Housing Loan Singapore

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Providing online home loan services since 2009

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.

Definition

Demand Clause

A demand clause is a provision in the mortgage loan agreement contract in which the lender has the right to recall the loan for any reason.

This is very different from an acceleration clause as acceleration can only be triggered should certain events occur.

A demand clause give a lender more power to exert on a borrower than an acceleration clause.

For example, a lender can propose an increase to interest rates on a home loan. If the borrower refuses to accept it, the lender can legally recall the loan and demand immediate full repayment.

Lender who include demand clauses in their loan contracts often try to present it like these terms are present in all loan agreements in the market.

But the average consumer might mistake acceleration clauses in other banks as demand clauses, then accept he demand clause thinking that it’s just industry practice.

While demand clauses are seldom exercised without fair justification, it’s not a fair way to deal with consumers.

For example, if a mobile network operator inserts a clause in the contract saying that they can take away your phone number at any time, would it be fair practice?

If you see a demand clause in a mortgage contract, do sound it out to the banker and request for it to be removed. Sometimes, just asking for something can reap surprising rewards.

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It makes absolutely no sense to pay more
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What We Do For You

We Gather And Provide You Information On The Best Housing Loans In Singapore So That You Can Make A Better Decision Based On What Is Available In The Market

Which bank do you recommend for home loans in Singapore?

We don't recommend banks. We recommend you the best home loan that suits your profile and financial position.

How Does SOR Rates Hit Negative Value?

SOR rates are calculated with a complex financial formula, solved with simple algebra. The results of solving the equation therefore depends on the inputs used. Varying inputs that result from economic impacts and indicators can lead to negative value when the formula is solved. Key input indicators include USD/SGD spot rates and USD/SGD forward rates.

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.

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.
Want to see housing loan interest rate trends for the last 36 months?

Enter your email below so we can send it to you.

It makes absolutely no sense to pay more
than you have to on a home loan.

Find the best mortgage rates here
SEE RATES
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It makes absolutely no sense to pay more than you have to on a home loan.

Find the best mortgage rates here
VIEW TODAY'S RATES
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