Private Home Loan

^Terms and Conditions:
The "United Overseas Bank Limited ("UOB") Property Loans Online Exclusive" ("Promotion") is valid from 1 October 2019 to 30 November 2019, both dates inclusive (the "Promotion Period"). To participate in this Promotion, you must (1) submit an online application during the Promotion Period via "Apply Now" to apply for a property loan (i) to finance a new Private Residential Property purchase; (ii) to refinance your existing Private Residential Property loan from another bank; or (iii) for additional facility(ies) to be secured against your Private Residential Property that is yet to be mortgaged to UOB; and (2) accept the letter of offer in respect of your property loan application (the "Letter of Offer") within the Promotion Period. If your property loan application submitted to UOB under this Promotion is approved by UOB within the Promotion Period, you will be eligible to receive free subscription on your Singtel Fibre Broadband (1 Gbps) and Singtel Family Fun TV Pack for 4 months and HBO Pak for 6 months when you sign up with Singtel. You will also be eligible to select either the KrisFlyer miles or the TANGS Gift Card as your gift upon acceptance of the Letter of Offer within the Promotion Period. To select the KrisFlyer miles, the individual indicated as the main applicant/borrower in the property loan application submitted to UOB pursuant to this Promotion must (i) either be an existing holder of the KrisFlyer UOB Credit/ Debit Card at the time of the property loan application or must have successfully applied for a KrisFlyer UOB Credit or Debit Card within 30 days of acceptance of the Letter of Offer; and (ii) be an existing member of the KrisFlyer programme. Terms and conditions apply. Visit uob.com.sg/kfhomeloan-tnc for more details. UOB may vary these terms or suspend or terminate the Promotion without giving any notice or being liable to any person.

*4 free months of Fibre Broadband and Singtel TV and 6 free months of HBO Pak:
Promotion is valid till 30 November 2019. A 24-month contract applies for Singtel Fibre Broadband & Singtel TV Pack. Applicable only when customer signs up for Singtel TV Pack and Fibre Broadband in the same transaction. This bundle includes Free 4 months of subscription for 1Gbps Fibre Home Broadband and Free 4 months of subscription on Singtel TV Pack. Free months will be reflected on the first 4 months of the contract and prevailing rate of $49.90/month applies thereafter for the remaining 20 months of the contract for Broadband, and prevailing rate of the Singtel TV Pack will apply thereafter for the remaining 20 months of the contract for TV. Free 4 months Singtel TV Pack applies only to Family Starter, Family Favourites, Family Kplus, Family Lifestyle, Family Fun, Family Learning, Jingxuan Starter, Inspirasi Starter, Desi Starter and Kondattam Starter. Free 6 months HBO Pak: A 24-month contract applies. Free 6 months subscription will apply for the first 6 months and prevailing rate of $13.98/mth will apply thereafter for the remaining months of the contract. For Singtel Fibre Broadband, a one-time registration fee of $53.50 applies. Singtel weekday installation and NLT Fibre Termination Point installation worth $160.50 will be waived off. Singtel Fibre Broadband also comes with free home line, free 4G Mobile Broadband (500MB), free Singtel WiFi and free 3 months Security Suite Plus and Qustodio. Existing TV customers whose plans are no longer offered by SingNet and wish to subscribe to any new Singtel TV content pack(s) / channel(s) must terminate their existing contract and enter into a new contract on any of the plans currently offered by SingNet. All prices exclude Singtel TV Set-Top Box rental. Other terms and conditions apply. For full Singtel TV Terms and Conditions, please visit www.singteltv.com.sg/tnc/. Typical download speed range for 1Gbps Fibre Plan: 823.35Mbps - 971.22Mbps (local) and 700.39Mbps - 874.44Mbps (international). Results above were validated in January – March 2019. For more information, visit www.singtel.com/personal/support/broadband/typical-download-speeds.

• Attractive interest rates and flexible repayment options.
• Provides up to 75% financing of the purchase price or valuation of your new property, whichever is lower.

• Applicant(s) must be between the ages of 21 and 65.
• Singapore Citizens, Permanent Residents and foreigners may apply.

• 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.

• If the permitted residential property purchased is completed with TOP issued, instalment will be payable upon the drawdown of the loan and the instalments calculated are based on the full loan amount and loan tenor.
• If the permitted residential property purchased is under construction, you can opt to pay your instalments based on the disbursed loan amount until the Temporary Occupation Permit (TOP) is issued. Thereafter the instalments will be calculated based on the outstanding over the outstanding loan duration.

• Yes. However, for properties with a remaining lease of less than 30 years, CPF members are not allowed to use their CPF savings to service the monthly instalments or make direct payment to the property developer/vendor to buy a residential property.

• Information on the use of CPF monies is available from the CPF website. 

• Completed duly signed UOB Property Loan Application Form
• Copy of NRIC/Passport of applicants
• Income documents:
• Latest computerised payslip/IR8A
• Two years’ tax return (for self-employed applicants)
• Two years’ commission statement (for commission based applicants)
• Option to purchase
• Latest CPF statement of account (if CPF usage is involved)
• Latest CPF withdrawal statement for existing property (if applicable)
• Option of sale for existing property (if applicable)

• Prior to the approval of your home loan application, we will appoint a valuer to assess the market value of the property. 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 by the Bank to insure your property against fire.

• UOB Home Loan offers wide range of home loan packages and flexible financing options to tailor your financial needs. Our packages include Fixed Rate package, Floating Rate Package and SIBOR pegged rate package, or up to a combination of 2 of these packages. Please contact us for more details.

• New Purchase
  If this is your first housing loan in Singapore, the financing is up to 75% of the purchase price or property market value, whichever is lower.
• Refinancing
  If you already have an existing residential property loan, the refinancing is up to 100% of your loan outstanding, or 90% of the property market value, whichever is lower.

• Before deciding which property to buy, you may find it useful to understand the relevant regulatory guides on foreign ownership of permitted residential property in Singapore. Foreigners are only permitted to acquire or purchase certain types of residential properties in Singapore. Please refer to the Singapore Land Authority’s website and Housing & Development Board’s website for the types of residential properties which foreigners may acquire or purchase in Singapore.

In addition to the property purchase price, you will have to make provision for the Legal Fee, Stamp Duty, Property Tax & Income Tax.

• Legal Fee
  When buying property (including permitted residential properties), you need to engage a lawyer for legal contracts for the sale and purchase of the property (including permitted residential properties). You can request your Lawyer to give you an estimate of such stamp fees, legal fees and disbursements that will be incurred in the purchase of the property (including permitted residential properties).
  
  
• Stamp Duty
  Stamp duty is a tax on executed document relating to properties (including permitted residential properties) or interest in properties (including permitted residential properties). These documents include a lease, sales & purchase, gift or mortgage of property (including permitted residential properties).
  To know more details and calculate your stamp duty, please log on to www.iras.gov.sg/irashome
  
  
• Property Tax
  Property Tax is a tax on the property (including permitted residential properties), and is payable by the owner whether or not the property (including permitted residential properties) is owner-occupied, rented out or vacant. Property Tax is calculated based on a percentage (Tax rate) of the Annual Value of your property (including permitted residential properties). 
  To know more details and calculate your property tax, please log on to www.iras.gov.sg/irashome
  
  
• Income Tax
  Rent received from the letting of property (including permitted residential properties) in Singapore is subject to income tax. Your rental income includes rent of the premises, maintenance, furniture and fittings. After deductions for allowable expenses (such as property tax), the net amount is taxable. 
  To know more details and calculate your income tax on rental, please log on to www.iras.gov.sg/irashome

• Please leave your contact details and we will be in touch shortly, or call our UOB call center from 8am - 8pm at 1800 388 2121, or visit any UOB Group branch and speak to our Home Loans Specialist.

• The Board Rate (BR) quoted is applicable only for the loan package that you are interested in (eg. HDB flat financing at fixed rate). The financial indicator(s) against which that BR is benchmarked, such as the SIBOR, Prime Rate or CPF rate, will also be disclosed. The current applicable Board Rate is 0.85% p.a.
• The BR offered for your loan package may be different from BRs offered to other customers for different loan packages.
• The BR can be changed by the bank anytime, by giving 30 days' notice, depending on market conditions and/or changes in the financial indicator(s) against which the BR is benchmarked. This 30-day notice requirement does not apply to home loans benchmarked against market indices.
• The loan repayment schedule for the loan package that you have chosen is available in either hard copy (on request) or soft copy in the form of a home loan calculator on the bank's website.
• 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.