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I am a Singaporean PR. currently I own HDB flat and use bank loan. I use CPF to pay monthly installments . My outstanding loan is around $25K. I want to fully pay my home loan because the interest rate is quite high ( around 3%). Since my lock-in period is already expired, there is no penalty. I will pay my outstanding loan through cash. When I went to bank, they mentioned that I need to give 3 months notice and need to pay legal fees (around $500). Can you please advise regarding my below query: 1. Why I need to pay legal fees? 2. What are the legal procedure? 3. Any tips to avoid any extra hidden charges
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2 Answers

OHMYHOME PTE LTD
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Landon Chew
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Hi, hopefully you managed to sell your unit at a good price then. 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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