Financing a home starts with the best mortgage loan package.
Most licensed real estate salespersons have the competency to provide you basic financial planning for your property purchase. As buying a property is a big commitment, getting your appointed agent to help you find the best rates in the market as well as to do a preliminary check on the loan quantum will certainly speed up your search to find new home.
What loan packages can a property agent offer?
A property agent has tie-ups with various banks through their estate agency but they are not the ones that provide you with the housing loan packages. Property agents are not representatives of a particular bank. Rather, they are like your independent mortgage advisors, helping you find the most competitive loan rates in the market and serving you to ensure you are comfortable with your finances before jumping onto an investment. The responsibility to go ahead with the purchase ultimately lies in your own hands. However, going through your property agent is like giving him your support and that also saves you a whole lot of time checking, searching and comparing. The best part of all, you do not have to deal with different bank representatives or mortgage advisors that you have not met before. Look for a property agent that reciprocates your goodwill. There are many good agents out there.
Why some owners still prefer to go directly to a bank or a mortgage broker?
This is very much a personal choice. Buyers can opt to sign up with a bank, go through a mortgage advisor or get the assistance of their trusted property agent. Essentially, the Monetary Authority of Singapore (MAS) does not regulate on mortgage brokers and it is natural for most customers to be attracted by the incentives that banks or mortgage advisory firms give. This is, afterall, marketing initiatives and it would be good to look at the overall package of the mortgage contract. Feel free to compare and let us know how we can match your expectations with our best service!