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Reassessing your financial commitments
AT A GLANCE

Reassessing your financial commitments

With careful research and smart financial planning, you will find it easy to manage your home loan and make the most out of it. At UOB, we are committed to helping you along the way. Here are some information that you may find helpful when it comes to your property equity loan.

Repricing your property loan

Fixed Interest Rates

Fixed Interest Rates

Your prevailing interest rate will be fixed for 2 or 3 years and not affected by volatile market conditions.

SORA-pegged Rates

SORA-pegged Rates

SORA is a transparent benchmark rate that is pegged to the 3-month SORA.

Property equity loan

Borrow against the equity in your property

Borrow against the equity in your property

when you need cash on hand for whatever needs that arise.

Manage your finances with more certainty

Manage your finances with more certainty

if you know exactly how much you need to borrow, as you can repay the term loan comprising of the loan principal and interest on a monthly basis.

Things you should know

Important information for home loans
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  • The Association of Banks in Singapore's (ABS) Consumer Guide on Home Loans is available and you are encouraged to get a copy from the bank and read it before committing to a loan. This guide is also available on the MoneySENSE and ABS websites in four official languages.

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.

Speak with our mortgage relations team today to review your property loan

Speak with our mortgage relations team today to review your property loan

    Frequently asked questions

    How do I check my home loan details?
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    You can find out more about your loan with the Bank through:

    • UOB Personal Internet Banking;
    • Call Centre from 8am - 8pm at 1800 388 2121; or
    • Contacting our Home Loan Specialists at any UOB branches

    After you have signed your Letter of Offer with UOB, your lawyer will proceed to complete the legal work on the purchase of your property. Upon loan disbursement, UOB will send you an advice with the following information:

    1. Loan amount disbursed
    2. Your monthly instalment
    3. Your monthly instalment due date


    For completed properties, it takes approximately ten weeks from acceptance of the Letter of offer for the loan to be disbursed.
    For uncompleted properties on the progressive/deferred payment scheme (for loans accorded the deferred payment scheme prior to 26 Oct 2007), you will receive a disbursement advice to commence monthly instalment for your housing loan when the Bank disburses the loan.
    Hence, please ensure your mailing address is updated with the bank.

    • For Private Property Loan, it is due on the 1st day of each month.
    • For HDB Home Loan, it is due on the 15th day of each month.
    • Your due date will be rescheduled to the next business date if the payment due date falls on a Saturday, Sunday or Public holiday.
    • CPF (not allowed for Property Equity Loan)
    • Deduct from your pre-designated UOB bank account

    Please check your Letter of Offer for any prepayment penalty clause and charges before proceeding with the prepayment.

    • You will have to:
      - Submit Capital Partial Prepayment Form to the Bank.
      - Serve a one month’s written notice to the bank.
      - Prepay via Direct Debit from designated UOB account or CPF. Find out more about using CPF for monthly instalment as outlined in the Frequently Asked Question 8.

    You can:

    1. refer to your Letter of Offer;
    2. check with our Home Loan Specialist at any UOB Group branch; or
    3. contact our Call Centre from 8am - 8pm at 1800 388 2121.

    Please submit your written instruction to:


    A processing fee may be charged by the Bank and your request is subject to approval.

    You can do this by informing your lawyer of your intention to use your CPF funds to service your home loan at the point of your loan application. If you missed this at the point of your loan application, please engage a lawyer to write to the CPF Board for approval and obtain approval from the Bank that you will be using your CPF funds to service your monthly instalments through your Home Loans Specialist at any UOB branches. Please also be aware that all legal costs will be borne by you and there will also be a processing fee that will be charged by the Bank. For more information, consult CPF Board or visit www.cpf.gov.sg for further clarifications.

    After deducting the CPF contribution received, any balance outstanding will be deducted from your pre-designated UOB bank account.

    You will have to:

    1. Submit the completed Capital Partial Prepayment Form to Bank.
    2. Submit request to CPF Board. For details, please visit CPF Board website.
    3. Serve a one month's written notice to the Bank.


    The Bank reserves the right to refund the CPF monies if there is no prepayment instruction.
    Please also check your Letter of Offer for any prepayment penalty clause and charges before proceeding with the prepayment.

    Follow these steps if you are selling your property or paying off with your own funds:

    1. Check your Letter of Offer for any applicable fees/refunds to be made to the Bank
    2. Submit the completed Full Settlement Form to the Bank
    3. Serve the Bank two months' (for Singapore property) / three months’ (for overseas property) written notice to the Bank
    4. Appoint a lawyer to discharge the mortgage (note that all legal fees are to be borne by you)
    5. Liaise with your Insurance provider if you wish to terminate your Fire Insurance policy


    Do note that any prepayment requests pending or served will be cancelled.
    It has been our pleasure serving you and we hope to assist you in your next home ownership journey.
    If you are refinancing to another bank, save time and effort of refinancing and contact our Mortgage Relations Managers for a customised solution.

    Keen to tap on the equity in your property to help you achieve your financial needs and goals?

    You may consider a property equity loan. Contact us for an assessment today.

    Alternatively, please instruct request your lawyer to write to the Bank to discharge the mortgage. Once your mortgage is discharged, your title deed/e-title deed will be returned to you. All legal fees are to be borne by you.

    It has been our pleasure serving you and we hope to assist you in your next home ownership journey.

    You can update your particulars via these secured channels:

     

    1. UOB TMRW App (View Step-by-Step Guide)

     

    2. UOB Personal Internet Banking (PIB) > My Profile > Personal Details (for Change of Contact Details) or Change of Address (for Change of Mailing Address) > Save (Please note that Change of Residential Address can only be done via UOB TMRW App with your Singpass or in-person at any UOB Branch)

     

    3. In-person at any UOB Branch

    -For Change of Residential Address, one of the following documents as proof of residence (within last 6 months) is required:

    • Singapore NRIC
    • Utility Bill
    • Telephone Bill
    • Tax Assessment
    • A non UOB bank statement
    • Rental agreement

     

    Note:

    For Home Loans with more than 1 registered borrower, please proceed to any UOB Branch to update your Mailing Address and/or Contact Details in-person. Please note that ALL borrowers will need to be present to proceed with this request

    You will receive an annual loan statement (as at 31 December of the year) at the beginning of the following year. For duplicate copies, additional fees will apply. In the event that you do not receive your annual loan statement, please call our Call Centre from 8am - 8pm at 1800 388 2121 or check with our Home Loan Specialist at any UOB Group Branches.


    Other services


    Other services

    You might be interested in

    Private Home Loan

    Enjoy additional legal and valuation subsidies when you refinance your Private Home Loan with UOB or take up a new Property Equity Term Loan.

    HDB Home Loan

    Enjoy a total home solution with us. Our HDB Home Loan is designed to give you competitive interest savings, flexibility, convenience and a host of other benefits to answer your every need.

    Refinancing

    Refinance your residential or commercial property with UOB to enjoy great savings. Plus, unlock the potential of greater financial flexibility today!

    We're here to help

    Make TMRW yours, download now!