Do I borrow in Australia or Singapore? **Updated October 2017**
Do I borrow in Australia or Singapore? This is a question I get asked daily.
I recently spoke at an Australian property event (PropertyGuru Singapore) very much about this exact topic on the differences between the two banking systems when it comes to Aussie home lending.
Lets look at some key mortgage differences between both countries.
Australia based lenders:
Sophisticated mortgage products, Fixed & Variable rates
100% offset accounts
Full internet banking
No TDSR assessment applied
Redraw easily available
Lending still available to Aus Citizens and Aus PR’s
Cash out for refinances is possible
Lending assessment polices have tightened in 2017
Singapore based lenders:
****The good….well there isn’t any…(October 2017)***
All Australian lenders have now withdrawn from lending in Singapore for Australian property.
If you’re impacted by your bank no longer lending, we can help you.
We suggest comparing options from a bank that will not only accept your Singapore income, BUT offers a deal that’s right for your circumstances.
One things for certain, your own bank, regardless of where they’re located , wont be able to explain if another bank has a better deal.
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