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I wld like to ask, would the bank be more generous in computing (and granting) the in-principal approval of my loan application (for new property) if I produce a copy of the OTP duly exercised by buyer of my existing property? Tks.
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2 Answers

Kelvin Chng 庄锦辉
Replied
Hi Mano,

Sometimes it will be better to go through those mortgage brokering firm because most of the time they will be able to negotiate a higher loan amount for you, and on top of that they can also advise you on the best package in the market. One of the firm that I use is mortgage premier, which was set up by ex bankers. They guy that I usually contact is Marc (90488433  ). Hope that helps.

Cheers

Kelvin
Huttons
 81381050  Read More
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  • WC
    Replied
    hi,

    thanks for ur reply. i'm aware of the existence of mortagage brokers & the advantage(s) that accompany their use as opposed to approaching the banks direct.

    however, the context of my qn really is to know, is there a better chance of obtaining a higher loan with a (signed) OTP doc?

    thanks.
TC Tan
Replied
Hi Mano,

The answer is probably YES. I have a case where I represent my owner selling his pte condo while helping to search to buy a landed house. Before buying, I have suggested that he does a AIP on bank loan on his next purchase. I explained the selling + buying process with my banker friend and the loan amount and tenure is more relaxed usually for a case involving selling property for the sales proceeds for the next purchase.

Do call me 9876 5130  if I could help.

Thanks.

TC Tan
Group Director
DWG
 9876 5130 
dennisweeagent@yahoo.com.sg Read More
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  • WC
    Replied
    Thanks for the advice and sharing of experience, Mr Tan.

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