Guide to obtaining an Overseas property loan in Singapore

Posted by Sean Lim on September 26, 2017

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There are not many banks in Singapore that finance overseas properties. How do you navigate through the TDSR guidelines and individual bank criteria? What are the usual concerns in obtaining an overseas property loan in Singapore?

Approval In-Principle

While buying a foreign property in UK (especially London) and Australia (a perennial favorite) might be a hot trend, we cannot but emphasize, stress and remind our customers that approval in-principle for overseas property is very important! And do not assume that all locations, sizes, property types, tenure are acceptable by the banks, even though you have good credit score, high income within an affordable Debt-Servicing Ratio.

Multi-Currency

It's also an important decision on whether you are taking up Singapore dollar-denominated property loan or the local currency of overseas country. When the foreign currency depreciates against Singapore dollar, it means the property value drops accordingly. So if you are financing in the foreign currency, the bank may request you to top up the drop in valuation.

Nationality

Are you buying with a partner or spouse? Are both Singaporeans or any one is a Permanent Resident or foreigner? The nationalities or citizenships are factors that banks may consider in approving a loan. If you have trouble finding mortgages, we are help to help.

There is no hard and fast rule to these criteria since they differ from bank to bank and they change over time. You can easily find out your eligibility through us. Simply shortlist an overseas property loan and contact us for an application and discussion.

Overseas Mortgage Options

Mortgages for these overseas properties are offered in Singapore:

Topics: home loan

Written by Sean Lim

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"I am most impressed by Sean's professionalism in assisting to put in place a mortgage plan that totally meets my investment objectives. His enthusiasm and passion for what he does is remarkable. I hope there will be more mortgage brokers like Sean and his colleagues in Singapore." - Ann Tay, Jan 2017"

"I would like to register my compliments for Maggie. I started enquiring about loans since June/July last year and Maggie has been diligent in following up with me and in addressing all my questions. I recently only settled the bank loan. Throughout this period of several months, Maggie has been patient, proactive and prompt.  It is a delight working with her." - Irene

"You have given good advice, Maggie. Your website is the easiest to follow to get list of documents. We prepared according to the website and it is easy for us to understand." - Shally Tan

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