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Hi.

Allow me to explain how this works. Banks usually subsidise the legal fees, up to a maximum of $2500, should u take up a loan with them. Whether you are eligible for the maximum subsidy or not depends on how much you borrow. Thus a buyer only need to pay the balance between the subsidy and the actual legal fees, if any.

When u want to settle your outstanding loan, all u need to do is to notify ur bank in advance and that's it. The tile deed is urs, but the bank holds a lien over it when u owe a mortgage. There's no need to engage a lawyer at all.

Do drop me a mail or give me a ring should u have any other enquiry. Cheers.

Kind regards,
William Choo (朱文彬）
Senior Marketing Consultant, 
CEA Reg No: R044093D
Huttons Asia Pte Ltd (License no: L3008899K)
Mobile: 9721 8288 
Web site: www.facebook.com/PropertySGD Read More