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  • Why a Foreigner Takes a Mortgage Consultant to Get a Home Loan in Singapore

    Why a Foreigner Takes a Mortgage Consultant to Get a Home Loan in Singapore

    According to a survey report, nearly 30% foreigners in Singapore occupy permanent residence. These statistics are increasing rapidly for this reason country's favorable condition for starting new businesses. Why this country gets 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 many foreigner's investments are the secrets behind its increasing traffic. According to 2010 economy statistics, Singapore has the fastest growing economy on the planet having a growth rate of 17.9%.

    According to key demographic trends, this year Singapore's total population was 5.08 million in which 131 million are non-resident foreigners. Now, many non-resident foreigners are searching for mortgage loan in Singapore but are facing many difficulties because of bank's complicated terms and conditions.

    Usually, a foreigner can avail home loan only as much as 70 to 80% from major banks or banking institutions. Should you be looking for some competitive mortgage loan then it's vital that you get assistance from a specialist mortgage consultant because apart from availing a best loan you might also have many difficulties acquire the best for favorable options to purchase a house within this country.

    Why it's tough for any foreigner to buy residential property in Singapore? Under the House act, an overseas body's referred to as any person who is not a citizen or any permanent resident. Moreover, a lasting resident can also be referred to as a foreigner under this act. But nonetheless, a foreigner can purchase a residential property under some criteria.

    Singapore home loans

    Here are a few important obstacles you have to face while looking for house:

    If you need to buy a restricted property like landed properties or vacant lands you will want to obtain 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 applying you have to attach the necessary documents too.

    All these complicated approval process may well be a time consuming and frustrating for you. So, it's important to select a professional mortgage consultant who might be able to show you properly to avail a mortgage and residential property with no difficulty.

    Need for mortgage consultant acquire the best for mortgage loan:

    - With his up-to-date knowledge about real estate trends, an expert mortgage consultant can help you to pick the right loan

    - Will assist you in collecting the necessary documents and submitting the applications

    - Offers suggestion and guidelines to get loan over time

    - Resolves complex situations with no further complications

    Each one of these benefits target the important of a mortgage consultant. So, pick the right mortgage consultant and obtain a competitive mortgage loan without facing any difficulty.

    Added by Caleb & Ortiz on Wed, Aug 1st 2012