UOB International Home Loan London

Benefits

• Up To 75% Financing
  • Depending on the location of the property, you could obtain financing of up to 75% of the purchase price or valuation, whichever is lower.
• Flexible Loan Options
  • Our financing schemes are available for a wide range of purposes: :
    
    • Purchase for investment
    • Refinancing
    • Equity Term Loan
• Choice of Loan Currency
  • Singapore Dollar (SGD)
  • Pound Sterling (GBP)
• Repayment Period of Up To 30 years
  • You’ll have the flexibility to stretch your repayment over a period of 30 years and pay off the loan at a comfortable pace.

Requirements

• Eligibility
  • Singapore citizens, permanent residents and foreigners aged 21 to 65 years old at time of application
  • Minimum income of SGD100,000 per annum.

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FAQ

• Q1. What type of properties can I purchase with the loan?
  • Landed, condominiums and apartments in London Zone 1 to 3.
• Q2. What is the maximum loan amount that I can borrow?
  • The maximum loan amount that you can borrow is up to 75% of the purchase price or valuation price (whichever is lower), depending on the location of the property.
• Q3. What is the maximum loan repayment period?
  • The maximum loan repayment period is 30 years, subject that the age of the youngest applicant with earning income is not older than 75 years old at the end of the loan tenor. For example, if the youngest borrower with earning income is currently 50 years old, the maximum loan repayment period is 25 years.
• Q4. How long is the approval process?
  • Approval can be within 24 hours upon receipt of full documents.
• Q5. How do I repay my loan?
  • Repayment of principal and interest is by monthly instalment, which will commence
    
    
    • on the 1st day of the month immediately following the month in which the Loan is disbursed, if disbursement is between the 1st and 10th day of the month; or
    • on the 1st day of the second month immediately following the month in which the Loan is disbursed, if disbursement is effected between the 11th and the last day of the month.
    Subsequent instalments shall be payable on the first day of each month until the loan together with interest is fully paid.
    
    We will assist you to open a UOB Singapore personal account in the loan currency of your choice to service the monthly instalment.
    
    For SGD loan, you can choose to open a UOB I-Account, UOB Current Account or UOB Savings Account.
    
    If you choose to take the loan in GBP, you will need to open a Global Currency Account denominated in GBP.
• Q6. Can I use my CPF savings to pay for the instalment?
  • No, you are not allowed to use CPF to pay for the instalment of this loan. CPF regulation states that it is only used for residential properties in Singapore.
• Q7. What happens if there is a difference between the purchase price and the valuation price?
  • If there is a difference between the purchase price and valuation price, you will have to top up the difference before loan disbursement.
• Q8. Is there a fee involved in the loan application?
  • A processing fee of SGD500 (SGD Loan) or GBP500 (GBP Loan) will be payable upon the acceptance of the letter of offer.
• Q9. Are there any cancellation charges?
  • A cancellation fee of 1% on the undrawn amount will be payable if cancellation is made after loan acceptance.
• Q10. Am I allowed to do a partial loan prepayment?
  • Partial prepayment may be made by giving the Bank one month’s prior written notice or one month’s interest on the amount prepaid in lieu of such notice. The prepayment fee is 1.5% of the amount prepaid within one year. After one year, there is no penalty.
• Q11. Do I have to pay for expenses such as legal fees, valuation fee, fire insurance or any other charges?
  • All expenses including legal fees, valuation fees, mortgage costs, remittance charges and fire insurance premium shall be borne by the borrowers.
• Q12. Can the bank recommend a lawyer and can we use the same law firm as the Bank to save on legal cost?
  • Yes, subject to the appointed solicitor’s agreement to represent both the purchaser and the bank. However, the appointed solicitor must be different from seller’s to avoid conflict of interests.
• Q13. How do I apply?
  • To apply, please complete the London Application Form and submit with the following documents:
    
    
    • Copy of NRIC (front & back)/Passport (with valid expiry date) of all applicants
    • Signed copy of Sales & Purchase Agreement
    • Copy of Tenancy Agreement (if property is currently leased out)
    • Past 6/12 months’ Loan Account Statement of Existing Mortgagee from Bank (for refinancing)
    • Other documents upon request
    • Income documents:

    For Salaried

    • Recent Income Tax returns or
    • Latest computerised pay-slip or
    • Latest six months’ bank statements or
    • Employer’s letter addressed to UOB confirming position, years of service and remuneration

    For Self Employed

    • Company Registration and
    • List of Shareholders and
    • Recent two years’ Income Tax returns and
    • Latest six months’ bank statements
• Q14. Who can I contact to take up the UOB International Home Loan-London?

  • For enquiries, please leave your contact details here and we will be in touch with you shortly.

    To apply, please leave your contact details here and submit the completed London Application Form to us. We will be in touch with you shortly.

    For further assistance, please call our 24-hours customer service hotline at 1800 388 2121 (Singapore) / +65 6388 2121 (International) today.