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Colin Lim

Colin Lim

Colin began his career as an engineer with a manufacturing firm. After honing his analytical skills, he moved into finance where, during his time with two major foreign banks, he worked as a mortgage banker and a relationship manager that specialised in wealth management. He currently oversees a team of mortgage advisors and has helped homeowners finance more than a total of SGD$1 billion worth of property.

Understanding The Basics of Financing Your Home Loan

Thinking of purchasing your first home? Purchasing a property is a significant financial decision. It is important to plan your finances and budget before commencing your property search. Understanding the foundations of getting a mortgage can help you move through the process of financing your home loan with confidence, making decisions that are well-informed and setting yourself up for a successful home purchase. There are several ways to finance your home: cash and CPF (Ordinary Account) savings, housing loan and

Colin Lim October 25, 2023

National Day Rally 2023: HDB Flats – What has changed?

Prime Minister Lee has announced a change in classification of HDB flats at the 2023 National Day Rally held on 20 August. After PM Lee’s speech, this new form of categorisation has been widely discussed. The words ‘Prime’, ‘Plus’ and ‘Standard’ have been the main subject of discussion popping up amongst Singaporeans’ conversations this past week. So, what exactly are the changes to HDB? What are the major changes? With more than 80% of the population living in HDB flats,

Colin Lim August 26, 2023

5 Things to know before applying for PHG (Proximity Housing Grant)

Has a resale HDB flat caught your eye? As our society’s demographics shift to favor smaller family sizes, married couples often seek to set up their own nests and purchase housing properties of their own. Gone are the times where multiple families stay under the same roof. Yet, many still favor living near their parents – close proximity offers convenience to visit them for filial piety or even to drop by for a meal now and then. As such, there

Colin Lim May 4, 2023

Budget 2023: Property Outlook In View Of The Increase In Buyer’s Stamp Duty

With effect from 15 February 2023, the Government announced in as part of Budget 2023 that Buyer’s Stamp Duty for both higher-value residential and non-residential properties will be increased. This measure reflects the government’s commitment to ensure affordable housing by enhancing the progressivity of the Buyer’s Stamp Duty regime. Additionally, the revised Buyer’s Stamp Duty regime is estimated to garner an additional $500 million in revenue per year, though the exact revenue will be dependent on the property market. Buyer’s

Colin Lim April 28, 2023

Guide to Achieving the Singaporean Dream: Purchasing Your First HDB Resale Flat

Whether you’re a newly wedded couple who isn’t keen to wait for your BTO, a retiree couple or a single individual looking for your first home, the HDB resale market has a variety of housing options to offer you. Purchasing properties involves complex paperwork and some hidden costs. So, here’s a complete guide for your HDB resale journey. 1. Understanding the timeline Here’s a quick rundown of the key periods to purchase your resale HDB. As shown, it should take

Colin Lim October 26, 2022

How You Should Use Your CPF To Pay For Your Home Loan

One of the most common mistakes is the lack of understanding on how you can maximise the usage of your CPF accounts to repay your home loans. We want to share an insight on how you can have a comfortable retirement plan while maximising your CPF savings to repay your home loan. With his expertise as a mortgage banker and relationship manager specializing in wealth management in two major foreign banks, Colin Lim has helped homeowners finance more than SGD$1

Colin Lim April 27, 2022

How much should I borrow for my property?

Choosing a suitable and affordable mortgage loan is crucial in the process of buying a property. After all, it would impact up to 30 years of your life and could end up being a financial burden if not managed well. Yet, many overlook its importance amidst the flurry of hunting for the perfect property and numerous legal procedures to adhere to. Here are some guidelines when deciding on how much to borrow. Down payment A key consideration for most is

Colin Lim March 9, 2022

Would the Property Cooling Measures in 2021 Affect You?

Following the announcement of cooling measures for the property market, the shares of many property firms have fallen. But is there really a cause for concern for buyers like you? Or are the cooling measures likely to just have a short-term impact on our property market? This article dissects the 3 main cooling measures that would affect you and predicts who it would have the heaviest impact on. 1. Hike in Additional Buyer Stamp Duty (ABSD) rates If you are

Colin Lim December 17, 2021

All good things come to an end: Singapore’s first private leasehold returned

There is a common phrase that reverberates throughout many Singaporeans, “unless you actually own a freehold estate, you are always a lessee to the government”. By legal definitions, this statement is unfounded given that one does actually hold both equitable and legal interests in the land for the entire duration of the lease, be it 60 years, 99 years or 999 years. On legal papers, it is recognized that the purchase of the property is the actual owner. However, when

Colin Lim October 27, 2021

8 Ways to Spot a Lousy Mortgage Broker

Moving into a new home is one of the most transformative stages in many of our lives. It is the manifestation of countless sacrifices, multiple viewings, negotiations, discussions with family members and a step forward in our journey. You have worked so hard to get there, surely you deserve a break? But no. Nothing truly prepares you for the less glamorous, often under-whelming and exhausting stage ahead. No, it is not having to pack and unpack your entire life in

Colin Lim June 16, 2021