Hong Leong Finance Home Loans

Hong Leong Finance Home Loan Rates (June 2024)
(Product Review)

Updated June 17, 2024

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Current Hong Leong Finance Mortgage Rates

Today's Hong Leong Finance mortgage interest rate trends in Singapore - As of Monday, June 17th, 2024, Hong Leong Finance’s interest rates for financing a 30-year fixed home loan stands at 3.8% for private properties and 3.08% for HDB’s. In terms of floating rates, Hong Leong Finance’s lowest interest rate for private property mortgages stands at 4.4% and 4.35% for HDB’s.

Product Review

Hong Leong Finance ( popularly known as HLF or the company), established in 1961, has evolved and become Singapore’s top finance company with an extensive network of 28 functional branches. It holds the ‘best performing bank in Singapore’ ranking and is also among the ‘top 100 ASEAN banks’. In 2021, HLF was ranked among the ‘top 1000 world banks’ in the Banker. The Banker is an international publication operated by the Financial Times Ltd. In 1974, HLF was listed on the Singapore Stock Exchange as Singapore Finance Ltd and; it is managing the financial services of the Hong Leong Group in Singapore.

HLF actively offers corporate and personal loans, government assistance for SMEs( Small and Medium Enterprises), corporate finance and advisory services.

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The company also provides HDB and private property loans to individuals. It has competitive mortgage options compared to other banks. Clients can stretch their loans for 35 years or until the borrower becomes 70 years. It also offers a wide range of mortgage plans tailored to suit the client’s needs. However, HLF’s interest on long-term home loans is high.

Hong Leong Finance, grants fixed-rate mortgages and floating rate mortgages to HDB build-to-other (BTO) flats and regular HDB flats. Fixed-rate mortgages have a specific interest rate during their lifespan. It helps borrowers to enjoy steady monthly installments. At the end of its lifespan, the loan adopts a floating rate which is tied to the HDB home Rate (HHR). Hong Leong Finance has fixed rate home loan packages that are up to 3 years.

Applicable Hong Leong Finance’s Mortgage Fees

There are currently no applicable fees on the company’s website. So, study the mortgage fees in the agreement form before proceeding. Most banks demand a processing fee and partial recovery fee of 1-2%. Other standard charges like the cancellation and full redemption fees also apply.

Hong Leong Finance HBD Mortgage Rates

HLF HDB loans have a longer duration of about 5 years when compared to regular home loans. Its loans have a lifespan of 35 years or till the borrower becomes 70 years old. It also offers a bridging loan for new homeowners of HDB flats which helps with the first deposit. This is favourable when you are waiting for the earnings from your previous home. Nonetheless, HLF’s fixed rate and floating rates are slightly higher than its competitors because of the 2.2% p.a. that is added after the introductory interest rates.

  • Fixed Rates
  • Floating Rates
Bank Scheme Lock In Period 1st Yr Interest 2nd Yr 3rd Yr 4th Yr
Hong Leong Finance 2 Year Fixed 2 years 3.08% 3.08% 4.35% 4.35%
Hong Leong Finance 2 Year Fixed 2 years 3.28% 3.28% 4.35% 4.35%
Hong Leong Finance 1 Year Fixed 2 years 3.68% 4.28% 4.35% 4.35%
Hong Leong Finance 1 Year Fixed 2 years 3.98% 4.28% 4.35% 4.35%
Bank Scheme Lock In Period 1st Yr Interest 2nd Yr 3rd Yr 4th Yr
Hong Leong Finance Board Rate 2 years 4.35% 4.35% 4.35% 4.35%

*Today's Mortgage Rates - 16 June 2024

Hong Leong Finance Private Property Mortgage Rates

Hong Leong offers attractive introductory interest rates for fixed and floating home loans. However, their total loan cost is expensive because of the inflated average interest rate added after some time. HLF’s current interest rates are listed below :

  • Fixed Rates
  • Floating Rates
Bank Scheme Lock In Period 1st Yr Interest 2nd Yr 3rd Yr 4th Yr
Hong Leong Finance 2 Year Fixed 2 years 3.80% 3.80% 4.45% 4.45%
Hong Leong Finance 3 Year Fixed 3 years 3.95% 3.95% 3.95% 4.45%
Bank Scheme Lock In Period 1st Yr Interest 2nd Yr 3rd Yr 4th Yr
Hong Leong Finance Board Rate 2 years 4.40% 4.00% 4.45% 4.45%

*Today's Mortgage Rates - 16 June 2024

HONG LEONG FINANCE MORTGAGE CALCULATOR

PROMOTIONS

APPLICATION PROCESS

  • Launch Application via the ROSHI Marketplace

    Once your application is live you will be able to review suitable loan options on your dashboard. One of our mortgage brokers will follow up with you to discuss the best available options and next steps.

  • Choose Suitable Mortgage Option

    After you’ve decided on a preferred mortgage option one of our mortgage brokers will help process your application.

  • Settle Fees & Charges

    Settle all fees (option fee, option exercise fee to the seller as well as the relevant buyer’s stamp duty fee in case you are purchasing a private property).

  • Appointment Date & Signing

    Attent your property purchase appointment date and sign all legal documents for the transfer of the property, paying all legal and valuation fees.

PRODUCT HIGHLIGHTS

  • Longer Lifespan of Mortgage

    Ideal for Individuals interested in longer loan duration

  • Expensive Rates

    Unsuitable for Individuals interested in comfortable total home loan costs

Features of hlf home loans
  • Introductory HDB loan interest rates of 1.45% p.a.
  • Floating rate packages at 1.40% p.a. and above
  • Long loan tenures of 35 years or before borrowers are 70 years old
  • Bridging loan plan

EXTERNAL REVIEWS

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