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How to Maximise Use of CPF Savings for Home Loan Instalments?

Written by Patricia Hung on .

In general, most of us will use CPF savings to pay for our properties. In this way, it will mean forking out lesser in cash and the additional cash on hand can be set aside for other uses.

Most people will also choose to maximise the repayment period on home loans to reduce the monthly instalments. One risk is that we might not be able to use our CPF savings to pay for our home loan instalments before the maturity of the loan.

This will happen when our properties reach the CPF Valuation Limit and Withdrawal Limit.

MAS New Loan Tenor Rule - Max 35 years. What are the implications?

Written by Patricia Hung on .

For the last 1 week, banks are withdrawing freebies/benefits which normally come with a housing loan package. A move prompted by MAS which is suspected to be control measures to tighten up the property market a little but which has been implemented in a subtle manner through the banks, without much publicity.

On 5 Oct 2012 Friday late evening, MAS announced yet another tightening measures on the property market. This time is on the loan tenor limit.

Removal of Legal Subsidy, Valuation Subsidy and Free Fire Insurance

Written by Patricia Hung on .

Banks have recently removed freebies that are normally offered to Housing Loan customers (for both HDB and private residential properties). These benefits include legal subsidies, valuation subsidies and free fire insurance for first year. Under the MAS guidelines, these benefits are considered cash rebates and should be deducted from the purchase price before arriving at the loan amount. This is similar to discounts or rebates for stamp duty, furniture and renovation offered by developers, which are to be deducted from the purchase price first before arriving on the loan amount.