According to a survey report, nearly 30% foreigners in Singapore take up permanent residence. These statistics are increasing rapidly due to this country’s favorable condition for starting new businesses. Why this country gets 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 due to large amount of foreigner’s investments will be the secrets behind its increasing traffic. According to 2010 economy statistics, Singapore has 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 in which 131 million are non-resident foreigners. Now, many non-resident foreigners are searching for home loan in Singapore but are facing many difficulties due to 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 should be looking for some competitive home loan then it’s important to obtain assistance from a specialist mortgage money lender open on Sunday consultant because besides availing a best loan you might also have many difficulties while looking for favorable options to get a residential property in this country.
Why it’s difficult for a foreigner to get residential property in Singapore? Beneath the Residential property act, a foreign person is termed as any person who’s not a citizen or any permanent resident. Moreover, a permanent resident can be termed as a foreigner under this act. But still, a foreigner should buy a residential property under some criteria.
Here are some important obstacles you’ll need to handle while looking for residential property:
If you need to buy a restricted property like landed properties or vacant lands then you have to get prior approval from Singapore Land Authority before buying.
This approval process consists of many steps like downloading applications and submitting it.
Besides, while submitting the applying you’ll need to attach the necessary documents too.
Every one of these complicated approval process might be considered a frustrating and frustrating for you. So, it’s essential to select a professional mortgage consultant who might be able to guide you properly to avail a house loan and residential property without the difficulty.
Importance of mortgage consultant while looking for home loan:
– Along with his up-to-date knowledge about the real estate trends, a specialist mortgage consultant can help you to pick the best loan
– Will assist you in collecting the necessary documents and submitting the applications
– Offers suggestion and guidelines to obtain loan in time
– Resolves complex situations without the further complications
Every one of these benefits pinpoint the important of a mortgage consultant. So, pick the best mortgage consultant and get a competitive home loan without facing any difficulty.