Get Yourself a Special Loan When You are AbroadPosted by Steve Fox on February 22nd, 2016 According to key demographic trends, in 2010 Singapore's total population was 5.08 million in which 131 million are non-resident foreigners. Now, lots of non-resident foreigners are looking for foreigner loan but are facing lots of 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. In case you are looking for some competitive home loan then it is important to get assistance from an professional mortgage consultant because apart from availing a best loan you might also have lots of difficulties while looking for favorable options to buy a residential property in this country. Why it is difficult for a foreigner to buy residential property in Singapore? Under the Residential property act, a foreign person is termed as any that 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 require to face while looking for residential property: In case you require to buy a restricted property like landed properties or vacant lands then you require to get prior approval from Singapore Land Authority before purchasing. This approval technique consists of lots of steps like downloading applications and submitting it. Besides, while submitting the application you require to attach the necessary documents . All these complicated approval technique might be a time consuming and frustrating for you. So, it is essential to pick 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: Like it? Share it! More by this author |