Guidelines

Private Sector Loan Application

We have, on our end here appointed a panel of end-financiers for your convenience. The decision however still lies with you, as you are free to choose the end financier of your choice. We recommend, however that in order the expedite the loan application process, you use any of our end-financiers and if you wish to do so, you would need to forward the following:

  • Original copy of the Sales and Purchase Agreement
  • Copy of the title deed if available
  • Photocopy of your IC
  • A copy of your last 3 months pay or your last 6 month's bank statement (if self-employed)
  • Letter of confirmation on income and years of service from your employer
  • A copy of Income Tax Return/EA form for the past 3 years
Sequence of Loan Processing
  • Submission of loan application form with the necessary documents
  • Interview by end-financier
  • Letter of Offer upon approval from end-financier
  • Letter of Offer duly signed by you as acceptance of the offer and returned to the end-financier with a copy to the developer
  • End-financiers letter of instruction to their solicitor to prepare the loan document which may either be:
    • Deed of Assignment and Loan Arrangement (for Strata Units); or
    • Memorandum of Transfer Form 14A and Charge Form (Landed Units with individual titles)
  • Letter from end-financier advising you to execute the loan documents at the solicitor's office
  • Loan documents forwarded to end-financier for execution
  • Loan documents returned to solicitors who will then forwards to the developer forthe execution of Memorandum of Transfer
  • Executed loan documents returned to solicitor for stamping and registrationStamped loan documents forwarded to end-financier for safekeeping. A copy each is given to the purchaser and developer
  • End-financier will release payment to developer progressively in accordance to the Third Schedule of the Sale and Purchase Agreement upon receipt of our invoice.