Should I refinance my property with another bank with much lower interest rates? PDF Print E-mail
Real Estate Self Help - Home Financing | Bank Loan

Should I refinance my property with another bank with much lower interest rates?

It all depends. This is because you must take into account the pre-payment penalties involved in redeeming your mortgage earlier than the maturity date. Therefore, you have to compare the monthly installments offered by each bank and include the penalties for terminating the original loan. Also, it would be not be sensible to refinance at the end of a loan period since the interest gain in the new bank would be minimal.

 
< Prev   Next >
[ Back ]
 EastLiving is the leading Singapore Real Estate and Property website for East Coast homes. Whether you are an investor, buying for your own stay, or looking for a place to rent, your property search starts and ends here. At EastLiving, we provide hundreds of Singapore East Coast properties for sale and rent with detailed information on each property, including maps and photos. We aspire to provide the most up to date and comprehensive data in the market - the most popular condominiums, apartments, HDB flats, bungalows, terraces and semi-detached houses. Contact our EastLiving Consultants for other property enquiries.
Copyright © 2008 EASTLIVING All Rights Reserved.