Licensed Money Lender
Personal Loan Lim Chu Kang

Lim Chu Kang is home to several farms such as vegetable farms, goat farms, and crocodile farms. Because of this, it has been a popular tourist destination in recent years. The place is likewise close to the Kranji MRT station which contributes to its popularity.

If you plan to reside in Lim Chu Kang or you are already residing and interested in getting a bridging loan, moneylenders are found in the area.

What Is a Bridging Loan and How It Works?

A bridging loan is a short-term secured loan that enables you to buy a new property without selling your existing property. It is a type of loan which you can avail of when you intend to purchase a new property while you await the sale of your existing property. 

Advantages of Taking a Bridging Loan With a Moneylender

Banks and moneylenders offer bridging loans. However, the advantage of taking it with a moneylender is that you can most likely customise your loan depending on your situation. Moneylenders tend to be more lenient and flexible when it comes to loans. 

How to Apply?

Most moneylenders have their official website to download and submit the application form along with other required documents. 

The common eligibility for bridging loan requirements are: 

• The borrower must be at least 21 years old
• a minimum salary of S$2,000 salary; and
• must exercise the Option to Purchase (OTP)

The common other documents are: 

• identity card/ NRIC
• proof of residence (utility bill, a letter addressed to you, or tenancy agreement)
• proof of employment (certificate of employment if your job is less than three months)
• recent three months payslip
• SingPass
• Copy of the OTP

How Can Our Company Help You? Why Us?

There are different moneylenders out there that offer bridging loans. Choosing what is best for you might be a daunting task. Hence, we are here to help. 

We, in Loan Advisor, aim to provide you with the relevant information you need to know. Our goal is to give you a convenient and hassle-free decision-making process.  To carry out this goal, we keep an updated list of licensed moneylenders in Singapore and their loans. We also provide reviews for the services they offer. 

Conclusion

If you are eyeing a property but do not have the extra cash right now, a bridging loan may help you not to miss the chance of getting that dream property of yours. Moreover, aside from getting a home loan from a bank, it is also good to consider the licensed money lender in Singapore. If you want to get a free quotation, feel free to fill up this form.