Outram Park is an MRT station that is located near the boundary of Outram and Bukit Merah. It is currently an interchange station with trips from the North-East Line and East-West Line. The Thomson-East Coast Line is slated to be added here in 2022.
From the Outram Park Station, Pearl’s Hill City Park, Chinatown, and Tanjong Pagar are just a few minutes’ walk away. These are the places to go to if you’re looking for traditional vibes.
Understandably, you may find yourself eyeing some particular properties in the Outram Park area. If you’re determined to get it but don’t have enough money to do so, a bridging loan can help you claim it.
What is a bridging loan?
A bridging loan is catered to clients who wish to purchase a new property, but currently lack the funds to complete the transaction. It is a means of securing your dream property while you save up finances to fully pay for it.
In short, this loan “bridges” the gap in your financing during your big move or revamp.
Advantages of taking a bridging loan with money lenders
- Immediate property security: You will be able to get your dream property even if you’re short on funds right now. This is especially helpful if many people are also eyeing the property that you want.
- Loan amounts up to 6x your monthly income: If your annual income is at least SGD 20,000, you can get a bridging loan that’s worth 6x your monthly salary. For annual incomes less than that, you can get up to SGD 3,000 only.
- Affordable interest rates: As mandated by Singapore’s Ministry of Law, we can only charge a maximum of 4% monthly interest for our bridging loans.
- Fast application & approval: Aside from our convenient application process, you can also get your bridging loan application approved within 30 minutes if you have a complete set of documents.
How to apply?
Here’s what you need to take note of when you apply for a bridging loan:
- At least 18 years old
- Minimum monthly salary of SGD 1,500
- Has exercised OTP (option to purchase)
- NRIC / ID card
- Proof of residence
- Proof of employment
- Copy of OTP
- Apply online: Send your bridging loan application via our online form, e-mail, or phone call.
- Discuss in person: After processing your application, we will invite you to our office so we can tailor your loan plan according to your specific needs.
- Claim cash: Go over the contract’s terms and conditions. If all is well, you can claim your cash soon after you sign it.
How can A1 Credit help you?
A1 Credit has been lending money to all types of borrowers since 2009. To date, we’ve helped many of our clients buy the property that they want.
With more than a decade of experience under our belt, you can be sure that we already know the best practices for helping our customers, especially with bridging loans.
If you’re looking for a way to fund a property purchase, A1 Credit is the licensed money lender near Outram Park that can help you complete it. Check out Outram Park Money Lender Singapore for bridging loans!
Contact us at 6336 0833 or [email protected] so we can arrange the best bridging loan plan for you.