Proof of sale for higher LTV limit – Properties in Singapore for rent
If a buyer is selling his only property to buy another property, the buyer must show proof of sale to enjoy higher LTV limit (with no outstanding loan). Properties in Singapore for rent.
The following proofs of sale for private property are required:
- Signed sale & purchase agreement or exercised Option to Purchase
- Certificate from IRAS to show buyer has paid stamp duty
- Letter from the bank with the outstanding loan stating that borrower will discharge loan on completion of sale.
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