Mortgage – Singapore property for sale/ rent
Mortgage is a transaction where a property owner pledges his property to borrow money as a loan from a financial institute/bank, which will return the property once the debt is fully paid. The borrower is called the mortgagor and the financial institute/bank is called the mortgagee. In a mortgage, the property serves as a collateral which means the property has been pledged as a security for the loan. Singapore property for sale/ rent.
The solicitors acting for the mortgagee are required to file all necessary instruments containing the details of the mortgage with the land register managed by SLA. The information contained in these instruments form part of the public records available for inspection and search by members of the public upon payment of a fee.
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