Will_I_Am 2nd Gear June 8, 2009 Share June 8, 2009 It may helps if you have some investments such as stocks, unit trusts or invested funds with a bank. ↡ Advertisement Link to post Share on other sites More sharing options...
Sony 1st Gear June 9, 2009 Share June 9, 2009 I spoke to the bank - housing specialise, i told them i have enough saving to service the loan for the next few years even with no job, but he said no use.... cos during application, need income proof... but they dun care if i lose the job after loan approved, LL..... i know i can service the loan, also no use.... They are looking at steady income.. the saving you have are for show.. it's like borrowing money to put in bank to show you got money. unless the saving is in the same bank and that is being pledged as collateral anyway, how much of saving are you talking about vs the loan amt? care to share? Link to post Share on other sites More sharing options...
Laukuikor Neutral Newbie June 9, 2009 Share June 9, 2009 I spoke to the bank - housing specialise, i told them i have enough saving to service the loan for the next few years even with no job, but he said no use.... cos during application, need income proof... but they dun care if i lose the job after loan approved, LL..... i know i can service the loan, also no use.... What is your balance loan amount? How much do you have in your CPF? If your balance loan is not high, did you think of your CPF? Link to post Share on other sites More sharing options...
Snowbell Neutral Newbie June 9, 2009 Share June 9, 2009 Then u tahan until u get the hse & apply for the hse loan,thereafter throw the letter. Link to post Share on other sites More sharing options...
Gantan88 Clutched June 9, 2009 Share June 9, 2009 It may helps if you have some investments such as stocks, unit trusts or invested funds with a bank. No, i dun have any of those u mentioned Link to post Share on other sites More sharing options...
Gantan88 Clutched June 9, 2009 Share June 9, 2009 They are looking at steady income.. the saving you have are for show.. it's like borrowing money to put in bank to show you got money. unless the saving is in the same bank and that is being pledged as collateral anyway, how much of saving are you talking about vs the loan amt? care to share? The housing specialist told me i pledged also no use. The amt cannot be used to service the loan. I have not find a flat yet so i have no numbers to provide. But as a really rough estimate, the saving i have is about 3/5 of the loan amt? Link to post Share on other sites More sharing options...
Gantan88 Clutched June 9, 2009 Share June 9, 2009 What is your balance loan amount? How much do you have in your CPF? If your balance loan is not high, did you think of your CPF? I have not devise my strategy yet on how much cash to throw in and how much CPF to put in. No idea on loan amount, but should be 100k or more. Link to post Share on other sites More sharing options...
Gantan88 Clutched June 9, 2009 Share June 9, 2009 Then u tahan until u get the hse & apply for the hse loan,thereafter throw the letter. Ya, now i am looking for flat now. I may throw earlier, as long as i still have my last month pay slip for loan application. Really, the payslip is everything to the bank, no payslip, 0 chance, like wat other bros said in here. The housing specialist is empathised enuff to say maybe got 10 - 20 % chance though... Link to post Share on other sites More sharing options...
Fourth 2nd Gear June 9, 2009 Share June 9, 2009 (edited) But i have enough savings to service the monthly instalment for next few years even if not working. Bank won't care if you have $$ in yr bank account. The $$ in bank can be gone by next day. They can't tell if the $$ is not yrs as well. Edited June 9, 2009 by Fourth Link to post Share on other sites More sharing options...
Sony 1st Gear June 9, 2009 Share June 9, 2009 Ya, now i am looking for flat now. I may throw earlier, as long as i still have my last month pay slip for loan application. Really, the payslip is everything to the bank, no payslip, 0 chance, like wat other bros said in here. The housing specialist is empathised enuff to say maybe got 10 - 20 % chance though... now the bank are clever as well. coz got a lot of people that got retrenched uses their payslip for loan facilities... so they will do a lot of verification... Link to post Share on other sites More sharing options...
Snowbell Neutral Newbie June 9, 2009 Share June 9, 2009 yup, the banks are very stringent in their checks now.who knows they may require you to produce a letter from your employer that you're currently employed.you never know,sometimes loans are rejected for reasons nobody knows.anyway,there're so many banks in singapore,just try and see. good luck bro. Link to post Share on other sites More sharing options...
Sony 1st Gear June 9, 2009 Share June 9, 2009 yup, the banks are very stringent in their checks now.who knows they may require you to produce a letter from your employer that you're currently employed.you never know,sometimes loans are rejected for reasons nobody knows.anyway,there're so many banks in singapore,just try and see. good luck bro. they wouldn't ask outright. they will call and check... but some bank does allow the use of saving account to cover the loan.. Link to post Share on other sites More sharing options...
Gantan88 Clutched June 9, 2009 Share June 9, 2009 If they call and check, uncovering the fact that i had just quitted, then i am done for. Cos i intend to quit first and find a flat in a month time, using my last payslip to apply loan. Link to post Share on other sites More sharing options...
Snowbell Neutral Newbie June 9, 2009 Share June 9, 2009 hmm,banks use saving account to cover the loan?means the bank will have a charge over the saving account? some banks now also require personal guarantee,at least more people to go after in the event of default,haha. Link to post Share on other sites More sharing options...
Sony 1st Gear June 9, 2009 Share June 9, 2009 If they call and check, uncovering the fact that i had just quitted, then i am done for. Cos i intend to quit first and find a flat in a month time, using my last payslip to apply loan. maybe you can consider borrowing from ah long.. coz that's one that doesn't check so many things.. Link to post Share on other sites More sharing options...
Snowbell Neutral Newbie June 9, 2009 Share June 9, 2009 well,worst come to worst,you lose 1% of the purchase price of the ppty (option monies) if you don't exercise the option within the stipulated time if the Bank rejects your loan application. Link to post Share on other sites More sharing options...
Sg2303 2nd Gear June 9, 2009 Share June 9, 2009 If they call and check, uncovering the fact that i had just quitted, then i am done for. Cos i intend to quit first and find a flat in a month time, using my last payslip to apply loan. i don't think that'll work, cos they called my office to verify some personal information. Link to post Share on other sites More sharing options...
Sony 1st Gear June 9, 2009 Share June 9, 2009 hmm,banks use saving account to cover the loan?means the bank will have a charge over the saving account? some banks now also require personal guarantee,at least more people to go after in the event of default,haha. that's the norm.. but not for housing loan which the house is used as collateral already ↡ Advertisement Link to post Share on other sites More sharing options...
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