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Dear Sir/ Mdm,

I have a enquiry.

I intend to purchase 1M condo for property rental investment, however if I finance loan for 30years and after the 5th year I intend to sell the unit away, will I have to pay off the total interest for remaining 25years, which its the total interest estimate about $264,000?
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6 Answers

Hi Mr. Tay,

You need not pay off the interest for the remaining 25 years, and at point of sale, part of the sale price will be used to redeem the loan and pay for the full redemption fees (if any).

May I understand your plans further so to make better recommendations? Thanks and look forward to value-add to your housing plans.

Warm Regards,
Ivan Ng ERA ASAP
(ASk Anything Property)
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Evening Mr. Tay,

For mortgage loan, you only pay the interest for the amount on outstanding loan. Should you opt to sell off your unit, these figures will be cleared off by paying the principle.

FYI
Mike Lim
 96929209 
m52i@yahoo.com
ERA Read More
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Hi Mr Tay,

Nope you don't have to; what you'd need to pay is the redemption fee and other relevant charges.

Feel free to contact me and we can carry on from there.

Thanks and regards,
Teck Chuan, Ng
BBA (Finance), NUS
ERA Realty Network Pte Ltd
Mobile: 9137 4602  Read More
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Hi Mr Tay
for bank loans, usually the tied down period is only 2 or 3 years. You are not subject to any penalty if it is after lock in period. if it is within lock in period, usually its a penalty fee based on loan amount. Hope this helps.
Looking forward to assist you.
Tricia Tan 91442664  Read More
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Hi Mr Tay,

You will not need to pay back the interest for the remaining tenure of the loan. Selling after 4/5 years is a good idea as you will not be subjected to the Seller's Stamp Duties as well.

Since you are buying the unit for investment, the location will play a big part as units in good location will be able to command a better yield and better potential capital appreciation.

Do you have any preference in terms of location? Let me know so that I can recommend some good projects to you!

Regards,
Nick Tan
(M) +65 9644 4854 
B.Eng(Chemical)(Hons)(NUS)
Cert-in-REA
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(W) www.nick-tan.com

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“Nick provides a delightful customer experience from day one when I engage him as my agent to look for a flat of my choice to the completion of the deal. He is competent, resourceful and has a pleasant manner to work with. He is the Agent of my choice in dealing with properties and I would highly recommend him to others who would appreciate an agent that takes care and can give the customer a peaceful mind.”
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GAN ENG JOO ONASSIS
Hi Tay,

Just the interest and penalty fee for early termination for the bank loans.

I am contactable at 92222389  or onassis@sgrealtor.com / sgagent.com

In all Areas of Singapore. Sale/Buy/Lease/Rent, Please call and/or drop me an email me. I’m always at your Services.

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