MoneyIQ approach to comparing loans

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Home owners looking for a mortgage in our small city of Singapore will be pampered by choices. There are at least 12 banks offering at least a total of 100 types of mortgages. Almost every package is different and it’s impossible to find a common denominator to do a comparison. Type of mortgages There are […]

Mortgage Glossary

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Accrued Interest Interest calculated and added to the interest amount payable, but which is not yet paid. Amortization Scheduled repayment of a loan through regular instalments over a period of time (e.g. weekly, fortnightly or monthly repayments over a 30 year term). The borrower pays the interest and part of the principal in each repayment. […]

6 Ways to pay off your mortgage fast

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You have bought your dream house and now its time to pay it off. Here are some tips on how to pay off your loan faster. 1. Make frequent partial repayment When you make partial repayment to your loan, you are actually paying off your principal. This will help you to save thousands of dollars […]

Home Loan Types

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There are various home loan packages in the market. Before you sign up for the package, you should use a mortgage calculator as a guide to how much your repayments will be. HDB loan HDB provides housing loans at concessionary interest rate to eligible HDB flat buyers. The HDB concessionary interest rate is pegged at 0.1% […]

New Conveyancing Regime

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On 11 April 2011, the Minister for Law, Mr K Shanmugam, had announced in Parliament new measures to regulate conveyancing transactions and the receipt, holding and distribution of conveyancing money. These measures, which will come into operation on 1 August 2011, seek to provide greater protection for the public and, at the same time, balance the commercial needs of the […]

 
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