\n 45% of Singaporeans feel unwise to refinance within lock-in period, a top home loan misconception hampering opportunities to save money <\/p>\n
SINGAPORE –\u00a0Media When asked for the Paul Wee, Managing Commercial banks’ “Just like going for a On the back of this discovery, Bjorn Sprengers, Chief Marketing Officer & Head of To extend its Why <\/b>Refinance<\/b><\/a> with PropertyGuru PropertyGuru Finance partners Being independent from PropertyGuru’s #Switch2Save with PropertyGuru 45% of Singaporeans feel unwise to refinance within lock-in period, a top home loan misconception hampering opportunities to save money SINGAPORE –\u00a0Media OutReach\u00a0– 18 January 2021 – PropertyGuru Group, (“PropertyGuru” or the “Group”), Asia’s leading property technology company, today revealed Singaporeans’ top misconceptions around home loan refinancing, according to new research conducted between 23 October …<\/p>\n","protected":false},"author":1,"featured_media":11312,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[60],"tags":[],"_links":{"self":[{"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/posts\/11311"}],"collection":[{"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/comments?post=11311"}],"version-history":[{"count":0,"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/posts\/11311\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/media\/11312"}],"wp:attachment":[{"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/media?parent=11311"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/categories?post=11311"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/tags?post=11311"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
\nOutReach<\/a>\u00a0– 18 January 2021 – PropertyGuru
\nGroup<\/a>, (“PropertyGuru” or the “Group”), Asia’s
\nleading property technology company, today revealed Singaporeans’ top
\nmisconceptions around home loan refinancing, according to new research
\nconducted between 23 October to 30 November last year.<\/p>\n
\nreasons for not refinancing their home loans, the research identified that 45%
\nof Singaporeans feel that refinancing their mortgage during their lock-in
\nperiod is an unwise decision, 34% perceive that a lot of effort is involved to
\nrefinance their mortgages, while 21% brought up the need to pay thousands of
\ndollars upfront when refinancing as a drawback.<\/p>\n
\nDirector (FinTech), PropertyGuru Group <\/b>said, “These findings all point to common mortgage
\nrefinancing misconceptions amongst property owners. Contrary to conventional
\nwisdom, there may be circumstances where refinancing during lock-in periods or
\nincurring break costs may still make sense. We have helped homeowners attain a
\nrevised loan structure with lower monthly payments and higher savings in the
\nlong run, despite having to incur a legal fee subsidy claw back. This is
\nachieved by tailoring a cost-benefit analysis to determine if a homeowner’s
\nlong-term savings outweigh the costs incurred to their current loan.”<\/p>\n
\ninterest rates have also reached historical new lows due to the pandemic,
\nserving as a good checkpoint for homeowners to review their current financial
\ncommitments, including home loans, and ensure long-term household economic
\nhealth.<\/p>\n
\nregular health check, it is prudent to re-evaluate your finances periodically
\nto ensure that the mortgage is serving your needs optimally. Everyone’s
\nsituation is different, and so is each home. Singaporeans should take a
\nstrategic and holistic approach to mortgage refinancing by considering other key
\nfactors such as their current financial situation, employment outlook, personal
\ncash flow, and even life plans,” added Paul<\/b>.<\/p>\n![](\"https:\/\/release.media-outreach.com\/release.php\/Images\/Thumb\/500x0\/118028\/PropertyGuru-Press-Release-Visua.jpg#image-118028\")
<\/p>\n
\nPropertyGuru Finance<\/a>‘s latest
\n“#Switch2Save” campaign in Singapore aims to shed light on the process of home
\nloan refinancing — thereby encouraging Singaporeans to act on the benefits of
\nrefinancing their home loans, thus saving money in the long run.<\/p>\n
\nFinTech, PropertyGuru Group<\/b> said, “Getting a mortgage is often
\nassociated with uncertainty and inefficiency, as well as reams of paperwork,
\nindustry jargon, and tricky fine print. PropertyGuru’s #Switch2Save campaign
\nshares the benefits of seeking one’s home loan through PropertyGuru Finance, a
\ntrusted mortgage advisor that is free, easy to work with and provides
\nindependent, personalised services for consumers’ better long-term financial
\nbenefits.”<\/p>\n
\nreach amongst consumers, the campaign will be progressively rolled out through
\npaid, owned, and earned media channels, running from 11 January 2021 till 31
\nMarch 2021, as part of a multi-channel marketing approach.<\/p>\n
\nFinance?<\/b><\/p>\n\n
\nwith all major banks in Singapore, including DBS, OCBC, Citibank, UOB, Standard
\nChartered, and Maybank. This means that property owners can choose from a wide
\nrange of refinancing options to get the most competitive rates and promotions.
\nPropertyGuru’s proprietary data is also used to regularly monitor home
\nvaluations and interest rates to help property owners optimally time moments of
\nrefinancing and enjoy the full benefit from capital gains.<\/p>\n\n
\nhome loans<\/b><\/li>\n<\/ul>\n
\nfinancial institutions, PropertyGuru’s team of experienced Home Finance
\nAdvisors can offer unbiased, personalised advice, and recommend the right home
\nloan package. They will then navigate through the home loan marketplace, track
\nindicative property valuations, submit the home loan applications, and share regular
\nupdates about the application status with homeowners\/homeseekers — absolutely
\nfree of cost.<\/p>\n\n
\ntechnology offers a range of smart tools and features for every step of the
\nhome finance journey, from understanding loan eligibility and comparing loans
\nto easily applying for multiple loans online. Some tools include a home affordability calculator<\/a>, refinancing calculator<\/a>, and a mortgage comparison tool<\/a>. These services enable
\nproperty owners to consume home financing services conveniently, securely, and
\ninstantly online.<\/p>\n
\nFinance at http:\/\/bit.ly\/Switch2SavePGF<\/a> today!<\/p>\n<\/p><\/div>\n\n
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