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Hi,

I would be most glad to assist you further and please feel free to let me know if you need any assistance. Have a good day ahead. By the way, perhaps I could refer a mortgage broker to you?

Regards
Aaron Chong
 9730 8455 
aaronchong2774@yahoo.com.sg Read More

Do you plan to sell your property within the next 2-3 years? This will be the key on what you should likely do for your existing home loan. You are right that floating rates are now more attractive than fixed rates, but the situation could change soon with recent reports of interest rates hiking. No one will be able to predict how much the interest rates will move therefore it could be timely for you review your existing portfolio and make a decision. For long term plans and less hassles, I will go for the fixed rate for 2 years to give myself some allowance to sell in the event I need to within the next 2 years.

Warmest regards,
Geryl Lim
Associate Deputy Group Director
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Good afternoon,

May I know if you have plans to sell the property within the next 2 to 3 years? If so, the lock-in period that typically comes with fixed rate package needs to be factored in, as there will be a penalty fee if early redemption upon sale happens within lock in period.

It appears the probability of rate hikes this year is strong with the need to slow down macro-conditions of strong inflation numbers, as geopolitical risks and supply-chain disruptions remain yet to be fully resolved. I could be wrong but I would think floating rates will be prone to quick adjustments upwards this year, and fixed rates may provide a better peace of mind if you have no plans to sell the property in the time being.

Just my 2 cents sharing. May I have more info and requirements about your plans so as to make better recommendations? Thanks and look forward to value-add to your housing plans.

Warm Regards,

Ivan Ng Realtor
ERA Senior Marketing Director
ERA Diamond Achiever

SEAA Salesperson Achievement Award 2021 (Gold)
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