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Case Studies

Loan Rejects

Home | Years in Property | SOUL (BELIEVE IT OR NOT) | Writing | Roots of all EVIL | MC | Late Submission | Entertainment | FreeWorkshop | Loan Rejects | New Rules | Condo Defects | 33 Conditions of Sale 1999 | Area Shortage | Lawyers Cannots | Foreigners/PR Seekers | Illegal Addition/ Alteration | Caveat | Maintenace Fee | Flat-seller Died | Forged Signature | Market Prices Went Up! | Agents jailed | Agents Awarded Double | Cheque Bounced | Verify Ownership | Malaysia | Thailand | CheckList | EnBloc | Option To Purchase | Australian Properties



Do not assume that the HDB or the Private Bank will provide you with the loan just because you think you have obtained verbal approval!  They may reject you for many reasons later!


Especially for purchase of HDB flat, the safest way is to go down personally to HDB to get it assessed and obtain an in-principle approval print out!


Similarly, for purchase of private property, it is best to get an in-principle approval from the bank before you sign any Option to Purchase!  However, most banks will not provide free assessment unless you already have a copy of the Option to Purchase. Get your agents to assist you! Their associate bankers can grant you an in-principle approval with no obligation that you must purchase the said property!

From 1 Jan 2007, HDB will require all potential flat buyers and transferees who wish to get an HDB concessionary loan to first obtain an HDB Loan Eligibility (HLE) letter. This HLE letter must be obtained before committing to the purchase or transfer of a flat. This will provide prior information on your loan eligibility quantum and monthly instalment to ensure you are able to pay for your home and service the loan without overstretching your finances.

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