Just got our keys to our new house in One Canberra EC, in Yishun!
Reasons for buying:
- Near to Canberra MRT (5 min walk)
- Family all in Yishun
- Bigger place with 1 more bedroom for parents
Reasonably priced at $1.5M. With 2,260 sqft, that’s $660 PSF.
I took up a home mortgage with Standard Chartered Bank (SCB), with 1.25% interest (as of 2021, 3m SIBOR, float).
I am $1M in debt
SCB gives the lowest rate and good terms eg. after 2 years lock-in there’s 1 free refinancing. Interest rate will be low for the next few years, thereafter perhaps creep back up. By then, I could refinance, perhaps with a fixed rate.
They also provide additional loan by pledging in fixed deposit, or a show of your investment portfolio. That’s how I got myself into the $1m debt. Hopefully a good debt.
If you take a bank loan with SCB, do use my name “Ong Jun Da” for me to earn 0.12% referral fees, or we can split :)