loan in singapore for foreigner
Posted by wrherogos8 on Monday, September 24, 2012
According to a survey
report, nearly 30% foreigners in Singapore take up permanent residence.
These statistics are increasing rapidly due to this country's favorable
condition for starting new businesses. Why this country is getting more
and more traffic day-by-day? Its captivating attractions, favorable warm
tropical and sunny climate and most importantly its economy which is
climbing pretty fast due to large number of foreigner's investments are
the secrets behind its increasing traffic. As per 2010 economy
statistics, Singapore has the fastest growing economy in the world with a
growth rate of 17.9%. key demographic trends, in 2010 Singapore's total
population was 5.08 million in which 131 million are non-resident
foreigners. Now, many non-resident foreigners are looking for home loan
in Singapore but are facing many difficulties due to bank's complicated
terms and conditions.Usually, a foreigner can avail home loan only up to
70 to 80% from major banks or financial institutions. If you are
looking for some competitive home loan then it's important to get
assistance from an expert mortgage consultant because apart from
availing a best loan you might also have many difficulties while looking
for favorable options to purchase a residential property in this
country.Why it's difficult for a foreigner to purchase residential
property in Singapore? Under the Residential property act, a foreign
person is termed as any person who is not a citizen or any permanent
resident. Moreover, a permanent resident is also termed as a foreigner
under this act. But still, a foreigner can purchase a residential
property under some criteria.Here are some important obstacles you need
to face while looking for residential property:If you need to buy a
restricted property like landed properties or vacant lands then you need
to get prior approval from Singapore Land Authority before buying.This
approval process consists of many steps like downloading applications
and submitting it.Besides, while submitting the application you need to
attach the required documents too.For more info,Please visit loan in singapore for foreigner All
these complicated approval process might be a time consuming and
frustrating for you. So, it's essential to choose a professional
mortgage consultant who might be able to guide you properly to avail a
home loan and residential property without any difficulty.Importance of
mortgage consultant while looking for home loan:- With his up-to-date
knowledge about the real estate trends, an expert mortgage consultant
can help you to pick the best loan- Will assist you in collecting the
required documents and submitting the applications- Offers suggestion
and guidelines to get loan in time- Resolves complex situations without
any further complicationsAll these benefits pinpoint the important of a
mortgage consultant. So, pick the best mortgage consultant and get a
competitive home loan without facing any difficulty.For more information
on this field see here