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If you have house loan with shitty bank


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Turbocharged

 

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Cannot gibe points cos just gibe you recently.

 

I think the bank damn smelly. Halfway can just change your loan spread.

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Cannot gibe points cos just gibe you recently.

 

I think the bank damn smelly. Halfway can just change your loan spread.

 

It's not confirmed right. Maybe a misunderstanding.

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Supercharged

 

Cannot gibe points cos just gibe you recently.

 

I think the bank damn smelly. Halfway can just change your loan spread.

 

Isn't this how HDB sold their 2.6% interest rates to HDB buyers? non-adjustable unlike bank rates.

Should be commonly know that interest rates are adjustable every year, sometimes even quarterly.

 

POSB also sold it's loan product 10 years for 2.2% and remaining at prevailing interest rates.

 

At least the person was notified. Some banks don't even notify and when you ask them why, they will deny everything.

Wonder they can do it for car loan anot

 

If it's interest rates that deals with LIBOR or SIBOR, will confirm be adjusted one.

Unless stated in T&C, will not be adjusted for X amount of years.

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Cannot gibe points cos just gibe you recently.

 

I think the bank damn smelly. Halfway can just change your loan spread.

Shiitty shiitty bang bang [laugh]

In case any one Donno where all these cheeky cheeky bang bang comes from, it comes from an old show called

 

Chitty chitty bang bang

 

Quite a nice old show

Got old after war Europe

Nice show

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Turbocharged

 

Isn't this how HDB sold their 2.6% interest rates to HDB buyers? non-adjustable unlike bank rates.

Should be commonly know that interest rates are adjustable every year, sometimes even quarterly.

 

POSB also sold it's loan product 10 years for 2.2% and remaining at prevailing interest rates.

 

At least the person was notified. Some banks don't even notify and when you ask them why, they will deny everything.

 

 

If it's interest rates that deals with LIBOR or SIBOR, will confirm be adjusted one.

Unless stated in T&C, will not be adjusted for X amount of years.

Dey... It's not abt fixed or not fixed.

 

It's about the spread. If you take sign up for a 20yr home loan and the terms say 0.65%+3 mth sibor, it shd remain that way for the tenure of the home loan. So the effective rate will vary according to the 3 month sibor+0.65%.

 

The TS in that thread is kpkb abt his 0.65% being adjusted upwards unilaterally by the bank.

 

If like that, sign loan contract for fxxk?

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Supersonic

Yikes - my loan is under CB but I did not get the 0.65% spread so I might not be affected. (Hope not).

 

If this is true, then for my next renewal, I am going with another bank for sure even if their rates are slightly higher.

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Yikes - my loan is under CB but I did not get the 0.65% spread so I might not be affected. (Hope not).

 

If this is true, then for my next renewal, I am going with another bank for sure even if their rates are slightly higher.

 

Based on the terms and conditions as shown by some of forumers in the condosingapore website, bank always wins as they:

 

13.1 We shall, at our absolute discretion, be entitled to review the Facility at any time and from time to time and to decide whether

13.1.1 the Facility shall be cancelled, reduced or repaid; or

13.1.2 any terms relating to the Facility shall be varied in any way,

and such cancellation, reduction, repayment or variation shall be effective at the time that we issue a notice to you.

 

Taken from DBS website

http://www.dbs.com.sg/iwov-resources/pdf/loan/tnc_mortgageloan.pdf

 

Bank win liao loh......... [thumbsdown]

 

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Based on the terms and conditions as shown by some of forumers in the condosingapore website, bank always wins as they:

 

13.1 We shall, at our absolute discretion, be entitled to review the Facility at any time and from time to time and to decide whether

13.1.1 the Facility shall be cancelled, reduced or repaid; or

13.1.2 any terms relating to the Facility shall be varied in any way,

and such cancellation, reduction, repayment or variation shall be effective at the time that we issue a notice to you.

 

Taken from DBS website

http://www.dbs.com.sg/iwov-resources/pdf/loan/tnc_mortgageloan.pdf

 

Bank win liao loh......... [thumbsdown]

 

 

bank tio pwn

http://rt.com/business/man-outsmarts-banks-wins-court-221/

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Supersonic
(edited)

 

Won't happen here. When you sign a form to open a credit card, the bank doesn't even bother to acknowledge and send you back a copy of it....

 

Based on the terms and conditions as shown by some of forumers in the condosingapore website, bank always wins as they:

 

13.1 We shall, at our absolute discretion, be entitled to review the Facility at any time and from time to time and to decide whether

13.1.1 the Facility shall be cancelled, reduced or repaid; or

13.1.2 any terms relating to the Facility shall be varied in any way,

and such cancellation, reduction, repayment or variation shall be effective at the time that we issue a notice to you.

 

Taken from DBS website

http://www.dbs.com.sg/iwov-resources/pdf/loan/tnc_mortgageloan.pdf

 

Bank win liao loh......... [thumbsdown]

 

 

 

Isn't this the same type of clause the telcos tried to enforce when unilaterally adding a fee for 4G? I think they were forced to back down in the end.

 

 

In response to the recent announcement by StarHub to start charging SmartSurf customers who use their 4G service $2.14 a month from June 1, the Infocomm Development Authority (IDA) has investigated the matter.

 

Today, 4G services do not support voice and SMS services; these services are delivered over the 3G network. IDA understands that M1, SingTel and StarHub have offered 4G services as part of their mobile data bundle promotion and have positioned them as value added services (“VAS”) in their promotional materials and service terms and conditions.

 

However, IDA notes that there is significant consumer confusion over the service plans they signed up for. Under the Telecoms Competition Code, telecoms operators must communicate key terms and conditions to customers prior to service sign-up. Telecoms operators should not change prices mid-way that affect customers with minimum term contracts, if they were not clear to customers upfront what those price changes might be.

 

IDA agrees that the mobile operators could have been done more at points-of-sale and customer interface channels to communicate their 4G VAS position to subscribers. IDA has clarified the matter with the three operators. All the operators have since decided not to change 4G service prices for existing customers with minimum term contracts.

 

Key question now is if MAS is willing to stand up and say something as well and if the regulations the banks have to obey have a similar clause as the telecoms competition code.

Edited by Kusje
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Shiitty shiitty bang bang [laugh]

In case any one Donno where all these cheeky cheeky bang bang comes from, it comes from an old show called

 

Chitty chitty bang bang

 

Quite a nice old show

Got old after war Europe

Nice show

By james.bond author ... Lol

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Isn't this the same type of clause the telcos tried to enforce when unilaterally adding a fee for 4G? I think they were forced to back down in the end.

 

 

Key question now is if MAS is willing to stand up and say something as well and if the regulations the banks have to obey have a similar clause as the telecoms competition code.

 

Good point bro! Forgot about the Telco issue.

 

MAS should stand up otherwise we consumers will always be at the losing end in a heavily weighted contract in bank's favour which they can unilaterally impose anytime they wish. This really too much and I wouldn't have believe you if you've told me that bank changed the spread on an agreed housing loan. Let's see how this plays out cos IMO it's really unethical [thumbsdown]

 

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Supercharged

Dey... It's not abt fixed or not fixed.

 

It's about the spread. If you take sign up for a 20yr home loan and the terms say 0.65%+3 mth sibor, it shd remain that way for the tenure of the home loan. So the effective rate will vary according to the 3 month sibor+0.65%.

 

The TS in that thread is kpkb abt his 0.65% being adjusted upwards unilaterally by the bank.

 

If like that, sign loan contract for fxxk?

 

Ok noted.

 

But then again, the thread itself also took note that in all the banks T&Cs, there is an overriding clause that allows the bank to adjust rates as long as they notify the consumer. So, is this clause exclusive to Singapore only? TS also signed on the contract knowingly.

 

The question can then also be, how to get the RM to lower the spread (if possible at all in mass market conditions)?

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By james.bond author ... Lol

 

i also like the great race [grin]

quite funny got professor fate

dont think kids nowadays will like

no bash bash box box, they dont like

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Dey... It's not abt fixed or not fixed.

 

It's about the spread. If you take sign up for a 20yr home loan and the terms say 0.65%+3 mth sibor, it shd remain that way for the tenure of the home loan. So the effective rate will vary according to the 3 month sibor+0.65%.

 

The TS in that thread is kpkb abt his 0.65% being adjusted upwards unilaterally by the bank.

 

If like that, sign loan contract for fxxk?

If the adjustment is made after the customers contractual duration(first 3 years), then customers can always find another bank to refinance. So don't think MAS will do anything.

 

This is always the reason why I don't believe in life insurance, the t&c already win liao lor.

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