But a richer person come along( with millions in his bank), and the bank gave him preferential 50years loan terms. He is able to profit more from rental, cause his outlay monthly installment is lesser than those on 30years loan scheme. Thus his ROI can be lower and he is able to rent out and make more $$$ money, or even lower his rental rates and still makes profit.

[Albeniz]

better pray that one could keep his job while servicing his 50 year loan

[Jasonjst]

Just imagine a rich man....who is able to leverage on the 50 years loan to buy alot of properties for rental gains.
I think common people should be able to Leverage on this 50years loan scheme.

Imagine most are on 30years loans, so they have to set their rental at a certain rate( based on 30years ROI)
But a richer person come along( with millions in his bank), and the bank gave him preferential 50years loan terms. He is able to profit more from rental, cause his outlay monthly installment is lesser than those on 30years loan scheme. Thus his ROI can be lower and he is able to rent out and make more $$$ money, or even lower his rental rates and still makes profit.

You are right . UOB not stupid one lah , 50yrs loan is for those high net worth , not everyone can apply . Didnt the report say must have 200K FD with them , for just a small loan . You got no money , even Ah Long also siam you , OK .

This post has been edited by Jasonjst: Jul 22 2012, 10:14 AM

[Wt_know]

i don't think 50 years loan is targeted for richie only ... more to middle class to extend their loan gearing
as long as the downpayment is minimum 20%-30% + collateral (ie: existing property/hdb) ... should be no problem to get 50 years loan
if loan is defaulted 3-6 months can force sell ... sure make another profit
the question is not about richie ... it's about default and as long as the risk is mitigated
actually no risk to bank .... 20%-30% downpayment is already mitigate the shortfall and bank has the 1st right to get the property (the property actually belongs to the bank anyway)
it's a zero risk game for bank
the problem with usa subprime loan is because sibei low downpayment almost like 90%-95% loan + zero collateral and when the house price falls 20%-30% foreclosure also no use and banks has no holding power (over leverage)

You are right . UOB not stupid one lah , 50yrs loan is for those high net worth , not everyone can apply . Didnt the report say must have 200K FD with them , for just a small loan . You got no money , even Ah Long also siam you , OK .

This post has been edited by Wt_know: Jul 22 2012, 11:50 AM

[Enye]

Property loans should be like car loans.

99 year property can take 99 years loan

999 year property can take 999 years loan

and freehold property.....



This post has been edited by Enye: Jul 23 2012, 04:33 PM

[Hammerhammer]

Property loans should be like car loans.

99 year property can take 99 years loan

999 year property can take 999 years loan

and freehold property.....

Wah then the bankers all run road....Lol

[JimmyMcG1978]

Does anyone know if the other banks are following suit? I hope not. I don’t really like the idea of servicing a loan for 50 years! I went to posb home loans page, looks like they are still sticking to the 40 year period. Any other banks?

[Altivo]

Does anyone know if the other banks are following suit? I hope not. I don’t really like the idea of servicing a loan for 50 years! I went to posb home loans page, looks like they are still sticking to the 40 year period. Any other banks?

Dude, you can always dictate the loan tenure.

Or what my dad did last time to take advantage of the promotional rates was to get into a 30 yr loan with the bank. Then after the lock-in period of 3 years, he did a full payment for the remaining loan.

[Felipe]

More impt is downpayment. Loan tenure can take as long if know how to make money elsewhere.