What Is a Home Mortgage Loan in Singapore?
A Home Mortgage Loan in Singapore allows property owners to use their property as collateral to access a larger loan amount, especially when bank loans are not suitable or when faster approval is required.
Approval is mainly based on property value and available equity, and may still be possible even with a poor credit history. This type of loan is commonly used to access urgent funds, restructure or consolidate existing debts, and improve cash flow through refinancing.
A home mortgage loan may be suitable if you:
- Have been rejected by banks
- Own a property with sufficient equity
- Need a large loan with minimal paperwork
- Require funds urgently
- Are a foreign national seeking a tailored solution
At Lending Bee®, we provide fast home mortgage loan and refinancing solutions in Singapore, with approval in as little as two weeks in many cases.
Benefits of a Property Mortgage Loan with Lending Bee®
Let us share the leverage our loan has over traditional lenders.
Credit score is of
lower priority
Flexible
loan tenures
Minimal paperwork &
fast approval
Increased
convenience
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Get an outcome on your application, including your eligible loan amount and repayment terms, in as little as 30 minutes.
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Visit any of our branches for identity verification and contract signing, then receive your loan disbursement promptly.
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FAQ on Lending Bee's Property Mortgage Loans
Frequently Asked Questions
How does a property mortgage loan work?
With a property mortgage loan, you can borrow a large sum of money to solve your financial issues.
Lending Bee® provides up to 60% equity-based lending against commercial and residential properties. We welcome almost all types of properties.
Our secured loan tenures lasts up to 15 years or more, and we are able to customise them according to your needs. We understand that everyone’s problems are different. Hence, we create flexible funding solutions personalised for you.
As our loans are privately funded, you can rest assure that we can provide a fast and efficient response. The approval process for a property mortgage loan is usually within 2 weeks.
Legal documentation for Lending Bee’s property mortgage loan will be handled by lawyers, providing 100% transparency.
How much can I borrow for a property mortgage loan?
There is no borrowing limit for a property mortgage loan. This is because it is a secured loan.
Should I consider a property mortgage loan?
A property mortgage loan will be suitable if you are looking for borrow a large sum of money fast, but has been turned away by traditional banks.
As this is a secured loan, there is no limit as to how much you can borrow.
This means that you will be able to solve all of your financial issues quickly without causing further strain on your monthly expenses. It is possible to borrow $1 million, $2 million or more.
A property mortgage loan is also suitable if you are looking for a complex loan with multiple pieces of collateral.
Is there a lock-in period for property mortgage loans?
No, there is no lock-in period for Lending Bee®’s property mortgage loan.
This means that partial prepayment or full redemption is allowed anytime, without any penalty.
Not to worry, no early repayment fees will be charged.
Do I need a good credit score for a property mortgage loan?
You do not need a good credit score to get a loan with us. We do not place a great emphasis on your credit score. As long as you have ample equity in your property, there is a high chance that we can approve your loan.
Lending Bee® provides more options for you other than traditional lenders. It’s an alternative.
Once your loan has been approved, your money can be disbursed within 24 hours. That’s how fast we work!
Who is eligible for a property mortgage loan?
To qualify for a property mortgage loan with Lending Bee®, you’ll simply have to:
- Be a Singapore Citizen, Permanent Resident or a Foreigner with a valid work permit
- Be at least 21 years old
- Be employed / self-employed
- Have ample equity in a property
What documents are required to obtain a property mortgage loan?
Minimal paperwork is needed.
For Singaporeans / PRs:
- Proof of identity (NRIC, passport)
- Proof of income (CPF / bank statements)
- Property deed
- Work Permit / S Pass / E Pass
- Proof of residence (Utility bills, phone bills, tenancy agreement, etc.)
- Payslips / bank statements
- Property deed
What is the application process for a property mortgage loan like?
A property mortgage loan is a large secured loan and it involves properties and more documentation.
Nonetheless, all applications for our property mortgage loans are kept fast and simple.
- Step 1: Submit your application via our online application form.
- Step 2: We will drop you a call regarding your loan application status a day. It depends the complexity of the case.
- Step 3: Head down to your selected Lending Bee® branch to do a face-to-face verification and receive your letter of offer. Once accepted, we will proceed with mortgage processing and you can receive your loan.
How fast can I receive the money?
We will be able to disburse your money within 24 hours to a few days. This is because more documentation is required for property loans and more paperwork has to be done. It also depends on the complexity of the case.
For unsecured loans (personal loans, wedding loans, education loans), we will disburse the funds to you immediately after you have accepted and signed our loan contract at any of our branches.
I have a poor credit score. Can I still apply for a property mortgage loan?
Yes, you can still apply for a property mortgage loan with us.
As long as you have ample equity in your property, you can get a loan with us.
For secured loans such as a property mortgage loan, your credit score is of a lower priority to us.
Will I be charged if I make early repayments?
No, we do not charge any fees for early loan repayments.
Outstanding interests, if any, will also be nullified once you have finished repaying your loan earlier than the date stipulated in your loan contract.
What makes Lending Bee® different from traditional financial institutions?
As one of the best financial institutions in Singapore, Lending Bee® is able to offer the fastest and most flexible loans. We have a higher approval rate than banks and are able to disburse your loan on the spot.
We are also more relaxed with borrower’s credit score.
Lending Bee® is also dedicated to meet the needs of all our customers. Up till today, we have received close to 2,000 positive Google Reviews. Read them here!
Additional Resources on Property Mortgage Loans
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