HLF offers new loan packages for HDB flat buyers

HDB flat buyers can look forward to new loan packages from Hong Leong Finance (HLF).

It is offering variable rates at 1.33 per cent per annum for the first year, or a two-year fixed rate from 1.63 per cent per annum, for financing of up to 80 per cent.

Rates for smaller loans have also been revised. For loans below $100,000, with financing of up to 80 per cent, the first-year variable rate starts at 1.93 per cent per annum, and the two-year fixed rate at 2.33 per cent per annum.

The new deals come soon after HLF announced packages for Good Class Bungalows and other loans this year.

The company says its rates are currently the lowest in the market.

‘We have received more enquiries for our HDB home loans,’ said HLF president Ian Mcdonald. ‘This is in line with increased activity in the HDB market for new and resale flats.

‘We anticipate continued growth of our HDB home loans portfolio next year, boosted in part by the HDB’s plans to launch at least one build-to-order (BTO) project per month to meet housing demand.’

Earlier this week, HDB announced a 25 per cent increase in supply of BTO flats, bringing flat supply to 13,500 units this year.

HLF said its customers will receive a $20 Millennium & Copthorne International hotels gift voucher for every $100,000 loan.

HLF is Singapore’s largest finance company. Established in the 1960s, it has 28 branches locally.

Source: Business Times, 19 Dec 2009