Refinancing my house...

[terrenceterrence]

Refinancing my place ..well actually in the process of looking at all the packages.

Just wondering if any bros here can give any advice and what packages/banks are they with at this moment?

Thanks in advance

Current mortgage is with UOB and this is what they offered me when i called them up.

Fixed 1 Year with 1 Year Lock-in
· Yr 1: 1.48% (Fixed)
· Yr 2: 1.78% (MR-2.72%)
· Yr 3: 2.88% (MR-1.62%)
· Thereafter: 3.75% (MR-0.75%)

Mortgage Rate (MR) = 4.5%

Partial Repayment Penalty: 1.50% on prepaid amount within 1 year from conversion Date
Redemption Penalty: 1.50% on redeemed amount within 1 year from conversion date



Promotional 1-yr Lock-in Floating Rate Package
· 1st yr: 1.15% (MR – 3.35%)
· 2nd yr: 1.65% (MR -2.85%)
· 3rd yr: 2.65% (MR – 1.85%)
· Thereafter: 3.75% (MR – 0.75%)

Mortgage Rate MR = 4.5%

Partial Redemption Penalty
· Nil. If loan outstanding fall below $200,000 after partial prepayment within 1 year from conversion date, a penalty of 1.5% on prepaid amount will be imposed

Full Redemption Penalty
· 1.50% on amount redeemed within 1 year from conversion date




Promotional No Lock-in Floating Rate Package
· 1st yr: 1.25% (MR – 3.25%)
· 2nd yr: 1.65% (MR -2.85%)
· 3rd yr: 2.65% (MR – 1.85%)
· Thereafter: 3.75% (MR – 0.75%)

Mortgage Rate MR = 4.5%

Partial Redemption Penalty
· Nil.

Full Redemption Penalty
· Nil




Promotional 2-yr Lock-in Floating Rate Package
· 1st yr: 0.85% (MR – 3.65%)
· 2nd yr: 1.65% (MR -2.85%)
· 3rd yr: 2.65% (MR – 1.85%)
· Thereafter: 3.75% (MR – 0.75%)

Mortgage Rate MR = 4.5%

Partial Redemption Penalty
· Nil. If loan outstanding fall below $200,000 after partial prepayment within 2 year from conversion date, a penalty of 1.5% on prepaid amount will be imposed

Full Redemption Penalty
· 1.50% on amount redeemed within 2 year from conversion date




SOR 1 Year Lock-in
· Year 1: 3M SOR + 0.85%
· Year 2: 3M SOR + 1.00%
· Thereafter 3M SOR + 1.5%

3M SOR for 25 Feb 11 is 0.13%

Partial Repayment Penalty:
: 1.50% on amount prepaid within 1 Yr from date of conversion, subject to one month prior written notice
Redemption Penalty
: 1.50% on redeemed amount within 1 yr from date of conversion, subject to 3 months prior written notice


3M SOR No Lock-in
· Yr 1: 3M SOR + 0.90%
· Yr 2: 3M SOR + 0.90%
· Yr 3: 3MSOR + 1.25%
· Thereafter : 3M SOR+ 1.5%


Partial Repayment Penalty
: 1.25% on amount prepaid within the contracted period.
Nil if partial prepayment is made on the expiry of the contracted interest rate period

Redemption Penalty
: 1.25% on amount redeemed within the contracted period.
Nil if redemption is made on the expiry of the contracted interest rate period

[alex168lim]

Just refinance my house......try HSBC, the first year is about 0.7%.