Dear Lim,
I strongly discourage you from doing so. Although interest rates are currently at an all-time low, it was not so long ago that interest rates were at 3.5-5%pa. Interest rates for unsecured loans are even higher.
In today's uncertain economic climate, it would be extremely risky to consider buying a property completely with borrowed money.
In any case, the initial 5% deposit to the developer must be made in cash.
Please also be wary of being lured into buying shoebox units with promises of high rental yield on a low cash outlay.
For more guidance on avoiding the pitfalls of property investment, you may wish to email me or read my blog at http://natashagoh.com
Have a good weekend, and please do not sign any options before you have had a qualified person to look through your finances!
Warmest regards,
Natasha Goh LL.B (NUS) Hons
Sales Manager (SRI5000)
Reg No: R045004B
Mobile -
(65) 9834 3604
Email - natasha@sri5000.com
Web - http://natashagoh.com
SRI5000 - Elite Division of SLP Realty (Reg: L3009793I)
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