In view of the outbreak of Coronavirus disease aka COVID-19, our Singapore Government has implemented different measures and regulations in the hopes of flattening the curve and reducing the number of cases per day.
On our part, our Firm has also put in place some precautionary measures in the office to ensure the well-being of our staff and clients.
Those precautionary measures include:
- Taking of temperature of our staff twice a day;
- Daily disinfecting and cleaning of the office (even our Managing Director puts on her apron over her power suit and does her cleaning duty every Friday);
- Minimizing the physical interaction with our clients by doing video-conferencing where possible;
- Having staggered working hours for our staff;
- Maintaining social distancing of at least 1m between our staff’s work station;
- Placing a few bottles of hand sanitizer throughout the office for our staff and our clients to use.
While countries around the world are trying their best to control the spread of COVID-19, there is, unfortunately, a huge negative impact on global economies and that includes Singapore as well. Besides the various Budgets that Singapore has come out with to assist Singaporeans cope with these difficult times, we also have to find other ways to reduce any liabilities/encumbrances that we might have at the moment.
For example, as far as property loans are concerned, banks have reduced their mortgage loan rates so as to encourage people to refinance from a higher interest rate package to a lower interest rate package. Due to the fall in the interest rate (“the lending rate”), the savings are passed onto the Borrower. The Borrower will therefore enjoy much-needed financial relief.
Apart from providing conveyancing services such as sale and purchase of HDB, private residential, commercial and industrial properties, our Firm also handles refinancing matter.
If you would like to find out more on how you can refinance your mortgage loan, please do give us a call for advice and we would be most happy to chat with you.
Last but not least, Practise Social Distancing and Stay Safe.