Financing of residential properties

• Main Authors: Ang, Agnes Ming Li, Poh, Geok Tin, Lim, Jye Lih
• Other Authors: Loh Kee Yang
• Format: Final Year Project
• Language: English
• Published: 2015
• Subjects: DRNTU::Business::Finance
• Online Access: http://hdl.handle.net/10356/62983
• Institution: Nanyang Technological University

Owning a house of one's own is a dream of everyone. To fulfill this dream, most people would have to seek external financing in addition to using one's savings and borrowings from close family members. The purpose of this report is to help consumers better understand where and how they can obtain housing loans that suit their financial needs. The report will first present an overview of the housing loan market by providing information as to the various players and their relative market shares. To enable consumers to decide on an ideal financing method, the report will first describe the features of housing loans that can be found in Singapore. Next, it will also outline the loan application process, followed by a discussion on the general approach as to how bank officers evaluate their customer's credit standing. Last but not least, the legal aspects of housing loan, as well as the future prospects of housing finance in the financial service industry will also be discussed in this report.