Now that you have the keys to your new house, what is the first thing that comes to mind? If you are like most people in Singapore, renovation is the next big project. Of course, the home purchase process has drained you financially, but there is still a burning desire to customize your house. Whatever renovation idea you have in mind, you must be concerned about the cost. Luckily, the local financial market now has a way out for homeowners seeking to renovate their houses. Whether your place is new or you want to give an old house a facelift, a renovation loan with United Credit, a reputable and licensed moneylender will go a long way. Your home upgrade loan funds important renovations to give the property your personal style.
Leveraging On A Fast Approval Cash Loan For Your Renovations in 2020A home revamp loan gives you a much-needed boost to personalize your home. You can transform an otherwise bland looking property into the most glamorous living space. With these loans, you have the freedom to undertake any renovations ranging from electrical, wiring and plumbing, new floor installation, roof remodeling, repainting, furniture purchases, bathroom and kitchen remodels among many others.
Another reason to go for a renovation loan is the fact that renovations done add value to your property. The best home revitalization will instantly make your home more comfortable and functional, which adds to the overall value. These loans are more affordable than personal loans and this is one reason to leverage them for renovations. How Can I Get A Quick Renovation Loan Here In Singapore?
The process of renovation loan applications is now easier with most lenders providing online application options. To avoid unnecessary delays, consider the following:
Evaluate and identify your needs early: Make sure you already know what you need done to your place in order to make it easier for your contractor to give a quote.
Use a certified contractor: An official quotation from a certified contractor is required by your lender. These contractors will also provide an objective view about renovations you intend to carry out. The quote given is crucial in budgeting and accessing a quick financing.
Understand all requirements: You have to be a Singaporean or a permanent resident (PR) aged 21 years and above to qualify. Other requirements include proof of ownership of your property, proof of income for both salaried and self-employed people, documentation such as NRIC copies, and also CPF statements / NOA.Take time to research what is required by different lenders in order to qualify for a loan on the 1st attempt.
Who wouldn’t like a fully furnished house with just the perfect lighting, gleaming hardwood floor boards, French windows, cement screening on the walls, illuminating lighting all around and tiled bathroom? If there is one thing most people in Singapore would like, it is the opportunity to own a house and make some of these additions. The beauty of owning your own place is the ability to give it your own personal style only that this costs a lot.
If you are like most homeowners in the country, you have most likely struggled a lot to pay a mortgage down payment. Most homeowners wait for years before they can move into their new places only to realize they still need more money to fully customize the new home. This is how a new house turns into a home by giving it your personal touch.
Be a citizen or permanent resident of Singapore, or for foreigners, have a passport and employment pass.
Be above 21 years of age, and is not an undischarged bankrupt, nor facing any bankruptcy proceeding.
Be permanently employed, have a valid work permit (for foreigners) or self-employed with a valid income prove.
United Credit will be able to grant a loan equivalent to 6 months' worth of your salary. However, it is still dependent on our analysis of your financial situation.
Having a bad credit does not hinder us from releasing loans for you, as long as you fit the requirements.
Verify that a moneylender is licensed by checking the list of licensed moneylenders here.
Yes - You will still be able to apply for loans. Our Loan Consultants will access your financial capabilities and curate flexible loan rates best suited for your situation.
Yes - United Credit places customers' privacy at the utmost importance. We will never divulge any of your personal information to anyone.
Simply give us a phone call and set an appointment with us!
With effect from 1 October 2015, all moneylenders are only permitted to impose the following charges and expenses:
A fee not exceeding $60 for each month of late repayment;
A fee not exceeding 10% of the principal of the loan when a loan is granted;
Legal costs ordered by the court for a successful claim by the moneylender for the recovery of the loan.
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