Investing in a commercial real estate property in Singapore is one of the rare privileges many people would love to have. Of course, your finances is the first thing you need to assess before you make that valuable investment.
Purchasing your new commercial real estate property in Singapore without relying on a cost effective loan can indeed be challenging. Don’t delay in making the right decision. Choose one of these Singapore commercial property loans that’ll let you maximise growth and satisfaction, all in one package.
Finance through Variable Board Rate
Variable board rate should be the most feasible loan if tight finances is a primary concern for you. Before you sign your variable board loan contract, the lender will guarantee a fixed interest rate for a certain period of time. You’ll have ample time to work on your budget as you pay interest rates in accordance to your financial capabilities.
You need to ensure your finance’s security, though, after the initial variable rate contract expires. You may need to pay higher interest rates once you renew your variable contract.
It’s always better to be safe than sorry. Don’t risk losing your beloved commercial property after you’ve already invested a lot on it. Enlist the help of a competent property accountant, if there will be a need to do so. This will better determine if a variable rate loan will bring investment prosperity in the long run.
Bank-to-Bank SIBOR Rate
Avail of a great commercial property loan deal as it becomes available. Singapore’s SIBOR rate is the main borrowing rate that prevails between banks in the country. There are times that a third party bank’s commercial property loan is more cost effective, compared to its counterparts.
Know what’s in store for your commercial property investment venture in the long run. Don’t be afraid to show the inquisitive side of you. Never hesitate to approach a bank customer service representative to know more about SIBOR rates. After all, minimising expenses and generating more profits should be your primary investment goal in the first place.
The Advantageous Fixed Purchase and Interest Rate
A fixed interest rate is the most common loan package in Singapore and other parts of the world, too. This loan may not be applicable to all commercial properties in the country, though. Conduct a thorough assessment of your commercial investment goals to determine if a fixed rate loan package is the one for you.
Consider “Fixed Interest Rate Only” Loan Package, Too
Unless you’ve got a sizable savings intended for commercial investment, you may want to think twice before you apply for this loan package. There’s no telling the amount of expenses you’ll incur if your property’s value increases after a certain period of time.
Safeguard your finances from possible future drastic losses. Bear this essential information in mind as you plan your new commercial investment in Singapore. Remember, a property investment is one of the valuable assets you need to treasure for the remaining years of your life.
