Can Singaporeans take loans to buy UK property?

PropertyGuru Editorial Team
Can Singaporeans take loans to buy UK property?
The UK is arguably one of the easiest places to buy property in.
With virtually no restrictions levied on foreign buyers, the only thing you need to make sure of is having enough money in your pocket to buy property.
However, finding the right bank with the right package for you will take time and finesse.
OCBC and UOB are two such banks that are favourable to UK real estate.
OCBC, for example, allows you to borrow up to 70% of the property cost for London.
You can finance it in SGD or GBP for a repayment period of up to 25 years. There is a minimum loan of S$300,000/£200,000.
As with all loans, there are a series of documents you will need to prepare.
This includes your pay slips for the past six months or income tax statements for the past two years if you’re self-employed. Your CPF contribution history for the last 12 months must also be provided.
Not every bank provides overseas loans and those that do may restrict the loans to London and to properties of a particular size.
For more information on the requirements to buy properties in UK, please read our detailed ‘Buy property in UK ‘ guide.
Disclaimer: The information is provided for general information only. PropertyGuru Pte Ltd makes no representations or warranties in relation to the information, including but not limited to any representation or warranty as to the fitness for any particular purpose of the information to the fullest extent permitted by law. While every effort has been made to ensure that the information provided in this article is accurate, reliable, and complete as of the time of writing, the information provided in this article should not be relied upon to make any financial, investment, real estate or legal decisions. Additionally, the information should not substitute advice from a trained professional who can take into account your personal facts and circumstances, and we accept no liability if you use the information to form decisions.