Step 1: Submit Loan Application
Complete the application form and submit it with all required documents.
Step 2: Bank/Finance Company Interview
Attend an interview or discussion session with the bank/finance officer.
Step 3: Loan Approval & Letter of Offer
Receive a Letter of Offer once your loan is approved.
Step 4: Acceptance of Offer
Sign and return the Letter of Offer to the bank/finance company. Provide a copy to the developer.
Step 5: Instruction to Solicitor
Bank/finance company instructs their solicitor to prepare loan documents (including MOT & MOC).
Step 6: Execution of Loan Documents
You will be advised to sign the documents at the solicitor's office.
Step 7: Forwarding of Executed Loan Documents
Signed documents are sent to the bank/finance company.
Step 8: Execution of Memorandum of Transfer (MOT)
Solicitor forwards documents to developer for execution.
Step 9: Stamping & Registration
Solicitor handles the stamping and registration of loan documents.
Step 10: Document Custody
Stamped documents are sent to the bank/finance company for safekeeping.
Step 11: Distribution of Copies
A copy of the stamped documents is given to both the purchaser and the developer.
Step 12: Progressive Release of Payment
Bank/finance company disburses payment to the developer according to the Third Schedule of the Sale & Purchase Agreement, upon receiving an invoice.