The housing board plans to expand its Centralised Chute for Recyclables programme to almost 100 blocks in 16 Build-to-Order (BTO) projects across the country.The new separate recycling rubbish chute on each floor will now benefit new blocks in Punggol, Sengkang and Dawson estates. The programme saw encouraging results after being piloted in Choa Chu Kang and Punggol.But the plan to implement the project in more blocks will depend on maintenance requirements and technical feasibility, as well as on whether HDB comes up with a more efficient and cost-effective design, a HDB spokesman said. The programme was started in 2006 in the common area of each floor in Choa Chu Kang.The system frees residents from pre-sorting their recyclables as this will now be done at a sorting facility. The chute also makes recycling household waste more convenient as residents can drop recyclables into the chute at any time, media reports said.Jose Raymond, executive director for the Singapore Environment Council, noted that household recycling will only increase if it is made easier. “While HDB’s objective is to provide affordable housing, it is also important that it recognises that waste management is a national issue that needs coordination from all agencies,” he added.
What is term loan?
Term loan (also known as equity loan, gear up, cash out) is the process of taking cash out from a loan by pledging your property to the bank. Term loan is only available for private property.
Why does homeowners take term loan?
Homeowners take term loan for cash flow purposes.
The benefits of term loan are
- High loan amount: You can take up to 80% of the value of your property
- Low interest rate: The interest rate is same as the home loan interest
- Longer repayment period: Some banks allow you to take up to 30 years to repay
Who should consider term loan?
Homeowners who need cash for personal use and have a property that has a low outstanding loan or fully paid.
What are the costs involved when taking a term loan?
Homeowners need to pay legal, valuation and fire insurance, which is about $3000. Some banks are providing subsidies to these.
What is the formula to calculate term loan?
80% of property valuation – total outstanding loan (if any) – total CPF used and interest (if any) = Total term loan available
Take note that the formula varies from banks.
What is repricing?
Repricing is the process on negotiating a lower interest on your current home loan package with your existing bank.
Why does homeowners reprice?
Many homeowners reprice to save on their interest. Usually if their lock in period is up, they can speak to their existing bank and request for a lower interest package. However, this is subjected to the existing bank approval.
Who should consider repricing?
All homeowners should consider repricing if their current home loan interest rate is not as competitive as the current market home loan rates.
How do I know what are the available home loan packages for repricing?
You need to call the existing bank. As you are existing customer, the packages they offer may be different from the advertise home loan packages.
What are the cost involve during refinancing?
It depends. Usually there will be a admin fee of $500 to $1000.
What documents must I prepare for refinancing?
Existing bank may request for your latest pay slip to justify your income and employment.
Talk to a qualified mortgage broker for your needs now!
SINGAPORE: The government will release more land that will make way for some 3,600 private housing units.
Three residential sites and two commercial residential sites will be released this month under the Government Land Sales Programme for the first half of 2013.
Two Executive Condominium sites at Punggol Drive and Yuan Ching Road are launched for sale on Monday under the Confirmed List.
The residential site at Mount Sophia and a commercial & residential site at Yishun Central 1 will be launched for sale under the Confirmed List on June 28.
The commercial & residential site at Meyappa Chettiar Road will be made available for application on the Reserve List on the same day.
[SINGAPORE] South-east Asia may offer new and potentially lucrative investment property options for Singapore investors, but market watchers are calling for a clear mind when venturing into these new grounds.
Excluding the interest in the already-buoyant Malaysian property market, industry players The Business Times spoke to have observed that Singaporeans are looking to the region for investment properties; overseas developers are targeting Singapore buyers as well.
Reasons for this upswing of interest are fairly plain.
Tim Murphy, CEO and founder of property investment company IP Global said: “Obviously, it’s no secret the amount of wealth that exists in Singapore.”