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Can any property specialize help me with the question 1) if the economy sour and my loan of property is 1 million and gone down to 800k will the bank chase after the difference, 2) I do not met the bank criteria of bank loan but I do have money in my account will the bank make the loan to me then , please let me know thank you and regard appreciated
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2 Answers

Mike Lim
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Afternoon,

If the indicative price of your unit drops, you are the one suffering the losses. Whatever amount the bank have loan to you, at the point of purchase, will stay. You will just have to service it to the point where you feel that you want to sell it off.
Depending on the amount of money you have with the particular bank, yes, the bank will make concession. It's also dependent on how much you intend to loan, against how much you have in the bank's account.

FYI
Mike Lim
 96929209 
ERA Read More
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Landon Chew
Replied
Hi, hopefully you managed to get your doubt or query answered. If so, then congrats! Hopefully you are doing well now.

If you are currently or planning to find a property agent, I can assist.

If you are interested in prices of houses in your neighbourhood, you may visit this website to find out more or contact me.

https://www.era.com.sg/R064892F

If you are currently planning to go on a property journey selling/buying/renting/investing, I can be of assistance. Do feel free to reach out to me for more queries and assistance.

Landon Chew
97 39 60 40
landonchew@email.com Read More
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