ORDINARY MORTGAGE LOANS

ORDINARY MORTGAGE LOANS

ORDINARY MORTGAGE LOANS

Available for the purposes of buying and building on a stand, building on an existing stand or completing an existing structure or for home improvements.

 Requirements

  • Applicant to open an account with POSB
  • Proof of acceptable income (Proof of Savings or Payslip)
  • Copy of Title Deed of the property
  • Agreement of Sale signed by all parties
  • Proof of Deposit (25% of Selling Price)
  • Proof of Survey where Title Deeds are not yet available
  • Original Identity Document such as National ID, Passport, or Driver’s License and a clear photocopy of the same.
  • Copy of Approved Building Plans, Quotation for materials from reputable suppliers, and labour (for building loans).
  • Quotations for the proposed improvements (for home improvement loans).

Benefits

  • Low-interest rate.
  • Long repayment periods.
  • Short turnaround time for processing loan applications.