UOB Promotion 3-Months SOR Mortgage Package

UOB has this promotion mortgage financing package based on 3-months Swap Offer Rate.

Swap Offer Rate is SIBOR plus lending costs incurred by the banks. SIBOR is the inter-bank lending rate in Singapore.

The daily SIBOR and SOR can be referred here at http://ttg.channelnewsasia.com/intv5/483.gif.

The UOB loan package works like this:

Year 1: 3-mth SOR plus 0.65% (current rate: 1.25% at date of post)

Year 2: 3-mth SOR plus 0.85% (current rate: 1.45% at date of post)

Year 3: 3-mth SOR plus 1.25 1.50% (current rate: 1.85 2.10% at date of post)

Other Features:

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  Lock-In of 2 years
• 
  
  Min loan amount of 200,000
• 
  
  1.5% penalty on pre-payment and full redemption
• 
  
  Legal subsidy: 0.4% of loan amount (capped at $2,000) to be refunded if loan is redeemed within 3 yrs from 1st loan disbursement date