More homeowners look to refinance loans as SIBOR inches up
SINGAPORE: More homeowners who took housing loans from banks are now looking for refinancing options. Loan specialists said they have been getting more inquiries since the recent spike in SIBOR (Singapore Interbank Offered Rate). Homeowners – whose mortgages are tied to SIBOR – are now facing higher monthly payments. One of those affected is 30-year-old […]
Moneylending curbs proposed, loan and interest rate caps suggested
SINGAPORE: A committee tasked to review moneylending regulations wants to limit the amount of money a person can borrow from licensed moneylenders, and to simplify the costs involved, especially for late payments. At a panel discussion on Monday (Nov 3), it suggested a loan cap of four times the borrower’s monthly income, interest rates to be […]