Shamir went out of his way to ensure that we got the best available loan at the lowest possible rate. An independent mortgage advisory provides unbiased advice from your loans selection, home protection to handling the whole application process. Looking back at the trend of mortgages in 2018, we would have noticed that people are all big about fixed rates and many of you would have to ask why? With the difference between the fixed and the floating rates at more than 0.5% now, more and more people are willing to take some calculated risks to review a floating rate mortgage. However, Shamir was able to boil down all the rates and acronyms into logical information we needed to make the right decision. All rights reserved. I am very thankful for Shamir’s professional, approachable, responsive and honest assistance with the entire mortage process from beginning to end. Mortgage loans help to make that acquisition more attainable with financing options. Interest cost is one of the largest expenses associated with a property purchase. A celebrated win for many around the world, but will the world ever return from an era of Trumpism? Thank you Redbrick and thank you, Joel. Within a day of my enquiry, Mr Joel Tang contacted me and within a week or so, he managed to secure several competitive quotes which were honestly unmatched in the market. As the director of Redbrick Mortgage Advisory, Eugene believes that there should be an eco-system in which all parties of the mortgage industry can co-exists to facilitate a meaningful and profitable value chain. Since many homeowners may not have the relevant financial knowledge to predict or forecast the expected behaviours and trends for interest rates, fixed rates were therefore, safer and more popular. The US Fed had forecasted 4 increases for the US Fed rate and people w… Lin Miaoxin Edward Very professional, efficient, quick and helpful advice for last 1 month. An independent mortgage advisory provides unbiased advice from your loans selection, home protection to handling the whole application process. Know of someone who might be a suitable fit to be part of the Redbrick Team? A package conversion is not usually available until lock-in period ends and it will also cost clients admin/reprice fees of $500 – $1000. Kudos to Eugene & the team at Red Brick for making this refinance process straight forward, transparent and most importantly simple. A real estate purchase is easily, for most of us, the biggest financial commitment we undertake in our lifetime. would recommend him to anyone who is keen to take up any mortgage loans. The SIBOR rates in 2019 as compared to the FD rates are still cheaper by about 0.2-0.3%, though the difference is not as huge when compared to the 0.5% difference between the fixed and floating rates. I had Alan helping me to source, proposed(based on my requirement) and given excellent pointers when I did a re-financing package this month. Partial Capital Repayment without Penalty; the next feature is catered to clients who are ever looking to pay down on their loans. Instead, helping them promptly review their loan portfolios and be updated on changing interest rate trends and to adjust their financing arrangements accordingly and on a consistent basis will ensure much better success from a cost management perspective. Want to find the best mortgage rate in town? The lowest FD Rate is from Standard Chartered in 2019 at 2.2% linked to their 36 months FD rates. We work with the leading lenders in the industry to provide: FHA FHA Streamline VA VA IRRRL USDA Rural Development Prime Mortgages… He noted a concern among prospective home buyers about the continued interest rate hikes by the United States Federal Reserve. Brief Review of Mortgage Rates in 2018 and 2019 and a Revisit for SIBOR? Though SIBOR packages provide cheaper and more transparent options, stability may still be a real concern for many loan clients. Alvin has enjoyed extensive success with more than 11 years of experience and track record in Retail and Private Banking. Click here to find out more. His core expertise encompasses a full spectrum of wealth management services including Investment Advisory, Portfolio Management and Financing, Margin Trading, Legacy Planning, and Property Loans. For most,... Did you know that the average renovation rings up to a tune of $51,000, according to data extracted from projects... You have seen the term ‘property yield’ in property news, investor reports, newsletters, etc. Specialties: Red Brick Mortgage offers a variety of home loan and mortgage programs to meet your needs. To my disappointments, after 2 weeks of searching, I still could not found one that suit my preference. With the recent increase in interest rates, our team at Redbrick has seen a spike in the enquiries that come through to us. This is also a good in-between option for clients who are half-minded about liquidity and loan capital repayment. To hedge against unexpected fluctuations for the SIBOR rates, one-time free conversions are being offered by some banks after lock-in, while other like SCB and HSBC are offering one-time conversions anytime. Clients will be glad to know that the SIBOR packages offered by some banks do come with “risk-hedging” features to help mitigating some of the above-mentioned rate risks. What if the Feds resume interest rate hikes again in the 2nd half of 2019, or early 2020? It’s the single most important purchase so far for me and I needed the best advisors possible. Receive FREE updates on changes in property prices & mortgage. The changes in the facts and figures of different mortgage rates and packages between 2018 and 2019 so far, plus the changes in opinions of clients for their view, expectations, and preferences, is a good reminder to all, including us as professional advisors, that there is never ever a 1 size fits all solution when it comes to helping our clients manage their property loan borrowing costs over their entire property ownership journey. SIBOR Rates Plunge: What Does This Mean for Mortgage Loans. He literally did all the leg work for me and I am truly grateful for the enthusiastic yet efficient service standard he provided. For example, 50% of deposits in the offset account will earn the same interest rate as the home loan rate. The Fed holds the line on rate this year, with an initial forecast of 3 increases in 2019, but all of these are no longer on the table based on latest update as at March. The reason is simple, fixed rates were at a 1.55%, 2-years fixed whereas floating rates were at 1.6%, and looking at this minimal difference between the 2, it’s obvious why people would rather opt for a fixed rate mortgage. With Red Brick Mortgage, the hardest part of buying a new home is going to be lifting all those heavy boxes. The interest offset feature from these accounts will help clients bring down their effective loan interest rate, subjected to the following 2 factors; The amount of deposits in the interest offset account and the Offset Factor. The original sense of stability that people once had for FD rates no longer exist. Real Estate 101: What are property yields? Therefore, if SIBOR does increase or even if SIBOR does not increase but there is a better package within the same bank, clients can exercise the feature and flexibility to switch. Some SIBOR packages will allow clients to partial repay on their loan capital amount anytime during lock-in period without penalty. Are New Condominium Launches a better investment option? Nonetheless, it is still a difference worth noticing because of the movements and the general increase in the trend that the FD rates had in the entire 2018 to the start of 2019. So what if our beliefs, assumptions and expectations were inaccurate? (For latest rates, check our review of best home loans in Singapore) Signups for SIBOR packages had at the same time steadily increased and are still increasing. Redbrick Mortgage Advisory director Eugene Huang said the company has seen enquiries on potential new property purchases increased by 25 per cent in the fourth quarter of this year compared to the same period last year. Brief Review of Mortgage Rates in 2018 and 2019 and a Revisit for SIBO... https://www.redbrick.sg/wp-content/uploads/2019/03/2018-vs-20192.jpg, https://www.redbrick.sg/wp-content/uploads/2018/02/RBMortgageAd-01Colour-300x85.png.
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