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Singapore Property Refinancing

Singapore Property refinancing is one of the best ways to retain your Singapore property when you experience a cash crunch. The reason why property refinancing is so popular lies in its simplicity and effectiveness. One can easily refinance their property in order to get a loan that they can use to pay off a previous loan that was secured on the same property. However a lot of people may argue and say that refinancing is not a simple and straightforward matter. The truth is that the effectiveness of refinancing depends on the provider, if you choose a well reputed provider like us refinancing would not be a headache.

In other words, refinancing means to replace one’s current loan with a fresh one which has new terms and conditions. This means that when you choose to refinance your Singapore property, say your home, you’ll have to repay the current loan before the final tenure and get a new loan with fresh terms and conditions.

There are a lot of things that you have to bear in mind when you are thinking of refinancing. It is very important that you should make the right decisions and find out whether savings on interest will help you to balance the fees or not when you are refinancing.

Singapore Property refinancing can be done by both home owners and investors holding investment properties. A lot of home owners are always concerned about the outflow of finances when repaying their debts and hence they choose to refinance their home because they can capitalize from it. Property refinancing is a great option that can prove to be beneficial for numerous borrowers but it is important that you go through the terms associated with it properly before you decide to jump at the solution.

Here are some reasons as to why you should consider Singapore property refinancing:

1. EMI payments reduced – Refinancing your home or Singapore property loan can help you to reduce your EMI payments and hence you can divert the cash flow to other more important expenses or for repaying other debts. In order to match with the reduced EMI, your loan tenure may be increased.

2. Interest rates modified – When you refinance, you have the option of modifying your current float rate and changing it into a fixed rate loan which has lower interest rates.

3. Changing the loan tenure – You can alter the tenure of your loan to a short-term loan or a long term one depending on your preference when you re-finance.

As a borrower, you must be on a constant lookout for the drop in the interest rates because that is the time when you can consider getting a new loan. The same logic applies to refinancing too, you should choose this option right when the interest rates are dropping. A lot of people have different reasons for choosing property refinancing, they either want to change their interest rate or the cash flow requirement or the loan tenure. Whatever your reasons, we are always here to help you out with our Singapore property refinancing solutions!

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