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Sengkang Central Residences – Great Amenities at Your Doorstep

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Author: iCompareLoan Editorial Team

Image Credits: Sengkang Central Residences, CapitaLand & CDL

Sengkang Central Residences is a luxurious condo built next to Buangkok MRT which has great connectivity to different road networks. The property was developed by Capitaland and the CDL. They brought together their expertise to make an outstanding property. The 3.7-hectare prime site offers the best site for the Sengkang Central Residences. There are about 682 residential apartments which range from one-bedroom floor plan up to the 5 bedroomed condos. There are also commercial amenities nearby which makes the residential property ideal for modern living. With amenities such as hawker center, childcare center, community club, and the retail shops, the facility allows you to enjoy the best of the urban living. Connectivity of Sengkang Central Residences

The site is connected to other parts of Singapore through the MRT station, bus interchange among other means of transportation. You will enjoy the urban vibrancy after you decide to stay in the condo. With just three stops away from the Serangoon MRT station, you will enjoy your stay at the residential property. The careful selection of the location makes the place a great location for you to enjoy life with your family members.

Nearby Primary Schools

Before you decide to make a given place your home, you need to check out and ensure there are enough learning facilities where your children will access quality education. The location of Sengkang Central Residences will never let you down. There are several nearby schools such as Palm View, North Vista, Punggol, Yio Chu Kang, Montfort, and Nan Chiau. All the schools are of the best quality. You can be sure of enjoying quality education for your kids.

Nearby Secondary Schools

Some of the best secondary schools, where you can take your kids include Hougang, Holy Innocents, Anchor Green, CHIJ St Joseph’s, Compassvale and Pei Hwa. All the schools are known to offer quality education. You can rely on the schools to access quality education for your kids. It is a place where you have everything to enjoy family living.

Shopping Malls

Apart from learning facilities, you should as well check on the availability of shopping malls. You will never regret after you decide to buy one of the properties at the residential development. You can easily gain access to nearby shopping malls such as Compass Point, Rivervale Plaza, Hougang Green, Fernvale Point, and the Seletar Mall.

Recreation Facilities Nearby

You need to live an active lifestyle to avoid lifestyle-related illnesses. There is no need to worry about how you can enjoy life to the fullest. The availability of Hougang Stadium nearby allows you to enjoy different adventures. You will always find the opportunity to work out as well as enjoying different activities at the stadium.

Why Many People Prefer Sengkang Central Residences

All Essential Amenities Integrated

You need other social amenities to enjoy a given residential area. The developers took into consideration to integrate different social amenities such as hawker center, childcare center, community club among others where you can enjoy your life. The 692 residential apartments are highly competitive due to the many amenities nearby.

Green Linear Park

There are enough plants and green parks nearby for you to enjoy the view. Each time you get out of your condo, you will face beautiful scenery outdoors. Parks such as Sengkang Central and the Compassvale Ancilla Park allows you to enjoy the natural environment.

Easy Accessibility

The property is located in the heart of Bungkok MRT station which you can easily access different parts of Singapore. With future bus interchange and the 20 minutes’ drive to the central business district, you will easily gain access to your office at the CBD among other places. There are different places you would like to access from your residential area; the location makes it a great place where you will enjoy.

If you would like to buy one of the units, then you need to look for funds. There are several places where you can get funds. Going for mortgages can be the best way. You can compare mortgage loan Singapore so that you can find the best by yourself. Or you can go for iCompareLoan mortgage broker who will help you to easily compare the loans and find the best fit loan!

For advice on a new home loan.

For refinancing advice.

Download this article here.

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The Midwood- Serene Residential Environment Redefining Luxury Living

Click on The Midwood- Serene Residential Environment Redefining Luxury Living
for the source.
Author: iCompareLoan Editorial Team

Image Credits: The Midwood, Hong Leong Holdings

The Midwood is a residential property developed to meet your lifestyle. You have the freedom to book from a one-bedroom house, two bedrooms, three bedrooms, four bedrooms or even five-bedroomed apartments. The condo is located at Hillview Rise (District 23). You will easily gain access to places such as Bukit Timah among other exciting places. The adjacent location of a dairy farm and the Bukit Timah nature reserve allows you to enjoy the best experience at your doorstep. The condo is just five minutes’ walk from Hillview MRT station making it easily accessible to many other places in Singapore.

The developer of the Midwood has been developing properties across Singapore. When it comes to modern living, it is fully defined due to the great design of the condos. The condos are developed to make you enjoy your free time as you relax at home.

The Midwood – healthy living

It is necessary to check out a place where you can enjoy healthy living. The strategic location of The Midwood allows you to access the green nearby where you can enjoy the fresh air. Nearby nature allows you to have apace where you can spend time strolling. Bukit Timah nature reserve nearby allows you to interact with nature anytime you may feel like enjoying your life. With other nature reserves such as Bukit Batok Nature Park and the little Gullin, you can have a place where you can go and enjoy free time with your family members. When it comes to enjoying your free time, you will find the location a great place where you will have several activities suitable for the whole family. For instance, you can visit the nearby game reserves and get to enjoy life with your loved ones.

Several dining and shopping places

To enjoy your life, you need a residential area where you can easily access shopping centers. You will never run short of shopping centers if you decide to book the residential apartment. With nearby shopping centers such as the Rail Mall, Bukit Panjang Plaza, Junction 10, Westmall, Beauty World and the Bukit Timah shopping centers, you have everything you need to enjoy life to the fullest.

Nearby education institutions

You need a place where children will access quality education. Midwood has a lot of schools where children will access the necessary education they need to enjoy life. For example, they will access schools such as Assumption English school, St Francis Methodist School among other schools. Remember you need to take into consideration the availability of schools if you would like to enjoy quality education. The schools nearby make it easy for you to secure the best places where children will have the best education.

Serene environment

You need to stay in an environment which is free from air pollution among other issues. You will have the opportunity to stay in a place which is near the facilities available in urban centers but you will enjoy cool environment. The nearby greens and game parks allow you to enjoy the coolest environment possible. Your family members will have an environment where they can enjoy peace of mind. It does not matter the size of your family, you can choose from the different bedroom sizes so that your family members will have the best place to enjoy their free time.

Luxurious residential units

The residential units are developed to meet the highest standards. If you are after a luxury apartment where you can enjoy your life, then you need to think of the apartment. With the quality interior layout, you will have the best opportunity to enjoy life to the fullest. There is no restriction on the space; you can choose from the different bedrooms available.

To book the residential property, you need funds. It will cost a good amount of money considering many people are willing to stay in the apartment. But there is no need to fret because you can opt for iCompareLoan mortgage broker who will help you compare home loan Singapore. There are many Singapore housing loans available but you will need to compare and identify the best with the fairest terms. With iCompareLoan, they will take the hassle out of the comparison!

For advice on a new home loan.

For refinancing advice.

Download this article here.

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View At Kismis: A Condo to Meet All Your Luxury Living Demands

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Author: iCompareLoan Editorial Team

Image Credits: View at Kismis, Roxy-Pacific Ltd

View at Kismis residential properties is available to the public after Tony Eng Group decided to merge with Roxy Pacific. The condo was developed a long time ago but it has changed ownership. You can buy it and expect great returns due to its location at Bukit Timah. There are enough schools and other social amenities which people need to enjoy their living. Excellent connectivity makes the place ideal for many families which would like to stay in a place where they can access different social amenities. If you decide to get one of the units at the development, there are several benefits you will enjoy. Some of the benefits you can enjoy upon buying one of the units available include the following:

The Perfect Location – Bukit Timah

Before you invest in a condo, it is necessary to check on its location. Many people would like to take into consideration the location of a given place before they can proceed to invest. View at Kismis is located at Bukit Timah (District 21) of Singapore. The place is very attractive due to the many conveniences it offers. For example, it is close to many transportation facilities. If you would like a place where your family members can enjoy their free time, you have the freedom to visit parks nearby, eateries, and shopping centers among other locations. There are also quality hospitals nearby in case of any emergency.

Excellent Connectivity

You need easy access to other places. With the strategic location of the place and its easy connectivity, it offers the comfort you deserve with your family members. For example, you will access other places via the Great World MRT and the Newton MRT interchanges. Well established transportation system makes the place easily accessible to the CBD and other parts of Singapore. Major expressways such as Bukit Timah are also easily accessible. If you prefer a place where you can easily access other parts of Singapore, the strategic location of the condominium makes it a great place where you can make a home. Everything you need to enjoy your stay has been put in the same place. It is a place where you will enjoy life to the fullest.

Proximity to Good Schools

Before you can decide on a given home, you need to take into consideration nearby schools where your kids will enjoy playing. There are more than enough schools nearby making the location the best place where you can enjoy your life. There are both private as well as public schools nearby which make it an ideal location where you will enjoy living with children. Some of the big school nearby includes the following: Bukit Timah Primary School, PEI HWA Presbyterian primary school, Methodist Girls’ School, Yusof Ishak Sec School, Bukit View Secondary School, KIDZEE Pre-school, Integrated International School, German European School Singapore and Nexus International School. They are among top schools in Singapore where you will access quality education for your kids.

Nearby Shopping Centers

It is also necessary to check out nearby shopping centers so that you can know the best place where you can go shopping. With close proximity to shopping centers such as Bukit Timah plaza which is less than 20 minutes’ drive and the several shopping malls, you will access all the items you need to enjoy your life. Some of the big brands nearby include the KFC, Popular Bookstore, Pizza Hut, DBS bank among other amenities you need to enjoy your life.

Nearby Dining Options

Sometimes you would like to eat out. In such a case, you can enjoy easy access to a wide range of dining options. For example, you can access Bukit Timah among other dining options such as the rise and grind coffee house. There are more than 150 stalls nearby to pick from when it comes to dining.

Parks around View at Kismis Condo

If you decide to stay at View at Kismis, then you will not run short of activities. You have access to several hiking trails for you to enjoy outdoors. Kampong trail makes among the best places you can goad and interact with nature. Other parks nearby include the Hindhead nature park, green corridor among others.

After you have developed an interest in buying View at Kismis, you may be faced with the challenge of finance. You should not worry. You can take advantage of iCompareLoan mortgage broker and analyze different mortgage providers. If you can compare Singapore home mortgage providers, then you can easily locate the best. Always take into consideration all costs associated with the mortgages when you compare mortgage loan Singapore. The broker makes the process very easy.

For advice on a new home loan.

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Download this article here.

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Piermont Grand – A Residential Property Defining Modern Living

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Author: iCompareLoan Editorial Team

Image Credits: Piermont Grand, City Development Limited

Piermont Grand was developed by a reputable developer. City Development Limited (CDL) is a world-class company which has been developing properties in different parts of Singapore. The Piermont Grand is a premier residential complex where you can choose from one-bedroom to five-bedroom accommodation for your family. The development has been carefully developed to cater to the needs of many Singaporeans. If you are a Singapore citizen in need of a residential property, then the Piermont Grand can be the best place where you can get accommodation. The property is strategically located in district 19 Punggol. It is a strategic location which has access to all the amenities you need to enjoy urban living. Eligibility for Piermont Grand residential properties

To be eligible for the properties, there are several conditions you should meet. For instance, the properties are offered to people who are in family settings such as Family Nucleus, Public Scheme, Fiancé/Fiancée Scheme, Orphans Scheme, and Joint Singles Scheme. If you belong to any of the family setups, then you can apply for the residential property. It has been built to meet the latest standards so that it can offer you all the necessary comforts you need to enjoy life.

Citizenship eligibility

The property is aimed at benefiting Singaporeans. You must be a citizen in Singapore to qualify for the properties. There are several other considerations given even if you are not a citizen of Singapore. For instance, you should be in a relationship such as marriage where one of you is a Singaporean. Apart from being a citizen, you can be a permanent resident in Singapore to qualify for the properties. If you are single, then you should be a Singapore citizen.

Age considerations

To qualify for the Piermont Grand accommodation, you should be at least 21 years old. If you are applying under the joint single scheme, then you should be at least 35 years and above. It is competitive residential property schemes you need to take advantage and you will enjoy your life. The accommodation facility has been developed to meet the need for modern-day living. Its strategic location allows easy access to different facilities you may need.

Income ceiling

There is an income ceiling as a consideration. For example, to qualify for the residential property, you should not earn more than $14,000. There is also a consideration where you should not own other properties either over or locally for the last 30 months which you have disposed of. If you can check on the different considerations, you will realize it is a property you can qualify easily if it is your first time trying to acquire a property.

Nearby schools

You need a residential property where your kids can gain access to the best schools. Piermont Grand has several schools nearby for you to have the best place where your kids can enjoy learning. Some of the schools available nearby include Punggol cove primary school, Springdale primary school, Punggol view primary school, Anchor green primary school, Punggol view primary school, Man Chiau high school and the Mee Toh School.

Retail stores nearby

You will never struggle to access places where you can buy items after you decide to stay at the premises. For example, you will easily gain access to nearby retail stores such as Waterway Point, Punggol Plaza and the compass one. The location is well connected to other places through road networks. For instance, you will easily reach other places through the use of transportation facilities such as Sumang LRT station, TPE and the Punggol bus interchange. There are also several nearby workplaces where you can enjoy working as you reside nearby. If you are after a place where you can enjoy your life, then the location of the facility is among the best places where you can reside.

How to access funds to buy the property

You need funds to easily buy the property. The best way to go about it involves looking for mortgage providers. You can use iCompareLoan mortgage broker to compare different home loan Singapore. Remember you need to locate the best which can be favorable to you when repaying. If you can find a broker to compare Singapore housing loans, you will be sure of locating the best financing for your dream home.

For advice on a new home loan.

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Download this article here.

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Landed homes are an excellent asset for wealth preservation, Research

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for the source.
Author: Ravi Philemon

A recent research by List Sotheby’s International Realty (List SIR) said that landed homes are an excellent asset for wealth preservation. The report pointed out that landed homes offer a copious amount of living space that is suitable for multi-generation families, and as such, provide a relatively higher quality of life.

“On top of that, landed homes with freehold/999-year leasehold tenure rarely depreciates in value when held for the long term and thus serves as an excellent asset for wealth preservation.”

landed homesThe report added that though landed homes seem to provide more bang for the buck on a $psf basis when compared to non-landed homes, the absolute quantum of $2 million and above for a freehold/ 999-year leasehold landed home of at least 1,500 sq ft poses a barrier to entry for most of the population. But for those who can afford, landed properties could be one option when considering to purchase a home.

The report said that since there will no longer be any new freehold/999-year leasehold land distributed by the government, the existing stock of landed properties will become even more valuable.

The restriction on the ownership of landed properties means that the market is dependent solely on local demand. But even without foreign inflows, the market for landed property could still be sustained. As Singaporeans become more affluent, the desire to upgrade their homes is likely to increase.

All of which resulting in the demand for freehold/ 999-year leasehold landed homes continuing to grow over time.

An OCBC Investment Research report from last year said that unlike non-landed properties which rebounded 1.3 per cent in 2017, landed properties fell by 0.5 percent in the same period. But this is set to change according to iCompareLoan‘s chief mortgage consultant Paul Ho.

Mr Ho said that “as the sales proceeds start to come in from the en bloc sales completion, landed homes, especially the Inter-terrace segment will hot up.” This Mr Ho believes is because en bloc sales homeowners who are flush with cash, will resort to value hunting instead of choosing smaller condominiums which are beginning to sell at unbelievable prices.

Dr Lee Nai Jia, Senior Director and Head of Research at Knight Frank Singapore said in an op-ed in Business Times that “now is the right time to buy landed property.”

“The supply of landed homes has been limited. From Q4 2008 to Q2 2018, the total stock of landed homes rose 6.4 per cent, from 68,761 units to 73,150 units. Yet, the total stock of non-landed homes went up by about 70 per cent from 172,443 units to 293,593 units over the same period.

With a lack of a strong supply of landed homes, it appears that prices of landed homes tend to trend up more than prices of non-landed homes during an upswing in prices. The Urban Redevelopment Authority’s (URA) residential price index for landed homes rose 87.7 per cent during the upswing from Q2 2009 to Q3 2013, while prices of non-landed homes appreciated 56.2 per cent over the same period.”

A research by CBRE freehold projects will present a better value over leasehold projects in the growing landed property market.

Joseph Tan, Executive Director at CBRE Asia Pacific, speaking at a Propertyguru seminar in May last year said:

“As of now, the total number of housing units offered in the market is 380,000. Landed properties only consist of 1.5 percent of the total housing stock, a small supply compared to non-landed properties which comprise 98.5 percent. Around 90 percent of landed properties are freehold while the remaining 10 percent are leasehold.

“Non-landed homes priced at $1 million to $2 million remain most favoured amongst Singaporeans. For landed homes, most investors prefer those priced at $2 million to $3 million. However, the gap between property prices for 99-year leasehold and freehold landed properties is quite narrow due to the scarcity in this category.”

Mr Ho said that given the land scarcity in Singapore, demand for landed homes in Singapore will continue to rise over the long term. He pointed out that Singapore continues to be a global financial centre and a trade hub with high livability scores – all of which attracts high net worth investors to the Republic. All these factors will inevitably fuel demand for landed property in Singapore he added.

Mr Ho believes that value buys in the property market right now are are landed inter-terrace houses which’s per square feet price on the built-up area is usually less than $1,000.  But Mr Ho cautioned that the bigger challenge for buyers of landed property is securing the best home loans.

“With the right loan, the buyer can save thousands, if not tens of thousands of dollars,” he said. Adding, “which is why they would have to work with established mortgage brokers who can provide them free service.”

How to Secure a Home Loan Quickly

If you are eyeing freehold landed site, but are ensure of funds availability for purchase, our mortgage consultants at iCompareLoan can set you up on a path that can get you a home loan in a quick and seamless manner.

Our consultants 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.

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Financial emergency – how to deal with it without panicking

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for the source.
Author: Ravi Philemon

Have you just been blindsided by an unexpected financial emergency and don’t know what to do? Whether it’s a job loss, medical expenses, or an emergency home repair, an unexpected change in your financial situation can be incredibly stressful. The bills still need to be paid, the utilities need to stay on, and you need to put food on the table, so how should you cope with a financial emergency?

By: Phoenix Lee/

Financial Emergency

Image credit: aenri05/Flickr

Evaluate the Financial Emergency

Take a moment to sit down and carefully evaluate your financial emergency. Running around in a panic won’t solve anything and only lead to additional stress. Understandably, you probably have a million things running through your head and being cool and collected is the last thing on your mind, but the ability to carefully evaluate your situation will ensure you make the right choices.

First, determine what caused this financial emergency. Before you can look at ways to resolve the situation, you need to understand the cause. Is it a sudden loss of income? Mounting expenses that you can’t keep up with? While each situation can lead to similar burdens, your plan of attack will likely need to address the root of the problem to be effective in the long run.

Prioritise Expenses
Not all expenses are created equal. There are certain bills that need to be paid before others. Some of the most important items to put at the top of your list should be food and shelter. Is it worth risking foreclosure to keep your cable bill current? Obviously not, so carefully examine all of your expenses and determine which are the most important. It isn’t worth paying something that will put you in jeopardy of being unable to pay for a necessity.

Once you’ve established which bills are the most important, you can begin looking for expenses to cut out of your budget. While it might not be much fun to cut out some of the things you’re used to, it might be what’s necessary to keep you from slipping into an even deeper financial hole.

Look for ways to cut back or eliminate things completely. For example, if you regularly go out to eat, consider cutting back or eating at home entirely. It doesn’t take much. If you were to only find five different ways to save $20 each month, you’ve instantly freed up $100 that can go towards your important and necessary expenses.

Negotiate With Lenders
If you’re having trouble with credit cards, medical bills, or even your mortgage, the first thing you should do is call your lender. Believe it or not, it’s in their best interest to help you make your payments, even if it means a lower interest rate or extending the terms. People so often wait until they already get severely delinquent before contacting their lenders, and by then they aren’t as willing to work with you. If you know that money is getting tight and you might need help, call them before you get behind.

Calling your credit card company can result in a lower interest rate, and in some cases may even lead to a temporary delay in making payments. Reaching out to your mortgage company can lead to a restructuring of your loan. And even when it comes to your utilities like electricity and gas, they usually offer programs to help keep the lights on and make payments affordable if you’re experiencing a hardship. Don’t wait for the threatening letters to start coming in the mail before taking action.

When in Financial Emergency, Find Extra Money
Ideally, you want to have some money set aside in an emergency fund to help pay for any unexpected expenses, but this isn’t always possible. Where do you turn when you’ve exhausted your savings account?

You can always try to get a loan or use credit cards, but these may only make the problem worse. While borrowing money can provide quick access to cash, it can also come with high interest rates and a new monthly payment. If you’re experiencing a financial hardship for an extended period of time, you may find yourself in a downward spiral that is nearly impossible to recover from.

Another option could be to check with friends and family. Nobody likes to ask for money, but a little bit of help from a loved one might be all that you need to get through the rough patch. Of course, this can also put a strain on some relationships, so proceed with caution.

And finally, you may have some money available via investments or in retirement accounts. Generally speaking, withdrawing money from your retirement accounts is a bad idea as it can put your retirement security in jeopardy, but it could also be enough to keep you from going into even further financial trouble.

Take Advantage of Available Assistance
When it comes to a financial hardship, there may be assistance out there for you. From Comcare Childcare Subsidies to the various Financial Assistance Schemes, there are several Government run programmes to assist you. It is best to approach your nearest social service centres if you need help.

Planning for the Next Financial Emergency
If you’ve made it through difficult times in the past and want to minimise the impact in the future, there are a few things you can do to prepare. Start with an emergency fund. This is exactly why they are called emergency funds. A good rule of thumb is to have a few months worth of expenses set aside in the bank to help pay for unexpected expenses or pay the bills if you lose your job. Obviously, the more you have saved, the better off you’ll be. But even a month or two worth of expenses saved up can buy you some time while you get things back on track.

You also want to consider insurance. Most forms of insurance are a safety net to cover expenses. Having a plan in place before a financial crisis strikes will take a lot of weight off of your shoulders. Knowing what expenses you have and how you’ll pay for them will make a stressful situation that much easier to cope with.

How to Secure Personal Loans Quickly

If you are in a financial crunch and are searching for personal loans, 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.

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HDB home defect inspections are owners responsibility, Minister clarifies

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for the source.
Author: Ravi Philemon

The Minister for National Development has clarified that HDB home defect inspections are the responsibility of flat owners. The Minister was responding to a parliamentary question by an MP who asked, “what are the measures to ensure that home defect inspectors are adequately trained and accredited; and (b) whether BCA will introduce a licensing framework for this profession.”

Home buyers engage private sector firms to undertake HDB home defect inspections

In responding to the question the Minister said:

“BCA encourages the construction industry to improve on workmanship quality through the Construction Quality Assessment System (CONQUAS) and Quality Mark (QM) schemes. CONQUAS assesses the structural works, architectural works, and mechanical and electrical works of a new building project. QM assesses the workmanship quality of the internal architectural finishes of every dwelling unit to ensure consistent workmanship quality.

Home buyers can use the CONQUAS and QM scores as a guide and benchmark for quality when they purchase a home. Beyond that, some home buyers also engage private sector firms to undertake home defect inspections. These home defect inspectors are not regulated or licensed by BCA. Our focus is to put in place tighter quality controls at the start of the building process. That is what the CONQUAS and QM schemes aim to achieve.”

New flat buyers can save some money from repair services if they do HDB home defect inspections right before renovating their flats. That said, some defects are more visible to the naked eyes than others. Even experts may not be able to detect some defects.

6 renovation mistakes that you are going to regret

HDB home defect inspections

Case study on importance of HDB home defect inspections

A case in point for new HDB flat buyers,  is that of a unit at the 10th floor of Block 678C Punggol Drive. The homeowners of a relatively new Built-to-Order (BTO) flat unit were only able to enjoy their unit for about 7 months in peace, before a termite infestation turned their dream home into a nightmare. The owner, 33-year-old insurance agent Mr Wong, shared with the Chinese daily that he and his wife moved into the unit in December 2016. In July 2017, the couple discovered a termite infestation in their home.

Just one month later, the couple found that the matter was more serious than they initially thought when Mr Wong discovered several nests in the wooden skirting of his home when his wife was abroad in August 2017.

Afraid, Mr Wong paid $300 to a pest exterminator to get rid of the termites. Unfortunately, the termites returned over the next few weeks, rebuilding their nests at the wooden skirting of the flat.

Mr Wong contacted Housing Development Board (HDB) about the matter. HDB revealed that they visited the flat in September 2017 but could not locate the termite nests. Mr Wong told reporters that after a subsequent house visit and investigation at the end of November 2017, HDB officials shared with him that they suspect the termites might have come from the roof garden above the unit.

Mr Wong revealed that HDB sent officers to remove the wooden skirting as a temporary solution last week, as the situation continues to be closely monitored by officials. A HDB spokesman added that while it is the responsibility of the flat owner to maintain their home, the Board is helping to exterminate the termites out of “goodwill”.

Unfortunately, the termite issue is not the only problem Mr Wong and his wife are facing. The insurance agent revealed to reporters that they also have to deal with water leaks on rainy days, as rainwater slides down the outer walls of his flat and leaks into his flat.

He lamented to the daily: “When it’s raining, there’s water leak. When it’s not raining, there’s termites, we don’t know what to do.”

It is now clearer that HDB home defect inspections such as this will have to be undertaken by the homeowners engaging private contractors.

Defects in newly completed private non-landed property and HDB flats are not uncommon. Some years ago, residents of the Seaview Condo sued the developer, the main contractor, the architect and the electrical engineers for $32 million for all the defects in their project.

New Condominium Defect Inspection: An Expert Interview

Developers of public housing projects are not without faults either. New HDB flat buyers should note that some reports say that there are 400 to 600 defects on average, in any newly TOP BTO unit.

How to Secure a Home Loan Quickly

If you are eyeing freehold landed site like the one at 537 Upper Changi Road, but are ensure of funds availability for purchase, our mortgage consultants at iCompareLoan can set you up on a path that can get you a home loan in a quick and seamless manner.

Our consultants 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.

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Parc Clematis to be launched for preview next weekend

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Author: Ravi Philemon

Parc Clematis, SingHaiyi Group’s 1,468-unit residential project in Clementi, is set to open for public preview on 17 August (Saturday), with bookings starting on 31 August.

parc clematisParc Clematis, 99-year old leasehold condo which replaces the former Park West Enbloc, which was successfully sold to the developer at a cost of $840.89 million. The condo project is expected to yield a total of 1,500 units.

An upswing of enblocs in real-estate has been witnessed recently in Singapore but Parc Clematis represents one of the larger developments within the Clementi mature estate. This means there will be plenty of amenities in place for the new owners to take advantage of.

Prices for a one-bedroom unit at Parc Clematis starts from around $1,550 per sq ft (psf), $1,540 psf for a two-bedder, and S$1,530 psf for a three-bedder. Prices for the landed units, on the other hand, is not available.

“I think there is always a demand especially for Parc Clematis since there have not been new launches in this area for the past three and a half years,” said SingHaiyi deputy chief executive Gregory Sim.

Unit Configuration

Parc Clematis will feature a variety of unit types ranging from 1-bedroom to 5-bedrooms.This means single professional, fresh couples and multi-generational families all have a place at the condo.

Condo Facilities

With SingHaiYi in charge of the project, future residents and investors can expect a gamut of first-class amenities throughout the condo. The developer plans to include such amenities as a 50-meter pool, children’s playground, indoor gym, outdoor BBQ, 24-hour premium concierge service and more. This is means all the comfort, fitness, fun and luxury needs of residents are well taken care of.

Location

Parc Clematis found within a private residential estate that’s highly developed. The condo development sits next to a few other condominiums with rest of its neighboring properties being landed houses of the Faber Hills Estate. The up and coming area, where Parc Clematis sits, holds much promise to investors because it lies between the established Clementi township ( on the east) and the Jurong Lake East District economic hub on the west side. And with many schools and unique transport and lifestyle amenities surrounding it, future residents will definitely enjoy greater convenience living with the area.

Parc Clematis Amenities and Features

Schools

The Parc Clematis condo’s location can be strongly appealing to families with young school-going kids because there are good schools and education institutions lying in close proximity. The Nan Hua Primary, located just directly opposite the condo, is one of the country’s top-ranking co-ed primary schools that can be great for kids to enroll in.

Also, within a 1 km radius, there are good schools like the Clementi Primary, Qifa Primary and Pei Tong Primary. Further, a number of established learning institutions, going up to tertiary level, are located close by like the Tanglin Secondary, Singapore Polytechnic, Anglo-Chinese Junior College, LASALLE College of Arts and more, where residents can enroll themselves or their children in.

Transport System

The Clementi MRT Station is roughly 10 minutes’ walk away from Parc Clematis. There’s a site, beside Clementi Primary & secondary that has been zoned for a HDB project. But once the precinct is fully developed, there should be a way going directly across Clementi Avenue 6 via a pedestrian bridge to the Clementi MRT station and town center. This will reduce to the walking time to about 5 to 7 minutes.

The fact that abovementioned MRT is on the East-West line, one of the longest lines there is in Singapore, means they’ll enjoy greater convenience travelling to areas between Jurong and Changing International Airport. Some of these stop overs along the way include Jurong Gateway, Raffles Place, Tanjong Pagar and Paya Lebar.

The condo also lies not-so far from Ayer-Rajah Expressway (AYE), a major expressway with an exit close by, that connects to rest of Singapore’s expressway network. This means travelling to the city and the rest of the island by car is fast and hassle-free.

Shopping, Banks and Lifestyle Amenities

Parc Cleamatis’ location in a mature estate means residents have access to countless amenities that can suit all their shopping, economic and lifestyle needs. There are a couple of malls located a short from the development like the Clementi Mall, Grantral Mall, 321 Clementi and West Coast Plaza.

Residents can also take advantage of the nearby supermarkets such as Fairprice, Cold Storage, Sheng Siong and Giant. Other lifestyle amenities located close by include the West Coast Park, Sunset Way Park, Clementi Woods Park as well as the Clementi Swimming Complex and Sports Center.

Parc Clematis Condo Pricing

Developer SingHaiYi Group is yet to release the full official price for the condo development. However, real estate analysts speculate the indicative selling price would be between $1,500 and $1,600 psf.

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HSBC International Mortgage expands foreign mortgage solutions

Click on HSBC International Mortgage expands foreign mortgage solutions
for the source.
Author: Ravi Philemon

Whether you are looking to invest or refinance your Australian property, you can now seamlessly finance it locally with the new HSBC International Mortgage. Exclusively for residential properties in Adelaide, Brisbane, Perth, Melbourne and Sydney, you can now enjoy:

HSBC International Mortgage

  • Option of AUD or SGD financing
  • Loan tenor of up to 30 years
  • Loan amount of up to 70% (for AUD loan) and 60% (for SGD loan) of purchase price or property value, whichever is lower

HSBC Singapore said on Tuesday that it is hoping to tap on the growing number of Singaporeans who plan on buying investment properties abroad with the launch of its first overseas mortgage solution – HSBC International Mortgage. Besides the 5 Australian cities, other overseas destinations to be added over time, said the bank. Successful applicants will get HSBC Premier status, which gives them access to a relationship manager in Singapore and Australia to facilitate the process, the bank added.

TALK TO A LOAN CONSULTANT ABOUT REFINANCING YOUR AUSTRALIAN PROPERTY WITH HSBC INTERNATIONAL MORTGAGE

“We went with Australia as the first market for this solution given the close affinity that Singaporeans have for the country on the back of their business, education, holiday or familial ties. as a result of business, education, holiday and familial ties,” Ranojoy Dutta, head of Retail Products, HSBC Bank (Singapore), said.

According to Knight Frank’s 2018 Wealth Report, Australia was the second-most popular destination for prime property purchases among wealthy Singaporeans. Real Capital Analytics data showed that Singapore’s real estate investment in Australia grew 141 percent in 2018 to $3.5 billion, despite skyrocketing property prices,

Announcement of HSBC International Mortgage comes as several Australian lenders are clamping down on home loans to foreigners as concerns about housing market down under mount. Rising demand, especially from China, has triggered concern that Australian residents are being priced out of the property market.

Westpac for example, said in late April that it will no longer lend to offshore customers who are not citizens, or who do not hold appropriate residency visas. And since early May, the bank followed up with a formal demand for payment from some customers, reminding them of the terms of the facility.

About 300 of Westpac Singapore’s customers were notified that the bank would unwind its mortgage loan portfolio. The decision to unwind its mortgage loan portfolio will affect properties in Australia and New Zealand.

Westpac Banking Corp is of Australia’s oldest and second largest bank, and its Singapore office is Asia’s headquarters. According to Business Times, the bank gave its customers six months (till end September) to repay or refinance the loans within this time period.

Westpac’s decision to unwind its mortgage loan portfolio comes after bank posted its worst half-year profit since 2013. It was reported in early May that the bank posted its second lowest half-year profit since 2013, as interest income shrank along with the housing market, and costs increased as the bank compensated some of its customers for mishandled services.

Analysts noted that there was no sign that Westpac would see a rebound in profits in the short term, and that falling housing demand, tightening credit standards and greater competition from non-banking sector, will constrain the bank’s performance.

They added that the weakness in the housing market, as well as increasing numbers of borrowers rolling-off interest only loan into principal and interest, is resulting in a rise in mortgage delinquencies. The proportion of borrowers at least 30 days behind on their mortgage loan in Australia has risen from 14 per cent in September to 159 per cent at the end of March.

HSBC in highlighting its “Beyond the Bricks” report from 2018 said one-third of high net worth Singaporeans have overseas property investments, and that 70 per cent plan to buy investment properties abroad.

Exclusive promotional interest rate for HSBC International Mortgage

As HSBC’s valued customer, you will be offered an exclusive promotional interest rates when you take up an International Mortgage (for Australian property only) with HSBC.

Loan currency Interest rate
SGD loan 3M SIBOR# + 2.28% throughout loan tenor (indicative 4.16% as at 1 Aug 2019)
AUD loan 1M AUD VLR+ + 2.18% throughout loan tenor (indicative 3.19% as at 1 Aug 2019)

Eligibility:

  • Singapore Citizens / Permanent Residents or Foreigners (Employment Pass holders) residing in Singapore
  • Minimum loan size of $200,000 (AUD/SGD)

The minimum income to qualify for this International Mortgage for Australian property is $180,000 per annum. HSBC can provide such loans for foreigners residing in Singapore, whereas other banks cannot. Its Australian dollar loan rate is below 4% – one of the best any lender can provide. But refinance can only be done Singapore dollar to Singapore dollar or Australian dollar to Australian dollar.

How to Secure a Home Loan Quickly

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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.

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Payday loans make the poor poorer in most instances

Click on Payday loans make the poor poorer in most instances
for the source.
Author: Ravi Philemon

Payday loans make the poor and vulnerable to use it as a crutch and seldom get them out of poverty

By: Hitesh Khan/

Payday loan seem to be popping up everywhere. Often you’ll see one at single intersection, and their popularity is due to the “get it now for nothing” attitude that seems to be pervading our culture. For instance, car, furniture, and electronics commercials will often say something like “get it now for no money down, 0 interest, and 0 payments for 6 months!!!”

payday loans makePayday loans make such offers compelling – something for nothing – but of course there’s much more to it. They will stick you with a large interest rate once your first payment is due, and you’ll end up paying a lot more than you hoped.

Payday loans are similar. It seems like it would be a decent service for people that have relatives coming over for the weekend, or someone that needs some extra cash to pay a bill every once in a while; however, the people that go to payday loan businesses don’t just come in on occasion. They come in repetitively, often paying off their last loan with a new loan. To get a payday loan, a person must bring in some ID and fill out a short application.

The saddest thing is that the customers who got the loans are already poor, and payday loans make them poorer.

In the context of Singapore the most vulnerable are foreign workers. The Ministry of Law (MinLaw) on July 15 announced a comprehensive set of measures to stem the increase in money lending activities targeting foreigners (work pass holders). Foreigners refer to individuals who are not Singapore Citizens or Permanent Residents.

This includes restrictions on the supply of loans by licensed moneylenders (LMLs) to foreigners, a reduction of the aggregate loan cap for low-income foreigners, as well as new restrictions on LMLs’ lending and advertising practices. Avenues of help are available for existing borrowers who need it. The Ministry said that new measures are complemented by education and outreach efforts by the Ministry of Manpower (MOM) and the Police, and enforcement efforts against unlicensed moneylenders.

MinLaw said the measures are necessary to address the rising number of foreigners borrowing from licensed moneylenders (LMLs), which has risen sharply over the past three years and has remained high. Overall, there were 53,000 foreign borrowers who took up loans from licensed moneylenders in the first half of 2019, compared to 55,000 borrowers in 2018, 19,000 borrowers in 2017, and 7,500 borrowers in 2016. The Ministry clarified that as the same borrower may have borrowed more than once within the same calendar year, the full-year and half-year figures are not directly comparable.

Many people say that the licensed moneylending industry provides a service for which there is genuine demand. Although that’s true, it is more of a vice than a service. People may be better off going to friends and family or selling something on ebay or at a Carousell if they genuinely need money.

The real issue is that people rarely use payday loans to get out of tight spots; Payday loans make people use them repetitively as an addictive crutch. The poor and less educated are more susceptible to the payday loan myth and it leads them down a vicious spiral which often hurts their credit and always costs them more than it’s worth.

There is of course the laws of supply and demand also, but people often act irrationally or at most rationally with limited knowledge of what it is actually costing them. Resources that go into payday loan business would be better used somewhere else.

Payday loans can be used in time of desperate need. Perhaps your motorbike has broken down, you can’t get help from any friends or family (or don’t want to risk possible repercussions of asking them for money), you don’t have a credit card, and you believe that you can pay off a loan with your next paycheck. A payday loan may help get you out of this temporary rut.

Other emergency situations like an eviction threat, a medical emergency, or similar circumstances may be a good time to consider a payday loan. Before doing so, ask yourself the following questions:

  • Is this a necessary expense?
  • Will I be able to pay off the loan within a month?
  • Have I looked into other alternatives that charge less interest, including friends and family?
  • Will I adjust my budget or do my best not to need another loan in the future?

If you answer yes to all of these, then you might consider a payday loan. Payday loans make you addicted, so just be careful not to allow it to become a habit.

How to Secure Personal Loans Quickly

If you are in a financial crunch and are searching for personal loans, 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.

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