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Now this is an interesting topic.. Geylang! It's known as the red-light district of Singapore and you may have heard it, most banks do not provide a mortgage for residential properties in Geylang.
This could be a complicated matter. We need to know the Lorong numbers and determine if it's even or odd. In case you are new in Singapore, even numbered Lorongs certainly is more colorful, so obtaining a home loan could be tricky. If the property is a new launch, some banks may provide mortgages but it also depends whether the exposure by the bank has reached its quota. Yes, there is a QUOTA for each property for some banks.
Before you eye that 'red' property, make sure you know which banks provide home loans for Geylang properties and as always, obtain approval in-principle. And to be really cock-sure, check with the mortgage consultants at FindaHomeLoan.sg!
Click here to read more on obtaining mortgages for properties in Geylang.
This could be a complicated matter. We need to know the Lorong numbers and determine if it's even or odd. In case you are new in Singapore, even numbered Lorongs certainly is more colorful, so obtaining a home loan could be tricky. If the property is a new launch, some banks may provide mortgages but it also depends whether the exposure by the bank has reached its quota. Yes, there is a QUOTA for each property for some banks.
Before you eye that 'red' property, make sure you know which banks provide home loans for Geylang properties and as always, obtain approval in-principle. And to be really cock-sure, check with the mortgage consultants at FindaHomeLoan.sg!
Click here to read more on obtaining mortgages for properties in Geylang.