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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.

50 years Home Loan, does it make sense? What are the pitfalls?

Written by Dennis Ng on .

As a Home Buyer, should you take a 50 year Housing Loan? As an Investor, would a 50 year loan period make sense to you?

As usual, I gave them so much more information yet they only published a fraction of what I provided.

The lady (home loan customer) in Channel News Asia yesterday is our customer and seminar graduate Serene Loong, ironically, her time on TV is much more than me...and they only telecast 1 sentence of the many things I worry is that what I want to warn the public was not given chance to be aired...and home buyers might take up 50 years loan without much thinking of the possible consequences.

We have probably reached the Peak in Singapore Property Market...

Written by Dennis Ng on .

What goes up typically eventually need to come down. I think we have more or less reached the Peak in Singapore property market, in terms of number of New private homes sold and the prices as well.

I look at the profile of buyers of the Red Hot New projects in suburbs, they are mainly first time home buyers, upgraders and First Time Investors. The very telling sign is the Absence of Seasoned and Experienced Property Investors...they have stopped buying property since Jan 2011...