50 Year Loan Tenure ChannelNewsAsia 14/08/12 - featuring SmartLoans.sg

50 Year Loan Tenure ChannelNewsAsia 14/08/12 - featuring SmartLoans.sg.

50 Year Loan Tenure ChannelNewsAsia 14/08/12 - featuring SmartLoans.sg video duration 1 Minute(s) 55 Second(s), published by Vinod Nair on 20 08 2012 - 09:57:45.

Visit http://www.smartloans.sg to check all singapore home loan rates online
All rights belong to Mediacorp
SINGAPORE: Longer mortgage tenures could have KXAN did some research when lenders starting announcing their 50 year mortgage some years back
This is a news cast that they broadcast about the .

FederalMortgageServices.com Is a 40 to 50 Year Home Loan Term a Good Idea With the price of a home in the hundreds of thousands of dollars, taking on a A 40-year home loan may offer smaller monthly repayments but will cost you thousands in extra interest compared to a shorter term loan, warns Peter Arnold,

Visit http://www.smartloans.sg to check all singapore home loan rates online.

All rights belong to Mediacorp.

SINGAPORE: Longer mortgage tenures could have adverse implications for the property market, borrowers and banks if it becomes more widespread.

Deputy Prime Minister Tharman Shanmugaratnam gave the assessment in a written reply to Parliament on Monday.

He added that the government will continue to closely monitor the property market.

Stretching a home loan out over 50 years does translate to a lower monthly instalment. But this is just an illusion of affordability.

Mr Tharman said that the borrower ends up paying more interest. The repayment period could also stretch past the retirement age, when the borrower may no longer have a steady income stream.

According to analysts, the higher interest rate on a longer term loan would mean that loan repayment can be easily be 20 per cent more in the long run, compared to taking a 30-year loan.

The government said it will monitor mortgage tenure in the context of how banks structure their mortgage products, as well as banks' underwriting standards.

Still, analysts said the government is wary such loans could fuel speculative buying and undo its efforts to cool the property market.

Alfred Chan, director, Financial Institutions, Fitch Ratings, said: \