Dear Mr Lim,
I would advise you to take longer tenure now for 2 reasons:
1.It is easier to cut short the loan tenure than extend it. Though some banks allows you to extend loan tenure (Maybank allows you to extend your home loan tenure up to 40 years or age 82, whichever is earlier), it is always case by case basis and only freehold or 999 yr-lease property qualifies.
2. To utilise the low interest environment and reduce cash outflows per month.
Of course you can always cut short your loan tenure where and when required.
I am also working with Phillip Securities as a financial advisor, advising my clients on home loans and refinancing.
Please feel free to contact me if you need me to help you to find the most suitable mortgage packages.
Regards,
Lucy
Mobile:
98791130
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