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At The Skywoods Nature Beckons

| Property Articles | 08/10/2013


Nestled in a private residential enclave near nature, The Skywoods along Dairy Farm Road in District 23 promises a privileged way of life.

The 99-year leasehold site spans about 188,370 sq ft, or 17,500 sq m, with a plot ratio of 2.1. Six 15-storey will sprawl the area housing 420 apartments altogether. Buyers will find a range of unit layouts to choose from. Specifically, 28 units of 1+1-bedroom, 70 units of 2-bedder, 210 units of 3-bedroom, 84 units of 4 -bedroom and 28 units of penthouses, with sizes starting from 527 sq ft to 1,496 sq ft.

The residential project is a joint venture between A Corp, Hock Lian Seng Holdings, King Wan Corp, and Far East Distillers. Launched over the weekend of 7 – 8 September, the price was lowered to attract more buyers in light of the tighter borrowing rule of a 60% Total Debt Servicing Ratio (TDSR) limit. TA Corp group chief executive, Neo Tiam Boon, revealed that Skywoods was supposed to be launch at $1,300 psf, but was reduced to an average price of $1,250 psf.

Hock Lian Seng Holdings, another developer in the joint venture clinched numerous construction excellence awards; thus residents can look forward to a top-notch home with comprehensive amenities. Indeed the development will feature six lifestyle zones – The Wellness, Forest Thrill, Aqua Sky, Sensory, Verandah and The Club – with outdoor recreational facilities including an adventure fitness corner, jogging trail and tennis court for residents to savour an active lifestyle amid the greenery. Every unit will also be North-South orientated for home owners to enjoy the warmth of this sunny island but without the glare of direct sunshine.

Source: http://skywoods-condo.net/

With Dairy Farm Nature Park just across the road, and the Bukit Timah Nature Reserve and Bukit Batok Nature Park slightly farther away, nature lovers will relish the proximity to nature; non-nature lovers can also cultivate an appreciation for nature, but surely all will appreciate the fresh air that comes with greenery.

Recreational aside, residents at Skywoods will also enjoy everyday conveniences from shopping amenities, schools and transport accessibility.

Nearby malls include Bukit Panjang Plaza, The Rail Mall, The Firestation, Junction 10, Bukit Timah Shopping Centre and Bukit Timah Plaza. Densely dotted within a 1 km radius are a range of educational institutes like Bukit Panjang Primary School, St Francis Methodist School (Private), CHIJ Our Lady Queen Of Peace (Primary), Fajar Secondary, amongst others.

Finally with the Hillview MRT Station (Down Town line) due to be completed in 2015, when Skywoods attain TOP in 2016, a MRT station will be within 5 minutes reach.

With the lower price of this residential project, people with spare cash may want to consider Skywoods, speak to a mortgage broker to find the most suitable home loan.

Article is powered by icompareloan.com (Singapore 1st Cloud-based Home Loan Comparison platform for property agents and owners)

iCompareLoan Unveils Singapore’s First Cloud-Based TDSR Analysis Tool

| Loan Articles | 04/10/2013

SINGAPORE, Oct. 3, 2013 /PRNewswire/ — iCompareLoan, Singapore’s first Cloud-based Home Loan Report ™ platform, and a leading mortgage consultancy in Singapore, is officially launching Singapore’s first and only online TDSR/MSR analysis tool.


This TDSR/MSR analysis tool is available with immediate effect.

With the introduction of the Total Debt Servicing Ratio (TDSR) and Mortgage Servicing Ratio (MSR) frameworks this year, MAS-regulated financial institutions are mandated to check if borrowers meet the TDSR (private property and HDB) and MSR (HDB only) criteria before any loan can be approved.

Property Buyers are confused with how much they can borrow, as there are too many variables.

Property Owners are not sure if they can refinance their home loans or commercial loans upon TDSR kicking in. Many have opted to do nothing for less trouble and ended up trapped in servicing higher interest costs.

Property agents are not equipped with financial knowledge to help their clients and become helpless in front of their clients.

With www.iCompareLoan.com TDSR and MSR report users will be able to generate a TDSR report in 2 to 3 minutes flat.

It is so easy that property buyers can generate their own TDSR report to know an estimate of how much they can borrow.

Agents can now use this TDSR report to serve their clients instantly (without needing bankers on-site at the showrooms) and professionally without needing a Finance Degree.

“We have demonstrated the beta of this TDSR tool to property agents – their face literally lit up. Combined with the Progressive Payment Home Loan Report + TDSR Report, agents say they will be able to take the initiative and control, rather than frantically call bankers to call their clients to try to facilitate deal closure. Now Agents can run the report themselves and professionally serve their buyers to enhance customer loyalty. Agents will then know the maximum budget and assist property buyers in selecting units within a buyer’s budget.”

Paul Ho, editor of iCompareLoan, says, “We are very pleased to bring this tool to the market to help Property Buyers and Property Agents make informed and faster decisions.”

Article is powered by icompareloan.com (Singapore 1st Cloud-based Home Loan Comparison platform for property agents and owners)

Sibor Sor rates historical chart

| Property Articles | 04/10/2013

5 years Sibor historical chart

5 years SIBOR historical chart

Singapore Inter-bank Offered Rate (SIBOR)

Sibor is the rate at which banks lend to one another in SGD. When it falls, so does the mortgage rate of Sibor-linked Mortgages. Sibor is fixed based on the funds’ supply and demand. It symbolises the unsecured/flexible funds that the financial institutions and banks lend to each other.

5 years SOR historical rate

5 years SOR historical rate

Singapore Swap Offer Rate (SOR)

SOR represents the cost of borrowing SGD synthetically through borrowing USD and swap out in return for SGD for the same tenor.

Modern City Life At Onze @ Tanjong Pagar

| Property Articles | 03/10/2013


Enjoy convenient living in the heart of the Central Business District (CBD). At Onze @ Tanjong Pagar, you can live, work and play all in the same area.

This freehold mixed development by Heeton Holdings Limited was rolled out last week, and features retail spaces on its ground floor along with 56 apartments on the 5th to 18th floor. A single block, sitting on a 14,781 sq ft tract of land, will tower over the skyline at Kee Seng Street when the project attains TOP before 31 March 2018.

The ground floor will be dedicated to seven shops measuring between 205 to 581 sq ft and six restaurants of 420 to 646 sq ft. The carpark will occupy the 2nd to 4th storey.

With shops and dining accessible with a zoom of the lifts, residents will find their living experience complete with communal amenities on the rooftop. There they will enjoy a 25m pool, outdoor lounges and dining areas on top of a swanky bar.

Targeting yuppies and executive families, Onze only offers 28 one-bedder and another 28 three-bedroom units, ranging in size from 506 sq ft to 570 sq ft and 1,044 sq ft to1,141 sq ft, respectively.

Within walking distance to Tanjong Pagar MRT station and with easy access to Orchard Road, Marina Bay and Raffles Place, it continues to promise to be in the thick of things when the Waterfront City stretching from Tanjong Pagar to Pasir Panjang is fully developed.

Tempted to be part of the action at Onze? Why not speak to a mortgage consultant for a FREE discussion to plan your finances?

Article is powered by icompareloan.com (Singapore 1st Cloud-based Home Loan Comparison platform for property agents and owners)

Taking Multiple AIP Home Loan Applications: What Are The Dangers?

| Loan Articles | 03/10/2013

Gone are the days when applying for a bank loan is a breeze, thanks to the MAS rules regarding Total Debt Servicing Ratio (TDSR) and stricter lending criteria, especially that clause pertaining to “Proof of Debt”.

What do you mean “Proof of Debt”?

With TDSR set at 60%, which includes housing loan servicing as well as that of other debt, banks are required to enforce these rules set out by MAS.

The burden of proof of debt is on the banks to make sure that they impose these “Proof of Debt” on potential borrowers. As a result, if your credit report shows that you have several credit cards and if one of the cards shows that payment is not made in full, banks will then require you to print out your credit card statements to ascertain the outstanding loan amount. The banks will then use this amount to impute the minimum sum required by the credit card companies to work out the required monthly servicing amount. This monthly servicing amount affects your TDSR score, and, hence, your total borrowing amount.

How to make sure I have a property loan at hand?

If you are buying a new property, you have to make sure that you have a home loan or commercial loan in hand prior to purchase, just before you make your property buying decisions. This is all the more important especially under the TDSR criteria as many people may not be aware of their financial commitments. These property buyers could easily pay their 1% Option to Purchase (OTP) and then fail to obtain a property loan.

Should you apply for an Approval-in-Principle?

Home loan or commercial loan approval-in-principle (AIP) or some call it In-Principle-Approvals (IPA) are a necessary safe guard prior to committing to a property purchase. They are by no means 100% guaranteed, but they do provide a good indication of borrowing ability.

Why do bad mortgage brokers encourage you to apply for multiple loan applications?

Some mortgage brokers suggest that you should apply for one AIP from one bank first. And sometimes even to many banks at the same time. Generally up to three is considered okay. Anything beyond that is bad in our opinion.

These brokers then suggest that once you have the AIP in hand, you can then try to apply for another few bank loans when you make the property buying decision.

This, on the surface, sounds like a fair statement to protect the consumers. But is it really so?

BAD Mortgage brokers use this technique to lock you into the home loan or commercial loan to protect their interests. We will tell you why this is bad for you.

What will abuse of the Approval-in-Principle process lead to?

Let’s put it bluntly, AIP takes away valuable resources from the banks as it involves huge amount of paperwork. By applying for multiple AIPs, this piles on extra workload on bankers, banks, and, especially more so, credit officers in the banks. Credit officers hold a thankless job, which is both stressful and time-pressing. They are also on the receiving-end of abuses and curses from customers (even though they do not meet them, and, in most cases, are not even allowed to meet with front-end bankers).

By abusing the system created to give you some form of safety by wantonly applying to as many banks as possible for AIP, and subsequently not take up loans from the banks is not simply a matter of fairness. This abuse has led banks to reduce or scrap AIP outright. Some banks have even imposed or considered imposing a fee for AIP.

Credit officers are overworked and hold a thankless job and the bank cannot easily find sufficient credit officers to do all the extra workload.

In the end, such irresponsible behaviour will lead to higher cost for consumers.

What do multiple and excessive AIP and home loan applications lead to?

When you make multiple and excessive AIP or home loan applications, each of these applications invoke a “Credit Enquiry”.

According to credit bureau, “Too Many Enquiries” leads to “Marginally Increases Risk” and degrade your credit score.


In Summary

A bad mortgage broker invokes your greediness to take advantage of the system to protect their own commission. They abuse the goodwill of banks, leading to increased costs for consumers.

And worst still, by blatantly making “Too Many Enquiries”, bad mortgage brokers make your credit score worse, demonstrating complete ignorance of credit risks and disregard for your well-being.

You should only apply for an AIP to the top one or two banks that you intend to take up a home loan with after a TDSR analysis.

Article is powered by icompareloan.com (Singapore 1st Cloud-based Home Loan Comparison platform for property agents and owners)

You can now sort your property results at MrsProperty.com

| MrsProperty | 20/09/2013

Step 1 - Click on the category you are looking for.

Step 1 – Click on the category you are looking for.

Step 2 -

Step 2 – Select “Sort by” or “Refine Results” to get more relevant property results. 

“Sort By” allows you to sort results by:

  • “Newest Property Ad 1st”
  • “Oldest Property Ad 1st”
  • “Lowest Property Ad Price 1st”
  • “Highest Property Ad Price 1st”

“Refine Results” allows you to sort results by:

  • “District” for private and commercial property.
  • “Location” for HDB
  • “Number of bedrooms” for private property and HDB
  • “Condition” of property
  • “Commercial Type”
  • “Leasehold”

Post on the go as we are Mobile Friendly

| MrsProperty | 17/09/2013

MrsProperty.com is now Mobile Friendly.

Dear agents and property owners, we hear you and take your feedback seriously.
And yes, our engineering team has done it again.

MrsProperty.com is now Mobile Friendly and you can post on the go.

We hope this improvement helps to eliminate the trouble of you zooming in and out of the website to post an ad. We also aim to create a better user experience for our users. In return, they will stay longer and hopefully drop a call/message to the property owner.

MrsProperty.com – Post your property listings for free

| MrsProperty | 27/08/2013


MrsProperty.com is an online property portal that allows property owners/agents to post their listings for free. Its free and always will be.

Please help us share MrsProperty.com to your friends and family.

Click below to share us now!

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