Have you thought of how your private or commercial property can get you cash?
Tap the enhanced value of your property to make the most of it.
As you repay your mortgage, you will gradually build up equity in your property. An increase in your property value can also increase the equity that you can take advantage of. You can borrow against that equity when you need cash, using a term loan, an overdraft (for commercial property only) or a combination of both.
Property equity financing enables you to obtain funds to meet your financial needs and goals. By tapping the equity in your property, you can take advantage of lower interest rates and use the money for whatever needs that arise.
Property equity term loans give you cash in a single upfront payment. You can manage your finances with more certainty as you can repay the term loan on a monthly basis, comprising the loan principal and interest. If you know exactly how much you need to borrow, a property equity term loan may be the best option.
Property equity overdrafts (for commercial property only) allow you to have cash on standby and you can draw down the standby cash as and when you need to, up to a maximum overall facility limit. You pay interest only on what you actually draw down. You also decide how much loan principal to repay at any time, without worrying about penalty fees.
Illustration of 3-Month Compounded SORA The 3-Month Compounded SORA is updated every 3 months.
D% and E% are 3-Month Compounded* SORA published by MAS on 4 Mar 2021 and 4 Jun 2021 respectively.
Find out more on how SORA works here
*Further reading material on use of SORA in financial contracts:
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Welcome to the new UOB 3-Month compounded SORA Home Loan package that gives you better control of your finances.
| UOB 3-Month Compounded SORA Home Loan | |
| Year 1 | 3M Compounded SORA + 1.25% p.a. |
| Year 2 | 3M Compounded SORA + 1.25% p.a. |
| Thereafter | 3M Compounded SORA + 1.40% p.a. |
| Lock in Period | 1 year |
| Partial Prepayment during lock-in | Flexibility to prepay. T&Cs apply. |
| Rate Refresh | Every 3 months |
| Free Conversion | 1 free conversion after lock in |
| Legal subsidy | For refinancing only, 0.4% of loan amount capped at $1,800, subject to 3 year clawback. |
3M Compounded SORA refers to the 3-month Compounded SORA that is published on MAS’ website. It is currently at 0.12% p.a. (as at 15 Dec 2020). Find out more on SORA.
Submit your loan application online now and our banker will be in touch with you to share more about the 3-Month compounded SORA Home Loan package.
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This publication is strictly for information purposes only and shall not be transmitted, disclosed, copied or relied upon by any person for whatever purpose. This publication is not an offer, recommendation, solicitation or advice to buy or sell any investment product. Nothing in this document constitutes accounting, legal, regulatory, tax, financial or other advice. You should consult your own professional advisors about issues discussed herein. While the information provided in this publication is believed to be accurate as at the date of publishing, UOB makes no representation or warranty, and accepts no responsibility or liability for its completeness or accuracy.
