If mortgage ur paid up property, what is interest rate like?

[Relacklabrudder]

hi,

 

just findout if u have a property paid up, but u need $ to finance certain personal project.

 

mortgaging ur property, how much do the banks charge for interest ?

 

i trying to find to fin this info from various banks, but all end up only info for home loan.

[D3badge]

hi,

 

just findout if u have a property paid up, but u need $ to finance certain personal project.

 

mortgaging ur property, how much do the banks charge for interest ?

 

i trying to find to fin this info from various banks, but all end up only info for home loan.

 

1% or slightly lesser if you are private banking customers.

Edited October 25, 2011 by D3badge

[Shemmy]

it's called a term loan. There are fixed or sibor repayment package. try ocbc or uob.. both got longer repayment package. it's like a housing loan.

 

If you got existing OD on other property, can only get 60 percent of existing value or else it's 80 percent

[Chucky2007]

hi,

 

just findout if u have a property paid up, but u need $ to finance certain personal project.

 

mortgaging ur property, how much do the banks charge for interest ?

 

i trying to find to fin this info from various banks, but all end up only info for home loan.

Interest rate is typically the same as new housing loan interest rate. It's called 5th charge term loan. Only applicable for private property not Hdb.

[Soya]

hi,

 

just findout if u have a property paid up, but u need $ to finance certain personal project.

 

mortgaging ur property, how much do the banks charge for interest ?

 

i trying to find to fin this info from various banks, but all end up only info for home loan.

 

 

pte or hdb? if it's the latter, forget it.

if pte, it may be treated as an overdraft facility wif the property as a collateral. but % OD interest is high. depending on ur relationship wif the bank, the overdraft limit might be capped at 80% of the cash valuation, i.e less CPF and whatever $$ owing. but best to talk to ur RM to help work something out for u.

 

 

 

 

[Relacklabrudder]

pte or hdb? if it's the latter, forget it.

if pte, it may be treated as an overdraft facility wif the property as a collateral. but % OD interest is high. depending on ur relationship wif the bank, the overdraft limit might be capped at 80% of the cash valuation, i.e less CPF and whatever $$ owing. but best to talk to ur RM to help work something out for u.

 

 

Not HDB, private. relationship with bank? no la, not a biz who normally associate with banks. is it true as someone said the interest is ~ new home loan rate?

[Soya]

Not HDB, private. relationship with bank? no la, not a biz who normally associate with banks. is it true as someone said the interest is ~ new home loan rate?

 

doubt so as the cash out is not considered a home loan.

[Relacklabrudder]

doubt so as the cash out is not considered a home loan.

 

 

No, I want borrow a lump sum of $, so want to mortgage my paid off private property. But wat is the interest rate?

[Latio2005A]

No, I want borrow a lump sum of $, so want to mortgage my paid off private property. But wat is the interest rate?

 

Walau, bro, this sort of questions should be posed to the bank officers.

 

The gist is: You can only loan upto the amount less CPF plus acrued interest due to CPF. Also subj to max 80% cap. The above I summarised for you from the earlier posts. The rest, best to check with banks. Not difficult right?

 

[Soya]

No, I want borrow a lump sum of $, so want to mortgage my paid off private property. But wat is the interest rate?

 

wat rate u wanna hear? ah long 20% pw + 10% for every day late. ai mai?

[Relacklabrudder]

Walau, bro, this sort of questions should be posed to the bank officers.

 

The gist is: You can only loan upto the amount less CPF plus acrued interest due to CPF. Also subj to max 80% cap. The above I summarised for you from the earlier posts. The rest, best to check with banks. Not difficult right?

 

 

I not buying house , only wan borrow $ and using the paid up property as collateral

[Chucky2007]

pte or hdb? if it's the latter, forget it.

if pte, it may be treated as an overdraft facility wif the property as a collateral. but % OD interest is high. depending on ur relationship wif the bank, the overdraft limit might be capped at 80% of the cash valuation, i.e less CPF and whatever $$ owing. but best to talk to ur RM to help work something out for u.

No more OD using property as a pledge.. mAS has banned all new application for property OD

[Chucky2007]

Not HDB, private. relationship with bank? no la, not a biz who normally associate with banks. is it true as someone said the interest is ~ new home loan rate?

Yes interest as with new home loan rate.. Have been so for this 2 years. Subjected to changes in future

[Chucky2007]

doubt so as the cash out is not considered a home loan.

Time to update market info.. The interest rate are as per new home loan rate for this period.

[Chucky2007]

I not buying house , only wan borrow $ and using the paid up property as collateral

Call ocbc. For additional 5th charge term loans, they are most flexible and competitive.. Forget about comparing with other banks for your case. If I am right, u buy me dinner ok bec I give u correct market I fo and help u save time

[Sabbie]

Call ocbc. For additional 5th charge term loans, they are most flexible and competitive.. Forget about comparing with other banks for your case. If I am right, u buy me dinner ok bec I give u correct market I fo and help u save time

Yr info very current compared to soya, call me la I work for shittybank can give you 5th charge term loan or I can get my rm at Ocbc to call TS also

[Chucky2007]

Yr info very current compared to soya, call me la I work for shittybank can give you 5th charge term loan or I can get my rm at Ocbc to call TS also

U never give number then how to call u?

[Chucky2007]

Yr info very current compared to soya, call me la I work for shittybank can give you 5th charge term loan or I can get my rm at Ocbc to call TS also

Which shittybank office are u at? I didn't know shittybank has financial planning department. How long have u been working there?

Edited October 26, 2011 by Chucky2007