SIBOR or SOR?

SIBOR is generally more stable while SWAP tend to fluctuate more. However 3-month SWAP has recently stayed consistently lower than 3-month SIBOR for an extended period of time. SOR is also very reactive to currency exchange rates.

Which bank offers the best home loan deals?

Interest rates and spreads are not all that matter. Don't ignore the closing costs involved. Different banks can have different customized home loans for you. Don't be surprised if you will save more on a home loan that charges more interest because of the lesser closing costs involved. This is especially so if you know that you will refinance your home loan as soon as the lock in period has expired.

HDB loan or bank housing loan?

Our opinion is to always take a HDB concessionary loan if you are eligible for one. One of HDB's objectives is to to provide affordable housing for the people. While a bank is profit driven.

Mandatory Disclosure

Mandatory disclosure is the set of rules and regulations governing the type of information that must be informed to borrowers, including the methods and timings in which they are done.

These rules usually arise due to the authorities becoming concerned about the market.

The fear is that consumers don’t really understand the dynamics of the credit facilities they are signing up to. These can make them victims to predatory lending.

Mandatory disclosure will at least ensure that borrowers are presented with critical information regarding their home loans.

An example is the amortization schedule that home loan applicants must endorse before proceeding with the loan application.

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