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Proper financing may decide between success and failure of your business

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Author: Ravi Philemon

Whether you are just starting out or looking to expand, financing is an essential part of any small business, and proper financing can mean the difference between success and failure. 

By: Hitesh Khan/

According to a recent research, start-ups and growing businesses receive most of their funding from informal sources–this includes money that comes from family, friends, and other private parties.

To have proper financing you must know how to successfully borrow money from people you know. And it is important that you overcome:

  • Financial Risk: You must demonstrate to people who might be potential lenders that your business has a reasonable chance of success, and that their investment in it is a smart one. Lenders will want to see that you have the necessary skills, have thought about the risks involved and have a plan in place to minimize these risks while growing your business.
  • Emotional Risk: You must convince people who might be potential lenders that investing in your business will not jeopardize their relationship with you. The information, worksheets, and examples contained in this document will help you to overcome this barrier, and bring you closer to getting the money you need.
proper financing

Image credit: YouTube

When it comes to borrowing money from people you know, you should understand that small business owners will be at different points in the proper financing process – some of them may be uncertain as to where or how to begin, while others may already have specific lenders in mind.

While family and friends can be an excellent potential source of proper financing for your business, as a borrower you may still have some concerns about mixing money with people you know.

Business loans are useful but consider alternatives before taking one

You are not alone in having such concerns. these are some of the top concerns of small business borrowers when they consider proper financing options:

  • Borrower concern: “I am worried lenders will meddle in how I run my business.”
    How to minimize this concern: By formalizing the loan through proper documentation you will make it clear that this is indeed a loan, and not a favour, which means your lender’s role does not extend beyond just that – a lender.
  • Borrower concern: “I’m concerned that my lender will scrutinise everything I do financially that isn’t related to the business. For example, if I take a vacation will they wonder if I’m doing it with their money?”
    How to minimize this concern: By setting up a mutally agreed upon repayment plan, your lender will know that you are serious about paying back the loan. Because they will be receiving steady payments, any concerns they might have about how you are spending money should be alleviated.
  • Borrower concern: “Won’t my lender worry about my business failing?”
    How to minimize this concern: Yes, that is a risk they’re made aware of. However, if you secure your loan with collateral, your lender’s risk is significantly reduced. In the event that you default on the loan, your lender will be entitled to receive something (e.g., a vehicle, office equipment, etc.) in lieu of being repaid.
  • Borrower concern: “Even after I pay my lender back, are they going to feel as though they did me a favor, and that I still owe them something?”
    How to minimize this concern: By talking to your lender up front and formalising the loan process, you make it clear that this is a business opportunity, not a favor. By making sure they know that all you owe them is the amount of money borrowed plus interest, you will prevent them from holding the loan over your head in the future.
  • Borrower concern: “What if I have trouble paying back the loan?
    How to minimize this concern: Generally, when you borrow from friends and family, you have more flexibility (compared with a commercial lender) in how you pay back the loan. If you are having difficulty making payments, be upfront with your lender about your situation, then suggest an alternative repayment plan that works for both of you. In most cases, your lender will appreciate your proactive response and accommodate your request.

Business expansion loans could be the lifeline to increase revenues

Before you approach someone you know for money, you should first understand the typical loan approval thought process of a traditional lender, such as a bank. This is important for two reasons:

  • The person you approach for money may follow a similar thought process, and you will need to provide the necessary information just like you would to a traditional lender.
  • Even if the person you approach doesn’t follow this thought process, by providing some or all of this information you are demonstrating your business knowledge and professionalism, both of which can increase your chances of obtaining the money you need.

How to Secure a Business Expansion Loan Quickly

If you are searching for a business expansion loan, the loan consultants at iCompareLoan can set you up on a path that can get you a it in a quick and seamless manner. Our loan consultants have close links with the best lenders in town and can help you compare various loans and settle for a package that best suits your needs. Find out money saving tips here.

Our Affordability Tools help you make better property buying decisions. iCompareLoan Calculators help you ascertain the fair value of a property and find properties below market value in Singapore.

If you are looking for a new home loan or to refinance, our Mortgage brokers can help you get everything right from calculating mortgage repayment, comparing interest rates all through to securing the best home loans in Singapore. And the good thing is that all our services are free of charge. So it’s all worth it to secure a loan through us for your business expansion needs.

Contact us for advice on a new home loan.

Contact us for home loan or refinancing advice.

The post Proper financing may decide between success and failure of your business appeared first on iCompareLoan Resources.

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Planning permission is required if you are thinking of change of business use for premises

Click on Planning permission is required if you are thinking of change of business use for premises
for the source.
Author: Ravi Philemon

If you have bought a commercial property and are contemplating on the type of business to operate out of it, know that you may have to apply for planning permission for a change of use from the Urban Redevelopment Authority (URA).

Planning permission is required, depending on your business use and the the type of property you have in mind. For example, you want to set up a restaurant in a particular commercial building.

Planning permission for Restaurants

Restaurants are premises primarily used for sale of food for consumption at the premises without performance of live music, or live entertainment. The sale of liquor and alcoholic drinks, if any, is for consumption on the premises and incidental to the consumption of food.

  • It includes a coffee shop, eating house, snack bar, cafeteria, foodcourt, fast-food restaurant.
  • It does not include a canteen.
  • A restaurant cannot be used as a bar.

Typically a restaurant premises would be required to have sufficient parking space and proper sound proofing measures to reduce noise disturbances.

Planning permission for Bars and Pubs

Bars and Pubs are premises which are primarily used for the sale of alcoholic drinks for consumption on the premises without dancing, singing or performance of live music or live entertainment. The premises should have proper sound proofing measures to reduce noise disturbances.

Planning permission for Nightclubs

Nightclubs are premises primarily used for the sale of alcoholic drinks (and food, if any) for consumption on the premises, with dancing, singing or performances involving recorded music, live music or live entertainment. This includes karaoke lounges and discotheques.

In addition to URA’s planning permission, business operators are required to obtain a Public Entertainment (PE) Licence from the Police Licensing and Regulatory Department (PLRD) before committing to a tenancy agreement or starting the renovation works. The nightclub premises should have proper sound proofing measures to reduce noise disturbances.

Planning permission for shop, office and services

Shops are premises used for any trade or business where its primary purpose is the sale of goods or foodstuff by retail or provision of services. It includes a furniture shop, department store, pawnshop, beauty salon, travel agency, confectionery and take-away foodshop.

Offices are premises used as a place of business and for conducting administrative work. It includes a bank, finance office, real estate company, employment agency, advertising agency and marketing office.

Massage establishments are premises used for massage or spa services licenced by the Police. In addition to URA’s planning permission, business operators are required to obtain a Massage Establishment (ME) Licence from the Police Licensing and Regulatory Department (PLRD) before committing to a tenancy agreement or starting the renovation works.

Medical Clinics are premises used by a medical practitioner, a dentist or any other person for diagnosis or treatment of persons suffering from any disease, injury or disability.

Pet shops are premises used for the sale of live animals normally kept as domestic pets. It includes a veterinary clinic, pet grooming service and sale of pet related accessories. It does not include pet hotel and pet boarding use.

Pet Boarding/Hotel refers to premises which are primarily used for the boarding for pets. These are places where pet-owners pay to have their pets housed and cared for over a certain period of time.

Planning Permission for Education

Commercial schools are premises used for the purpose of teaching, training or imparting of knowledge or skill. It includes tuition centre, language school, computer school, baking and cooking school, art school, music and dance school. It does not include primary school, secondary school, junior college, vocational and technical institution, polytechnic and university.

Childcare centres are any premises at which 5 or more children who are under the age of 7 years are habitually received for the purposes of care and supervision during part of the day or for longer periods. It includes kindergarten, student care centre and infant care centre.

Planning Permission for Sports & Recreation

Fitness centres/gymnasiums are premises used for physical exercise and fitness activities. It includes sports club, sports complex and community sports and fitness buildings.

Amusement Centres are premises with game machines (e.g. jackpot machines, pin-bill machines, darts machines) for entertainment. They include arcade centres, computer gaming centres, billiard centre, bowling alley and darts club. In addition to URA’s planning permission, business operators are required to obtain a Public Entertainment (PE) Licence from the Police Licensing and Regulatory Department (PLRD) before committing to a tenancy agreement or starting the renovation works.

Planning Permission for Accommodation

Residential use refers to premises used for long-term residential dwelling purposes. Private residential properties must be rented for at least three consecutive months. They may not be used for short-term rentals on a daily or weekly basis. Maximum number of unrelated occupants in a property is six. Any internal partitioning works must not compromise the nature of the property as a single self-sufficient residential unit.

Backpackers’ Hostels are open concept dormitories with a minimum of six beds per room, used to provide boarding and lodging for commercial purposes.

Hotels are premises used to provide boarding and lodging for commercial purposes.

Students’ hostels are premises used to provide boarding and lodging for students who are studying in local primary schools, secondary schools, junior colleges and tertiary institutions.

Serviced Apartments refers to residential premises comprising non-strata subdivided, self-contained apartments with provision for kitchenettes/kitchens. They are rented out for lodging for a minimum of seven days and have support services such as concierge, housekeeping and/or laundry provided. It does not include hotels, boarding houses, workers’ dormitories and students’ hostels.

Workers’ dormitory are premises used to house foreign workers who are engaged to perform industrial or production activities.

Planning Permission for Industrial-Related Uses

Light Industrial Use refers to premises where the processes carried out or the machinery installed can be done so in any residential area without polluting the area with noise, vibration, odour, fumes, and smoke. It includes manufacturing of textile goods, packing of dried foodstuffs, manufacturing of containers, printing and publishing industries.

General Industrial Use refers to premises where the processes carried out or the machinery installed cannot be done so in any residential area, as it would pollute the area with noise, vibration, odour fumes and smoke. It includes vehicle/motorcycle repair and servicing, installation of tyres and batteries, food manufacturing, manufacturing of furniture and fixtures.

Industrial Training refers to premises used for practical training with the use of heavy machinery and equipment, or pure theory/classroom-based training on workplace health and safety for construction, shipyard and oil industries only.

Warehouse refers to premises primarily for storage of goods and where no business is transacted other than those which are incidental to storage.

Industrial Canteen refers to premises located within a factory building that primarily serve food to workers in the industrial estate.

Showroom refers to premises used to display or showcase products that are not typically transacted and exchanged over the counter (e.g. furniture), or products that are predominantly delivered and installed off-site (e.g. floor tiles).

E-business refers to premises used for businesses that provide telecommunications infrastructure and/or develop software. It includes telecommunications, data farm/centre, software development, internet service provider and call centre.

Core Media Activities refers to premises used for production services that require technical facilities such as studios and high-tech production software/hardware. It includes pre-production (scripting, editorial editing), studio production, audio recording, programming and post-production and distribution (video editing, audio engineering, film printing, sorting and packaging for print media).

Renovating your landed-titled property – what you need to know

Planning Permission for Community-Related Uses

Association/ Community Club/ Family Service Centre, they all refer to premises used for community-based activities. It does not include welfare home, childcare centre, funeral parlour, a home for the aged or a home for the disabled.

Planning Permission for Religious Use

Religious Activities refers to premises used for public worship, religious teaching, studies, seminars and include seminaries.

Planning Permission for Limited & Non-Exclusive Religious Use

Religious use on a limited basis without any exclusive lease or ownership to religious organisations. Religious activities should be conducted in sites that are specially designated for worship. These sites are zoned “Place of Worship” in the Master Plan.

URA has recently reduced the processing fees for change of use applications. Instead of paying $800 for a change of use application and $400 for subsequent renewals, applicants now only have to pay $300 and $150 respectively. The fees to lodge a change of use application under the Lodgment Scheme have also been reduced from $300 to $100.
Details of the fees revision are as follows:

Planning Permission

How to Secure a Commercial Loan Quickly

Are you planning to capitalise on the uptrend of Singapore’s commercial sector but unsure of funding for investment? Don’t worry because iCompareLoan mortgage brokers can set you up on a path that can get you a commercial loan in a quick and seamless manner.

Alternatively you can read more about the Best Commercial Loans in Singapore before deciding on your next purchase.  Our brokers have close links with the best lenders in town and can help you compare Singapore’s best commercial loans and settle for a loan package that best suits your commercial purchase needs.

Whether you are looking for a new commercial loan or for a refinancing package for your commercial properties, our brokers can help you get everything right from calculating mortgage repayment, comparing interest rates, all through to securing the best commercial loans which fits your profile. And the good thing is that all our services are free of charge. So it is all worth it to secure the best commercial loans through us.

You may contact us today for advice on a new commercial loan  or refinancing advice, or for Personal Finance advice.

You may also speak to our Panel of Property agents.

The post Planning permission is required if you are thinking of change of business use for premises appeared first on iCompareLoan Resources.

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Retirement Planning: What Are the First Steps?

Click on Retirement Planning: What Are the First Steps?
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Author: Marubozu

When you’re new to investing and retirement planning, it’s difficult to know what the first steps should be.

Royalty Free Photo

In this article, we delve into different aspects of determining how to proceed towards a healthy and prosperous retirement.

When Do You Want to Retire?

Everyone is different when it comes to retirement.

Some people wish to retire as soon as possible. They think that they have sufficient money and enough hobbies to keep them busy. Many are type-A personalities, which is how they got there in the first place. This makes it especially difficult to go from hyperactivity to minimal activity.

The rest of us are looking to retire at a traditional retirement age (65) or something close to it. The age is important because when needing to make your investments last longer, less should be withdrawn each year to avoid running out of money.

What Determines How Early You Can Retire?

It’s often thought that a higher income means you can retire sooner, and a lower income means it’ll happen much later. That’s only partly true. There are plenty of six-figure earners who still live paycheck to paycheck and rely on credit cards to survive a job loss.

It’s useful to appreciate that the average American has less than $1,000 in their checking account and most carry some form of consumer debt too. Having money to retire without a complete reliance on social security is unusual.

What determines how early you can retire is the savings rate as compared to what you spend (and also what you’ll be spending in retirement too).

For instance, when earning $59,000 (close to the average household income in the U.S.), how much you spend makes a huge difference. If you’re living in a low cost of living area, then it might be possible to get by on $2,000 monthly if you’re frugal. That leaves around 50% remaining to save (depending on your tax burden). Every year, you’ll be saving a year’s worth of future expenses. This puts you in a good position for the future.

Do You Want to Semi-Retire Instead?

One way to make retirement come sooner is to semi-retire.

Some people find it difficult to hold onto their job when they reach their 40s and 50s. Moving to a different, slower paced profession or switching to a role that just covers your expenses allows your retirement savings to grow on their own, untouched even when you are not adding to them.

This is known as BaristaFIRE, named after Starbucks workers. However, it’s possible to do any kind of work to cover your expenses while your nest egg grows. It’s not uncommon to find semi-retired people switching to freelancing or business consulting to keep busy.

How Much Is Needed to Retire?

Based on the Trinity Study and subsequent improvements, it was found that a 60/40 U.S. stocks and bonds portfolio mix lasted 30 years with annual inflation adjustments over every period studied during the past century.

Usually, 25 times the annual spending is required to retire but it depends on your expected investment returns, investment fees, tax rate, and how long you’ll need the portfolio to last.

To determine how much you’ll need, ask a qualified financial advisor for advice. Minneapolis financial planning is available from Berger Financial Group to figure out a precise retirement plan that will suit your needs.

Don’t be worried about taking the first steps to financial freedom. The sooner you get started, the easier it’ll be.

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Singapore REIT Price / NAV Range Chart June-2019

Click on Singapore REIT Price / NAV Range Chart June-2019
for the source.
Author: Marubozu

Original post from http://mystocksinvesting.com

Singapore REIT Price / NAV Range Chart base on June 3, 2019 Singapore REITs Table.

See last Singapore REITs Price/NAV here to see the changes.

Disclaimer: This chart is NOT a recommendation to buy or sell. Do NOT use it if you don’t understand how to interpret it.

 

Check below on other events:

http://mystocksinvesting.com/course/singapore-reits-investing/REITs Investing Course 

http://mystocksinvesting.com/course/private-portfolio-review/REITs Portfolio Advisory 

http://mystocksinvesting.com/events/

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Home equity loans can help get you out of a tight situation

Click on Home equity loans can help get you out of a tight situation
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Author: Ravi Philemon

Home equity loans are also called cash-out refinancing, or a second mortgage.

By: Hitesh Khan/

A home equity lets you borrow money, while using your house as collateral. Home equity loan is another option available to homeowners who may have a tight cash situation but have have a valuable house at their disposal, which they may sell and downgrade. But a home equity loan lets you get money out of your house, without having to lose it.

home equity loansThere are plenty of advantages: when your house is the collateral, the bank feels a lot more secure; they know you can’t exactly pack up your house and run away with it. Because there’s something they can foreclose on, banks consider home equity loans to be low-risk, secured loans. That means they charge a super-low interest rate, seldom above 1.3 per cent per annum. For reference, that’s less than a third of your CPF Ordinary Account rate (up to 3.5 per cent per annum), and about 1/6th of a personal loan rate (about six per cent per annum).

That super-low interest rate means home equity loans are quite cheap, and can provide a much bigger loan than you’d get through, say, a personal installment loan. Most other, unsecured loans can only lend you up to four times your monthly salary.

On top of this, the government in 2017, made regulatory changes to home equity loan restrictions. If your house is already paid up, you can borrow up to half its value, without having to meet Total Debt Servicing Ratio (TDSR) restrictions.

Sadly though, home equity loans can only be gotten for private a private property.

HDB rules say, “HDB flats can only be mortgaged to banks or financial institutions to finance the purchase of the flat itself. You are not allowed to use your HDB flat, which has been fully paid for, as collateral to banks to raise credit facilities for private reasons.“

If you are looking for a home equity loan, or are you trying to borrow money to buy a home, there are good deals and bad deals. If you don’t want to get stuck with a bad one, be careful:

  • Beware of great deals that come to you by way of the phone, mail, WhatsApp or internet. More often than not, these too-good-to-be-true offers are scams.
  • Beware of renovation contractors who offer to finance work on your home.
  • If you need a home equity loan, check with a mortgage broker.
  • Read all paperwork carefully before you sign anything! A sales person may try to rush you into signing. Don’t fall for this.
  • Take your time and get help. Insist on getting copies of all of the papers ahead of time. Take plenty of time to review them. Show them to a lawyer if you can.

This is how home equity loans works:

Suppose you have purchased a property in 2010 for $650,000.
Loan was 80% = $520,000 amortized over 30 years.
In 2018, a new valuation was done and the property is worth $1 million.
The current loan amount is $440,000.
If this property loan is the only one you have in Singapore, then you may qualify for 80% lending on valuation, which is $800,000.
Equity home loan amount = (80% * valuation) less current loan amount less CPF usage including accrued interest.
Assuming you have used $160,000 CPF with accrued interest, this is the home equity loan amount you would get:
$800,000 – $440,000 – $150,000 = $200,000
Together with the outstanding loan, the total debt on the property now would be $640,000.

People who should consider home equity loans are:

  • Owners of second or subsequent investment properties;
  • People looking to consolidate their debts;
  • Parents who want to help out their children.

Home equity loans are useful for people who are trying to consolidate their loans. The are also helpful for parents who are thinking of helping out their children – either to buy a property of their own, or to get out of a tight situation. If you have multiple properties, iCompareLoan might be able to work out a solution for you to use Home Equity Loans to invest.

How to Secure the Best Home Loans Quickly

iCompareLoan is the best home loans portal for home-seekers, buyers, investors and real estate agents alike in Singapore. On iCompareLoan, you will be able to find all the latest news and views, informational guides, bank lending rates and property buying trends, and research data and analysis.

Whether you are looking to buy, sell or refinance apartments, condominiums, executive condos, HDB flats, landed houses or commercial properties, we bring you Singapore’s most comprehensive and up-to-date property news and best home loans trends to facilitate your property buying decisions.

Our Affordability Tools help you make better property buying decisions. iCompareLoan Calculators help you ascertain the fair value of a property and find properties below market value in Singapore.

Our trademarked Home Loan Report is Singapore’s first one-of-a-kind analysis platform that provides latest updates of detailed loan packages and helps property agents, financial advisors and mortgage brokers analyse best home loan packages for their clients, so that they may give unbiased home loan/commercial loan analysis for their property buyers and home owners. Our distinguished Panel of Property Agents who are users of our Home Loan report can give the best all-rounded advise to real estate seekers.

All the services of our mortgage consultants are ABSOLUTELY FREE, which means it’s all worth it to secure a loan through us.

Whether it is best home loans, best commercial loans or refinancing of existing loans or SME loans, CONTACT US TODAY!

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Why do property agents partner mortgage brokers?

Click on Why do property agents partner mortgage brokers?
for the source.
Author: Ravi Philemon

Property agents partner mortgage brokers often, but what are the benefits, or downsides of going with the partner broker?

By: Phoenix Lee/

property agents partner mortgage brokersIt is typical for property agents to partner mortgage brokers because they have previously had a good experience working together. Throughout the home buying process communication is key. A mortgage broker and real estate agent who have a good communication system and have worked well together in the past can avoid problems that arise when there’s a breakdown in communication between the two entities.

It’s not a bad idea to work with the mortgage broker your real estate agent partners with. However, you should understand that you have every right to choose any mortgage broker that you would like to work with. Ideally, you should speak to several mortgage brokers and make your own informed decision. That being said, there’s a reason the real estate agent trusts and prefers to work with their mortgage broker partner, and their solid working relationship can benefit the home buyer.

Property agents partner mortgage brokers to ensure that the deal gets done within the escrow timelines.

Using mortgage brokers has many obvious benefits

A good Mortgage Broker will ensure that the deal is ready to fund at the closing table on the predetermined closing date. There is no downside to using a (competent) mortgage broker recommended property agents. And it is always a good idea to have a backup plans just in case.

First and foremost, you are not obligated to use your property agent’s ‘preferred’ lending partner You have to know that is is illegal for a Lender to offer a kickback to a property agent for suggesting they use a particular mortgage service.

Property agents often trust their preferred lender and has probably worked well with them and trusts that particular lender to manage the mortgage process and get your loan closed on time. Your property agent is often worried about closing on time. And working with a lender they can rely upon is important for this. If they work with someone they are not familiar with, they may not be able to assist you efficiently when the process becomes difficult or bottlenecks occur.

Additionally, if the mortgage broker your property agent recommend is bad and can’t get loans closed, then the mortgage broker and the property agent wouldn’t be making any money from commissions as they are only paid when a loan funds and the transaction closes.

Intuitively, you would think that a property agent would only recommend a good mortgage broker based on that reason alone, wouldn’t you? As with most life decisions, trust your gut instinct. and if you think you can’t work with the ‘preferred’ mortgage broker then go with the lender of your choosing at the end of the day would be my suggestion.

Sometimes property agents partner mortgage brokers because there is an reciprocal agreement.

Sometimes but not always there is a reciprocal agreement to recommend each other. Then too the property agent may have a good working relationship with a particular mortgage lender and know that can rely on them to be responsive and on time with funding for closings.

Mortgage Broker Singapore – Should I use one?

Ask if there is any referral fee collected from the property agent if you use the recommended mortgage broker. This should be disclosed. Even if property agents provide a list of possibilities, there is no obligation to use that particular mortgage broker or lender.

After a frank discussion with your property agent about the reasons for the recommendation and an answer about any financial incentive for the agent, you might want to shop around to get the best deal for you. Your Agent should be cooperative no matter which mortgage broker you choose, but be a little cautious with some of the newer companies because they are sometimes not as reliable about on-time funding for closings.

If property agents partner mortgage brokers, what’s in it for me?

  • Agents usually pick a partner they can trust to meet deadlines and take care of their clients,
  • Agents usually pick a partner that continuously offers competitive rates,
  • The Agent and Mortgage broker are familiar with each other and their processes, and
  • If something “bad” happens, you can always turn to your real estate agent if the broker isn’t meeting your needs.

If property agents partner mortgage brokers, what’s the downside?

  • You have to use their preferred broker/lender,
  • You may miss out on better rates offered by competing lenders,
  • You could get stuck dealing with “two bad apples”, and
  • If you’re using an agent’s broker, you may miss out on incentives offered by developers because some developer’s incentives are contingent on using their lender.

How to Secure a Home Loan Quickly

Are you planning to buy a private residential property, but unsure if you can afford it? Do not worry because iCompareLoan mortgage broker can set you up on a path that can get you a home loan in a quick and seamless manner.

Our brokers have close links with the best lenders in town and can help you compare Singapore home loans and settle for a package that best suits your home purchase needs. Find out money saving tips here.

Whether you are looking for a new home loan or to refinance, the Mortgage broker can help you get everything right from calculating mortgage repayment, comparing interest rates all through to securing the best home loans in Singapore. And the good thing is that all our services are free of charge. So it’s all worth it to secure a loan through us.

For advice on a new home loan.

For refinancing advice.

The post Why do property agents partner mortgage brokers? appeared first on iCompareLoan Resources.

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Full floor plate at Springleaf Tower for sale at $27.2 million

Click on Full floor plate at Springleaf Tower for sale at $27.2 million
for the source.
Author: Ravi Philemon

List Sotheby’s International Realty (List SIR) announced that a full floor plate at Springleaf Tower is up for sale at $27.2 million. The 9,870 sq ft prime office space is on a high floor at the 21st floor with an obstructed sea view.

full floor plate

Image credit: List SIR – The full floor plate at the skyscraper may be bought in personal name

The full floor plate at the skyscraper is located at the central business district

Springleaf Tower is a 37-storey, 165 m (541 ft) office and residential skyscraper located in the central business district of Singapore located on 3 Anson Road and near Prince Edward Road, The development is in the zone of Shenton Way and Tanjong Pagar near other skyscrapers, such as 8 Shenton Way, MAS Building, International Plaza, and Anson Centre, all of which are roughly 100 metres away. It is a Grade A office building.

Springleaf Tower was completed in 2002. Firms involved in the development include CapitaLand Commercial Limited, CapitaLand Limited, Benson Global, and DTZ Debenham Tie Leung (South East Asia) Private Limited.

However, the Springleaf Tower’s construction was not smooth. In the late 1990s, the developer of the building, a subsidiary of the now defunct Ban Hin Leong Group, ran into financial problems. It was unable to pay its contractors for the completion of the 37-storey building. This led to the UOB Case.

The Ban Hin Leong Group suggested that one of the contractors, Yongnam Holdings, purchase a floor, and that it set off the value of its work against the sale price of the floor. It was agreed to by United Overseas Bank (UOB), who was the mortgagee.

However, after Yongnam completed the work, UOB refused to release its mortgage. UOB said that it did not encourage or endorse the barter arrangement and later foreclosed on the building. Yongnam then sued UOB to protect its interest. UOB subsequently lost the case, and was asked to cede ownership of the floor to Yongnam.

Twelve floors in Springleaf Tower in which the full floor plate for sale are located were sold in January 2007 for S$134 million, and were bought by Macquarie Global Property Advisors.

Just a few months later, in October 2007, the same twelve floors were sold again, at $225 million. This equates an increase of almost 70 percent. It was bought by SEB Asset Management, part of German pension fund manager SEB.

Paul Ho, the chief mortgage consultant at iCompareLoan said: “Properties such as the full floor plate for sale at Springleaf Tower may be bought under personal name, but total debt servicing Total Debt Servicing Ratio (TDSR) will apply on the individual’s income on such purchases. To buy a commercial or industrial property under company name, total debt servicing ratio TDSR also applies on the individual director’s income if the company is an investment holding company or an operating company that is loss-making or does not have sufficient cash flow to servicing the repayment.”

He added: “To buy a commercial or industrial property under company name where the company is well established with an existing operating business with strong financials, TDSR may be waived on the individual. However director is usually required to become personal guarantors of the loan the company undertakes. Hence this may affect the director’s other purchases, such as for buying a residential property, due to the loading from the TDSR for guaranteeing a loan.”

The biggest gainers following the new property cooling measures is likely be owners of strata portfolio of offices and shophouses approved for commercial use. The property cooling measures affected almost all categories of buyers and is predicted to achieve its intended objectives of cooling demand and moderating price growth.

One report said investors looking for alternatives to park their money in the wake of property cooling measures, would divert their attention to the offices and shophouses markets as they are not subjected to this round of purchase or sales restrictions/encumbrances.

Mr Ho said that despite the property curbs introduced by the Government last year, Singapore is still an attractive residential market for investors.

Although the property market exuberance has been curbed to some extent with the property cooling measures introduced last year, Singapore as a property market investment destination still remains among the top – shoulder to shoulder – with other cities in the world like London, New York, Shanghai and Sydney.

“We have to be mindful that there is a lot of excess capital fluidity here and at 1.9 – 2 percent, Singapore has one of the lowest interest rates for home loans in the region,” he added.

How to Secure a Commercial Loan Quickly

Are you planning to capitalise on the uptrend of Singapore’s commercial sector but unsure of funding for investment? Don’t worry because iCompareLoan mortgage brokers can set you up on a path that can get you a commercial loan in a quick and seamless manner.

Alternatively you can read more about the Best Commercial Loans in Singapore before deciding on your next purchase.  Our brokers have close links with the best lenders in town and can help you compare Singapore’s best commercial loans and settle for a loan package that best suits your commercial purchase needs.

Whether you are looking for a new commercial loan or for a refinancing package for your commercial properties, our brokers can help you get everything right from calculating mortgage repayment, comparing interest rates, all through to securing the best commercial loans which fits your profile. And the good thing is that all our services are free of charge. So it is all worth it to secure the best commercial loans through us.

You may contact us today for advice on a new commercial loan  or refinancing advice, or for Personal Finance advice.

You may also speak to our Panel of Property agents.

The post Full floor plate at Springleaf Tower for sale at $27.2 million appeared first on iCompareLoan Resources.

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Rivière draws praise from Frasers’ tenants

Click on Rivière draws praise from Frasers’ tenants
for the source.
Author: Ravi Philemon

Rivière draws praise from Frasers’ retail and commercial tenants

Following the success of Frasers Property Singapore’s inaugural tenant mixer at Seaside Residences, it organised its second exclusive tenant event at Rivière. The tenant-only private preview of the highly-anticipated Rivière, which took place on Tuesday, 28 May, ended on a high note. Frasers’ retail and commercial tenants were treated to an evening of delicious food and cocktails at this invite-only event.

Rivière draws praise as tenants mingled around in show suite

Frasers’ said laughter and smiles filled the room as staff and tenants mingled around in the show suite throughout the event. From barista-served coffee through our mobile coffee bar, to cocktails and a delightful fusion dinner spread, the evening was designed to provide our guests with a memorable experience.

Located on the riverfront enveloped by the meandering Singapore River and elevated 18 metres above ground, all 455 units spread across two 36-storey towers will enjoy unimpeded views of the river, as well as the cityscape beyond. The tenants were quick to point out how prime the location is, akin to that of a private sanctuary, while still being minutes away from the city centre and major expressways.

Key factors to consider before your private residential property purchase

Rivière draws praise for design and architecture

Mr and Mrs Tan, tenants at China Square Central, were full of praises of Rivière’s design and architecture. “Overall, I really like the properties that Frasers develop. You can tell that a lot of thought has been put into it from the location to the architecture to the design of the living space,” they said.

Rivière draws praise for being an excellent investment property

Ms Lim, another tenant from China Square Central, who is considering Rivière as an investment property said, “I’m really impressed by the use of quality finishes. To me, that is the most important because that is what quality is at the end of the day.”

Aside from giving them an exclusive tour to Rivière, it was also a good get together session for the staff and tenants. The event ended on a positive note, with the staff and tenants toasting each other to a great year ahead.

Rivière draws praise

Image credit: Frasers Property Singapore

Rivière, a 99-year leasehold property located by the Singapore River and expected to be completed by 2023, offers one to four-bedroom apartments ranging from 560 square feet to 2,002 sq ft.

Pricing for Riviere condo starts from S$2,580 per sq ft.

The development which is to be launched in phases starting from July 2019, can easily be accessed from the future Great World MRT station that links with the Thomas East-Coast Line set to be operational by 2021. This means that future residents will enjoy easy access to the famous Orchard Road which will be just one train station away. The Orchard Train Station also allows residents to directly connect to East Coast Parkway, Marina South Station, Shenton Way Station and more.

Rivière draws praise for exclusivity and connectivity

Private vehicle owners can enjoy easy access to Marina Bay Financial District and Downtown Financial District through the major expressways linking the area. The Marina Coast Expressway, East Coast Parkway and Central Expressway connect River Valley Road to other parts of Singapore providing its resident’s easy rides. With excellent transportation, you can expect to enjoy easy access to nearby shopping centres, schools and other amenities in the precinct.

Riviere Condo Factsheet

Condo Riviere
Address Jiak Kim Street, Kim Seng Road
Developer Frasers Property
Tenure 99 Years
Condo District  9
Site Area 13,481.7 sqm
Gross Floor Area 145,120 sqft
No of Blocks  1
No of Storeys To be advised
No of Units 525 Units
Unit Types  1 to 5 br
Unit Sizes To be advised
Architect To be advised
TOP To be advised
Price Guide 2400-2800psf
Land Lot Number MK25-04111N
Plot Ratio 3.8
Price Guide
Price Bedroom Type
From $2400-2800 psf 1 Bedroom
2 Bedroom
3 Bedroom
4 Bedroom
5 Bedroom

With all 455 units elevated over 18 m above ground level, most residents will have unimpeded views of the Singapore River, while the Sky Deck on the 37th storey will offer impressive city views along with spas and an eatery. Riviere will be built as a residential cum commercial site with its larger development consisting of three conserved 100-year-old godowns along Jiak Kim Street, and newly built four-storey serviced apartments. The godowns will host a specialised grocery store, food and beverage outlets and more.

Housing loans continue downward trend in April, MAS

Riviere Condo was originally reserved by on the GLS programme with a 99-lease period. The site at Jiak Kim Street also enjoys a high unit land price on a psf basis for all the GLS sold except white and commercial sites.

How to Secure a Home Loan Quickly

Are you planning to invest in Riviere condo, but ensure of funds availability for purchase? Don’t worry because iCompareLoan mortgage broker can set you up on a path that can get you a home loan in a quick and seamless manner. We are the experts who do the work for you for free, while you lean back, rest and rely on our professionalism at absolutely no cost to you.

Our brokers have close links with the best lenders in town and can help you compare Singapore home loans and settle for a package that best suits your home purchase needs. Find out money saving tips here.

Whether you are looking for a new home loan or to refinance, the Mortgage broker can help you get everything right from calculating mortgage repayment, comparing interest rates all through to securing the best home loans in Singapore. And the good thing is that all our services are free of charge. So it’s all worth it to secure a loan through us.

For advice on a new home loan.

For refinancing advice.

The post Rivière draws praise from Frasers’ tenants appeared first on iCompareLoan Resources.

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GIC enters nascent Jakarta data centre market to jointly develop campus

Click on GIC enters nascent Jakarta data centre market to jointly develop campus
for the source.
Author: Ravi Philemon

GIC, Singapore’s sovereign wealth fund, and Polymer Connected, an eminent data centre provider, have established a partnership to develop a data centre campus in Jakarta.

data centre

Image credit: GIC – With a population of 575 million, 350 million internet users and 390 million active mobile users, Southeast Asia’s digital economy is forecasted to triple to USD240bn by 2025, and data centres represent the backbone of this movement.

With this partnership, Polymer Connected has acquired the land to build the campus, strategically located in Jakarta Barat. This will be Polymer Connected’s first campus in Indonesia and will include 2.6MW Tier III and 26MW Tier IV data centre facilities. It will adopt a hyperscale model, to be leased on a large, long-term basis to wholesale clients. Built to international design standards, the Jakarta Barat campus will be scalable, reliable and secure, and will be the first green Indonesian data centre to utilise Jakarta’s natural gas network to produce electricity.

Polymer Connected dedicated to building hyperscale data network in Jakarta

Darren Hawkins, CEO, Polymer Connected stated that, “With a population of 575 million, 350 million internet users and 390 million active mobile users, Southeast Asia’s digital economy is forecasted to triple to USD240bn by 2025. Data centres represent the backbone of this movement, which is why Polymer Connected chose to build its hyperscale data network here. Our aim is to provide businesses with state-of-the-art data solutions and to help our clients unlock their growth potential in these fast-emerging digital markets.”

Jakarta data centre market a nascent one

GIC’s partnership with Polymer Connected comes after a recent report said that “Jakarta’s colocation data centre market is at a nascent stage.” The report by CBRE titled ‘Asia Pacific Data Centre Trends Q1’, said the lack of rich fibre infrastructure outside the Golden Triangle and vibrant domestic outsourcing market has made it relatively challenging for overseas data centre colocation operators looking to enter or expand.

Take-up & Demand
The market has seen take up of 6-8MW over the past 18 months. The majority of take-up has been contributed by international hyperscale cloud providers as well as the finance industry, which is legally required to keep its core data within the country.

Supply
Overall vacancy (shell and fitted) stood at 29% in Q1 2019 as operators without a strong track record in working with multinationals are finding it difficult to attract tenants. The pipeline suggests that existing supply capacity will double over the next three years, predominantly driven by the availability of suitable sites and newer entrants.

Pricing
Indonesia remains one of the more expensive markets in Asia Pacific due to the relative lack of competition. However, the entry of new operators is expected to put downward pressure on pricing in the medium to long term.”

The CBRE report noted that Power supply in Jakarta is subject to reliability issues, meaning that some operators have had to locate private sources of supply or resort to building their own on-site power plant; and that the lack of data centre professionals is also hindering market development.

The region’s data centre market however, continues to expand, said the report. Colocation supply across the ten Asia Pacific markets covered by CBRE Data Centre Solutions Services totalled of 1,772 MegaWatts (MW) in Q1 2019.

Demand is predominantly coming from large technology and global cloud corporates from the U.S. and China, ensuring fitted capacity remains tight across the region, said the report.

“The pipeline is totaled for about 800 MW which will help to ease the tight availability over the past few years. Nonetheless, Singapore, the largest data centre market in this region, will remain as a tenants’ market with the ample supply.”

CBRE said that large-sized technology and cloud companies have been the major demand drivers, displaying large and unprecedented requirements and accounting for a significant amount of colocation space in the last 18 months. A colocation data centre is a standalone building in which multiple companies share space for storing and running their IT equipment, akin to a multi-tenant office building or apartment complex.

A Hyperscale Colocation typically denotes large power requirements (>500 kilowatts, kW) but end-user is specifically a cloud or large tech company with requirements for scalable power, storage, and cooling; whereas wholesale colocation typically denotes large power requirements (>500 kilowatts, kW).

CBRE said in its report that it only tracks carrier neutral colocation markets which excludes non-carrier neutral facilities, system integrators and self owned facilities (including the hyperscale cloud).

How to Secure a Commercial Loan Quickly

Are planning to purchase properties for investment in the the largest data centre market in this region but unsure of funding? Don’t worry because iCompareLoan mortgage brokers can set you up on a path that can get you a commercial loan in a quick and seamless manner.

Alternatively you can read more about the Best Commercial Loans in Singapore before deciding. Our brokers have close links with the best lenders in town and can help you compare Singapore commercial loans and settle for a package that best suits your commercial purchase needs.

Whether you are looking for a new commercial loan or refinance, our brokers can help you get everything right from calculating mortgage repayment, comparing interest rates all through to securing the loan. And the good thing is that all their services are free of charge. So it’s all worth it to secure a loan through them.

For advice on a new commercial loan or Personal Finance advice.

To speak to our Panel of Property agents.

For advise on refinancing advice.

The post GIC enters nascent Jakarta data centre market to jointly develop campus appeared first on iCompareLoan Resources.