If you are out of the lock-in period from your current bank and do not have any clawbacks, the cost incurred will be around $2,500 to $4,000 (depending on property type). This consists of legal conveyancing, valuation report fees and a mortgage stamp duty. Be sure to check for specific costs with your loaning bank. If you need our advice and assistance with this, please contact us.

Your credit rating and history: The lending bank may look into your mortgage payment history, instalment debt payment history and credit card/credit use history. If you have been making regular, timely payments on all debts, you will likely be deemed as a “safe” borrower.

Your collateral: As your home will be used as collateral for your loan, the value of your home is an important factor in how much a bank will be willing to lend you.

Your capacity to repay a loan: A bank will determine is you have the capacity/ability to repay your loan, based on your monthly income, household expenses and total debt. The lender may also take into account other sources of funds, such as bank accounts, bonds, stocks, mutual funds, etc.

Yes you can refinance. However, we would recommend a no lock in package so that you do not incur any penalties on the loan

No, you may not.

This is determined by the lending bank. Once you have contacted them (via EasyRates), they will tell you what documentation is needed.

This is dependent on your unique situation (and the lending bank). After you have contacted the lending bank (via EasyRates), they will inform you if an appraisal is necessary.

With cash-out refinancing, you may borrow up to 80% of your private property’s (HDB flats are not eligible) current valuation, minus your remaining loan amount and CPF owed. While your home’s current valuation is determined by the loaning bank, you can rest assured that we will help you find the best valuations and lowest interest rates in the country.

Banks will be agreeable to lending you more money if the value of your property appreciates significantly, as your home is used as collateral. This is one way of freeing up cash at a low prevailing mortgage rate (this cash can then be used for investments or other purposes).

Home equity loan tenures are usually 75 years minus your present age, minus the total number of years spent servicing your home loan. Tenure is capped at 35 years. Do note that this is subject to the lending bank

For a quick estimation of the amount you can borrow with a home equity loan, use this formula: (80% of your property’s current market value) – (Any outstanding home loan amount) - (Total amount of CPF funds used plus accrued interest) = Estimated home equity loan amount. Do check with your lending bank for a confirmed figure.

This is dependent on your chosen bank’s revision of their interest rates. Use our convenient Loan Comparison Tool to compare loan offers from banks across Singapore and select your preferred lender.

Commercial spaces in Singapore usually come with a 30, 60, 99, or 999-year lease, with most tenures being between 60 to 99 years. Freehold commercial spaces are available, but rare.

No, the down payment has to be wholly funded by cash.

The value of a piece of commercial property is based on a combination of factors, usually including:

• Property tenure
• Property type
• Rental yield
• GST registration
• Return on invested capital
• Management fees
• Mortgage interest rates

The tax is a flat 10% of the annual value of the property. If you fail to lease out the space, a vacancy refund of the property tax may be applicable.

If you are a GST-registered company, the buying of commercial spaces is subjected to a 7% GST. If you are an individual making the purchase, you will have to bear the GST yourself.

A loan-to-value ratio (LTV) of up to 80% is allowed, even with outstanding residential mortgages, with the usual maximum loan tenure standing up to 30 years. Loans for commercial properties tend to command a higher interest rate relative to residential property loans. These loans come in either a fixed rate package or a variable rate package.