A blog reader shared with me that he had put down a deposit to buy a property for investment. When he applied for a housing loan, to his big surprise, the bank told him that he couldn’t pass the TDSR (Total Debt Servicing Ratio) test. “I thought I was financially sound. How could I possibly fail the stress test?” Another reader was checking with the bank to refinance his … [Read more...]
When the housing market collapses
Remember the infamous Fannie Mae and Freddie Mac that kick-started the last financial crisis? Last month hedge fund Bayview Financial bundled their junk securities into $118 million new bonds. Fitch Rating immediately stamped it with A- for investment grade. Didn't they do the same for subprime mortgage bonds that were once top-rated AAA debts before the US housing … [Read more...]
Sound advice for housing loan borrowers: An expert interview
Recently I had an interview with Wayne Quek, Director of mortgage consultancy firm Home Loan Whiz, to understand more about how property financing and SIBOR rates work. Below is a summary of our conversation. PS = Property Soul Wayne = Wayne Quek, Director, Home Loan Whiz PS: Could you share with us the main factors affecting housing loan interest rates? Wayne: There are … [Read more...]
Why you can’t miss the opportunity to learn about housing mortgage
Recently, I have received many enquiries about Property Club Singapore and our upcoming event. Below is a list of Q&As for your easy reference. Q: How is Property Club Singapore different from any property group? A: I think we are all tired of property talks and seminars organized by industry stakeholders with vested interests. As potential buyers and property … [Read more...]
Mortgage Information and Networking Luncheon (August 1, 2015)
Making A Smart Move For Your Mortgage An Information and Networking Luncheon by Property Club Singapore Synopsis With the rising SIBOR rates hitting the home loan market, how would it affect homeowners? What precautions should property owners and investors take to cushion the impact of interest rate hike? How to make a strategic choice out of refinancing, repricing and … [Read more...]