UOB Private Home Loan

^#This means that, in the event that the redemption of the Loan is due to sale of the Property and this redemption is within the Lock in Period, the redemption fee will be reduced by 50% subject to UOB’s receipt of satisfactory documentary evidence of the sale of the Property. In addition, the Borrower will be eligible for a refund of the reduced redemption fee paid to UOB if the Borrower fulfills the following conditions:(i) the Borrower accepts a new loan from UOB of which the new loan amount is equal or higher than the redeemed loan amount;(ii) such new loan is accepted by the Borrower within 6 months from date of redemption of the Loan;(iii) the Borrower furnishes a signed copy of the Letter of Offer; and(iv) such other condition(s) as may be determined by UOB.

^{^}This means that no prepayment penalty will be applicable to the first prepayment request made per year during the Lock in period and the prepayment amount for such request is cap at 20% of the original loan amount.

Find out more information on the Standard Terms & Conditions Governing Credit Facilities here.

• This publication is strictly for information purposes only and shall not be transmitted, disclosed, copied or relied upon by any person for whatever purpose. This publication is not an offer, recommendation, solicitation or advice to buy or sell any investment product. Nothing in this document constitutes accounting, legal, regulatory, tax, financial or other advice. You should consult your own professional advisors about issues discussed herein. While the information provided in this publication is believed to be accurate as at the date of publishing, UOB makes no representation or warranty, and accepts no responsibility or liability for its completeness or accuracy.
• Before taking up a loan, please refer to the Basic Financial Planning Guide to ensure that you have taken the necessary steps to address your savings, insurance and investment needs.

• UOB offers home loan packages for private property purchases and refinancing, including fixed-rate packages and floating-rate packages pegged to the 3-month Compounded Singapore Overnight Rate Average (SORA), subject to eligibility criteria and prevailing terms.
• You may receive financing of up to 75% of the lower of the property’s purchase price or valuation, subject to regulatory requirements and UOB’s credit assessment.

Freehold Property

• Up to 35 years or 75 years of age, whichever is earlier. For example, if you are 25 years old now and buying a freehold property, the maximum loan period is 35 years. The loan duration plus the age of the applicant must be less than or equal to 75 years.

Leasehold Property

• Up to 35 years or 75 years of age at end of loan tenor, whichever is earlier, and remaining lease of at least 30 years at the end of loan tenor

• CPF savings may be used for monthly instalments or property payment, subject to CPF rules, property eligibility and remaining lease requirements. Please refer to CPF Board's website for the latest applicable limits.

• The 3M Compounded SORA refers to the 3-month compounded Singapore Overnight Rate Average published by MAS. It is based on daily SORA rates over a historical 3-month period and is commonly used as a reference rate for floating-rate home loans in Singapore. For a SORA-pegged home loan, the applicable interest rate may change at each rate review, depending on the published 3M Compounded SORA and the bank’s package terms.

• Common documents include your completed application form, NRIC or passport, income documents, Option to Purchase, and CPF statements if CPF savings will be used.
• Additional documents may be required depending on your employment type, property type and whether you are buying, refinancing or selling an existing property.

• UOB will arrange for a valuation before loan approval. If this valuation is lower than your purchase price, you would have to pay the difference in cash before any loan can be disbursed.

• Yes. Fire insurance is required for properties financed by UOB to insure your property against fire-related risks.

• In addition to the purchase price, buyers should consider legal fees, stamp duties, property tax and, where applicable, income tax on rental income. Please refer to the relevant authorities for the latest rates and rules.

• Leave your contact details, or call UOB from 8am to 8pm at 1800 388 2121, or visit a UOB branch to speak with a mortgage specialist.