OCBC Bank (Malaysia) Berhad has expanded its Ringgit loan facility for residential properties in Singapore in line with its positioning to be a global Premier mortgage provider for overseas properties.
The bank already offers overseas financing in Australia and United Kingdom, and the Singapore financing facility is expected to be similarly well received by the bank’s premier ban king customers.
According to Charles Sik, Head of Consumer Financial Services, OCBC Bank: “The introduction of the OCBC Overseas Property Financing – Singapore is a natural progression of the facility since Asian investors have always had an eye for Singapore.“
According to research, the city-state has always been one of the top three choices for investors from Malaysia, Indonesia and Hong Kong.
He added: “We view this finding as fundamental to our decision to offer the OCBC Overseas Property Financing – Singapore scheme.”
The Singapore facility offers a margin of financing of up to 70 percent and a loan tenure of up to 35 years, or up to the time the borrower turns 70, whichever is earlier.
This article was written by Andrew Batt, International Group
Editor of PropertyGuru Group. To contact him about this or other stories
email andrew@propertyguru.com.sg
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