Puteri Harbour Community

[FHBH12]

new breakthrough....

OCBC has become the first local bank to offer local investors chance to finance their their KL or Iskandar properties with SGD at SGD interest rates!!

Before this, only Maybank n CIMB Singapore does that but spread is rather high at 100 basis points above SIBOR, and got some restrictions.

I expect with this move, more will follow suit especially UOB, then others like HSBC & Citibank.

With the local banks in, it will be more competitive and we k expect better terms

I believe it will affect or be affected by your TDSR.

 

[Dfiris]

I believe it will affect or be affected by your TDSR.

Of course TDSR should always apply, even if not by MAS, I feel investors should have a strict discipline as well and do not over leverage and have their own stricter guidelines. For me, I make sure mine is only 40% and shall never exceed 50%.

I am referring more to the rates. Singaporeans can enjoy low SGD interest rates as compared to Malaysians having to borrow on 4.2% to buy the Malaysian properties.

 

[OracleMasia]

new breakthrough....

OCBC has become the first local bank to offer local investors chance to finance their their KL or Iskandar properties with SGD at SGD interest rates!!

Before this, only Maybank n CIMB Singapore does that but spread is rather high at 100 basis points above SIBOR, and got some restrictions.

I expect with this move, more will follow suit especially UOB, then others like HSBC & Citibank.

With the local banks in, it will be more competitive and we k expect better terms

Any exchange loss will wipe out the benefits. I see the strength of SGD and weakness of ringgit to continue in the future.

 

[malpaso]

new breakthrough....

OCBC has become the first local bank to offer local investors chance to finance their their KL or Iskandar properties with SGD at SGD interest rates!!

Before this, only Maybank n CIMB Singapore does that but spread is rather high at 100 basis points above SIBOR, and got some restrictions.

I expect with this move, more will follow suit especially UOB, then others like HSBC & Citibank.

With the local banks in, it will be more competitive and we k expect better terms

wow, that is good news. anyone here with property in m,'sia and financed by singapore bank? i thought it was not allowed..

 

[malpaso]

Any exchange loss will wipe out the benefits. I see the strength of SGD and weakness of ringgit to continue in the future.

you're right. very good point.

 

[cybermad]

you're right. very good point.

but i thot we pay the loan in S$ ? if it stengthen agst RM, we pay lesser ?

 

[Dfiris]

Any exchange loss will wipe out the benefits. I see the strength of SGD and weakness of ringgit to continue in the future.

So u got to do your own calculations first.

Assuming history continue one sided, Ringit was 2.25 10 years back, today is 2.55

About 1.3% per year depreciation. So the borrower will stand to gain as long as the spread is higher than that. Also will save on the lower financing costs, which is higher at malaysia side at 2-3%.

this is if Ringgit continue he trend for next 10 years... anything that happen the other way is your bonus

it is a very good proxy to bank on the ETP in KL

 

[DCputeri]

I am referring to tower 1. Did not know tower 2 is faster than tower 1. They have just collected only tower 1 substructure of 10%.

Mine is tower 2 . I dont know abt tower 1.

 

[menghuii]

wow, that is good news. anyone here with property in m,'sia and financed by singapore bank? i thought it was not allowed..

Used to hv offshore banks in spore financing overseas properties which i did once for an australian property.

 

[Newbie11]

new breakthrough....

OCBC has become the first local bank to offer local investors chance to finance their their KL or Iskandar properties with SGD at SGD interest rates!!

Before this, only Maybank n CIMB Singapore does that but spread is rather high at 100 basis points above SIBOR, and got some restrictions.

I expect with this move, more will follow suit especially UOB, then others like HSBC & Citibank.

With the local banks in, it will be more competitive and we k expect better terms

They offered few weeks ago. Most rates similar la. But question is whether your property is supported by the banks..

 

[malpaso]

but i thot we pay the loan in S$ ? if it stengthen agst RM, we pay lesser ?

not really. it means one locks in the price in SGD. And service that locked in price at 1.xx % (current rate). So if MYR continue slide to 3RM - 1 SGD, you still have to pay the SGD sum at the point of loan disbursement.

actually all thing considered, it's the same la. I already did some quick calculations some time back. from historical data, i got an estimate of 4% weakening of the MYR to the SGD in the past 4 years. So if this trend continue, makes no diff.

scenario 1: pay off malaysia loan today using SGD (either through sgd loan, or equity loan out against existing property in singapore). but if MYR weaken 4% every year for the next decade, then lost opportunity to gradually pay lesser and lesser if servicing a MYR loan
secnario 2: keep the MYR loan. So every year, will pay less and less in SGD as MYR weakens. But unfortunately, mYR bank loan mortgage screw you out of 4%.

So both scenario, lose. :(

 

[dad4life]

Hi Gladywin,
I recently met 3 other Teega buyers, they were in the same boat.
I have written to the developer (about 3 weeks ago) with the support of my lawyer. Still nothing heard from them. This lawyer is very good and pro-active to help - very different from the others.
The previous lawyer I had was horrible, did not even reply to my email. Called her on the phone, never do what was agreed and I had to go to their office and sort things out.
I also have unpleasant experience with UEM Land, same thing - no reply or selective reply. Just have to be patience, I guess.

Hi, in same boat... Finally gotten my documents signed and delivered today.. I guess they are just overwhelm by the sales volume.. Spa documents dated back to November so no worries folks, all are in order. I also checked with my lawyer on rgpt effective date, it depends on our bank loan sign date. Now just waiting for price to continue appreciate! Last unit 3 bdrm low floor facing linear park was sold at >900psf!! cheers for all teega buyers!!

 

[potter]

not really. it means one locks in the price in SGD. And service that locked in price at 1.xx % (current rate). So if MYR continue slide to 3RM - 1 SGD, you still have to pay the SGD sum at the point of loan disbursement.

actually all thing considered, it's the same la. I already did some quick calculations some time back. from historical data, i got an estimate of 4% weakening of the MYR to the SGD in the past 4 years. So if this trend continue, makes no diff.

scenario 1: pay off malaysia loan today using SGD (either through sgd loan, or equity loan out against existing property in singapore). but if MYR weaken 4% every year for the next decade, then lost opportunity to gradually pay lesser and lesser if servicing a MYR loan
secnario 2: keep the MYR loan. So every year, will pay less and less in SGD as MYR weakens. But unfortunately, mYR bank loan mortgage screw you out of 4%.

So both scenario, lose. :(

For mly property, use mly banks loan, @ least u've additional playing card in yr hand.

 

[sotong007]

I believe it will affect or be affected by your TDSR.

they asking 2.5% + 3M sibor....... cheaper than malaysia loan, hope they will lower donw the spread soon.

 

[malpaso]

For mly property, use mly banks loan, @ least u've additional playing card in yr hand. View attachment 11558

my one no choice, must use setia panel banker - malaysia banks

 

[Flames878]

not really. it means one locks in the price in SGD. And service that locked in price at 1.xx % (current rate). So if MYR continue slide to 3RM - 1 SGD, you still have to pay the SGD sum at the point of loan disbursement.

actually all thing considered, it's the same la. I already did some quick calculations some time back. from historical data, i got an estimate of 4% weakening of the MYR to the SGD in the past 4 years. So if this trend continue, makes no diff.

scenario 1: pay off malaysia loan today using SGD (either through sgd loan, or equity loan out against existing property in singapore). but if MYR weaken 4% every year for the next decade, then lost opportunity to gradually pay lesser and lesser if servicing a MYR loan
secnario 2: keep the MYR loan. So every year, will pay less and less in SGD as MYR weakens. But unfortunately, mYR bank loan mortgage screw you out of 4%.

So both scenario, lose. :(

Good points. And in addition if you eventually rent out the property, you'll be collecting Myr which in your scenario is weakening, and you'd still have to service the mortgage in sgd.

Generally unless you manage the fx actively, it's better to take the loan in the currency of the country the property is in. The flexi nature of the malaysian mortgages also allow us to pay down or draw equity again depending on the outlook and exchange rate of the day.

 

[malpaso]

Good points. And in addition if you eventually rent out the property, you'll be collecting Myr which in your scenario is weakening, and you'd still have to service the mortgage in sgd.

Generally unless you manage the fx actively, it's better to take the loan in the currency of the country the property is in. The flexi nature of the malaysian mortgages also allow us to pay down or draw equity again depending on the outlook and exchange rate of the day.

that's right! one good thing about msia mortgage- can redraw any capital repayments. so any extra capital i pump into the myr loan account, i just treat it as save 4% on interest.

 

[cybermad]

thanks for the clarification. when u said estimate of 4% weakening of the MYR to the SGD in the past 4 years, does that mean its 1% per year only ? thks

not really. it means one locks in the price in SGD. And service that locked in price at 1.xx % (current rate). So if MYR continue slide to 3RM - 1 SGD, you still have to pay the SGD sum at the point of loan disbursement.

actually all thing considered, it's the same la. I already did some quick calculations some time back. from historical data, i got an estimate of 4% weakening of the MYR to the SGD in the past 4 years. So if this trend continue, makes no diff.

scenario 1: pay off malaysia loan today using SGD (either through sgd loan, or equity loan out against existing property in singapore). but if MYR weaken 4% every year for the next decade, then lost opportunity to gradually pay lesser and lesser if servicing a MYR loan
secnario 2: keep the MYR loan. So every year, will pay less and less in SGD as MYR weakens. But unfortunately, mYR bank loan mortgage screw you out of 4%.

So both scenario, lose. :(

 

[malpaso]

thanks for the clarification. when u said estimate of 4% weakening of the MYR to the SGD in the past 4 years, does that mean its 1% per year only ? thks

i remember 4-5 year ago is 2.20 or so to SGD. now is 2.55. So drop 35c / 220 = 15.9% over 4-5 year or 3-4% p.a roughly. you can pull out the historical chart and do further calculation. i just made a rough estimate based on my memory.

 

[Dfiris]

Country Garden Danga Bay Project

I am abit disturbed when I read that total units amount to 9,000 units. And they are selling at RM700psf freehold.
What will happen to the buyers of the Brunsfield Danga project from NS Global? Heard it is sold for average of RM1000-1100psf.

9,000 units is no joke.. during our quieter days, Singapore manage to sell less than that quantity per year.