Property Equity Financing
Tap the enhanced value of your property to make the most of it.
As you repay your mortgage, you will gradually build up equity in your property. An increase in your property value can also increase the equity that you can take advantage of. You can borrow against that equity when you need cash, using a term loan, an overdraft or a combination of both.
Property equity term loans and overdrafts enable you to obtain funds to meet your financial needs and goals. By tapping the equity in your property, you can take advantage of lower interest rates and use the money for whatever needs that arise.
Property equity term loans give you cash in a single upfront payment. You can manage your finances with more certainty as you can repay the term loan on a monthly basis, comprising the loan principal and interest. If you know exactly how much you need to borrow, a property equity term loan may be the best option.
Property equity overdrafts allow you to have cash on standby and you can draw down the standby cash as and when you need to, up to a maximum overall facility limit. You pay interest only on what you actually draw down. You also decide how much loan principal to repay at any time, without worrying about penalty fees.
Got a question? Feel free to contact us:
- Visit any UOB Group Branch and speak to any Home Loans Specialist
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