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Hi, I will like to make enquiry on the renting out private property.
Currently my bank letter of offer stated that the use of property is owner occupation. During the signing of the, my banker actually mentioned that we need to inform the bank if we are going to rent out. May i know if this is true? and what are the consequence that might happen if i fail to do so.

Thanks.
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3 Answers

Geryl Lim
Replied
Dear sir/madam,

Yes, it is true that you should inform your bank about renting it out. You should check the consequences for failing to do so with the bank.

Tenants can visit http://bit.ly/SGExpatRental (Official Rental Requirements - Singapore Expatriates) to indicate your rental requirements.

Thank you for your support in 2016 for the Top Producers Award - https://bit.ly/No1Team

Claim your free home report today at https://bit.ly/ClaimFreeReport.

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My self introductory video on https://youtu.be/6UfrCOCB6Mg

Regards,

Geryl LIM
Associate Marketing Director
Global Alliance Property (L3010679B) - Century 21
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Mobile: +65-81577565  /+65-92787772
Email: geryl7772@gmail.com

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Jasmine Xu
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Good day!
This is Jasmine from ERA.

The answer for your question is YES. Before you pay off the bank loan, they still have a share of your property. So you are to report to bank if any rental case.
However, if you do not notify the bank and they find out the case. They might ask you to rearrange your mortgage. For detail, you might need to consult a lawyer.
In general my suggestion is to report bank to save all the trouble. As it is usually a very simple process, which you will get the approval within days.
In you need any more info on for your rental, please feel free to give me a call.

Have a great day ahead.
Best Wishes

Jasmine Xu (R058099Z)
 (+65) 83212202 
Jasmine.xu.era@gmail.com Read More
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Koh Zhen Hon
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Hi there ,

For your enquiries

Pls whatsapp to HP 8 2 7 9 - 8 3 2 7 to disccues further.
For your properties matters. Rent . Sales . Etc
HAVE A GOOD DAY AHEAD !

Thank you

Koh zhen hon
ORANGETEE & TIE PTE LTD

Salesperson licence Number.R057810C
Estate Agent Licence Number. L3009250K

430 Lorong 6 Toa Payoh #01-01
OrangeTee Building Singapore 319402 Read More
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