Private Sector Loan Application

A panel of end-financiers have been appointed to provide loans to those who qualify. Still, the final decision lies with you as you are free to choose any end-financier of your choice. However, to avoid delay in loan processing, we suggest you use our panel of end-financiers. If you require our assistance to apply for a loan, you must forward the following:

  • Original copy of the Sale and Purchase Agreement
  • Copy of the title deed if available
  • Photocopy of your IC
  • A copy of your last 3 month’s 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.
  • The Letter of Offer fully signed by you as acceptance of the offer and returned to the end-financier with a copy to the developer.
  • End-financier’s letter of instruction to their solicitor to prepare the loan document which may be either:
    • 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 loan documents at solicitor’s office.
  • Loan documents forwarded to end-financier for execution.
  • Loan documents returned to solicitors who will forward to developer for execution of Memorandum of Transfer.
  • Executed loan documents returned to solicitor for stamping and registration. Stamped loan documents forwarded to end-financier for safe keeping. A copy each is given to purchaser and developer.
  • End-financier will release payments to developer progressively in accordance to the Third Schedule of the Sale and Purchase Agreement upon receipt of our invoice.

 


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