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PropertyGuru Tackles Top Home Loan Refinancing Misconceptions Among Singaporeans in New Research
PropertyGuru Tackles Top Home Loan Refinancing Misconceptions Among Singaporeans in New Research
45% of Singaporeans feel unwise to refinance within lock-in period, a top home loan misconception hampering opportunities to save money
SINGAPORE – Media OutReach – 18 January 2021 – PropertyGuru Group, (“PropertyGuru” or the “Group”), Asia’s leading property technology company, today revealed Singaporeans’ top misconceptions around home loan refinancing, according to new research conducted between 23 October to 30 November last year.
When asked for the reasons for not refinancing their home loans, the research identified that 45% of Singaporeans feel that refinancing their mortgage during their lock-in period is an unwise decision, 34% perceive that a lot of effort is involved to refinance their mortgages, while 21% brought up the need to pay thousands of dollars