According to a survey report, nearly 30% foreigners in Singapore use 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 of all its economy which is climbing pretty fast because of large amount of foreigner’s investments will be the secrets behind its increasing traffic. As per 2010 economy statistics, Singapore gets the fastest growing economy on the planet with a growth rate of 17.9%.
According to key demographic trends, in 2010 Singapore’s total population was 5.08 million where 131 million are non-resident foreigners. Now, many non-resident foreigners are seeking home loan in Singapore but are facing many difficulties because of bank’s complicated terms and conditions.
Usually, a foreigner can avail home loan only around 70 to 80% from major banks or financial institutions. If you are looking for some competitive home loan then it’s important to obtain assistance from an expert mortgage consultant because apart from availing a most useful loan you could also have many difficulties while looking for favorable options to purchase a residential property in this country.
Why it’s burdensome for a foreigner to purchase residential property in Singapore? Beneath the Residential property act, a foreign person is termed as any person who is not a citizen or any permanent resident. Moreover, a lasting resident is also termed as a foreigner under this act. But still, a foreigner can purchase a residential property under some criteria.
Below are a few important obstacles you need to manage while looking for residential property:
If you want to get a restricted property like landed properties or vacant lands then you definitely want to get prior approval from best loan in Singapore Land Authority before buying.
This approval process consists of many steps like downloading applications and submitting it.
Besides, while submitting the applying you need to attach the necessary documents too.
Each one of these complicated approval process might be a frustrating and frustrating for you. So, it’s essential to decide on an expert mortgage consultant who might be able to guide you properly to avail a home loan and residential property without the difficulty.
Importance of mortgage consultant while looking for home loan:
– Together with his up-to-date understanding of the actual estate trends, an expert mortgage consultant can help you to pick the most effective loan
– Will assist you in collecting the necessary documents and submitting the applications
– Offers suggestion and guidelines to obtain loan with time
– Resolves complex situations without the further complications
Each one of these benefits pinpoint the important of a mortgage consultant. So, pick the most effective mortgage consultant and get yourself a competitive home loan without facing any difficulty.