How to find out the valuation of your property from banks
Many people who are buying a house for the first time or have just started their career would like to know how much of bank loan they are eligible for or would like to find out the valuation of a property they are keen on buying.
At SmartLoans, we encounter many circumstances whereby customers are not wary that apart from having a certain amount of annual salary or monthly income that would declare how much they are able to afford according to their earnings; other factors such as credit bureau, property valuation and monthly liabilities affect their loan eligibility too.
When you have an eye on a house you are interested in buying, first and foremost, you would like to find out the valuation of the property so that you’d roughly know how much of loan you can afford to take up from a bank. If the valuation given by the seller seems too low, you can actually enquire a banker to calculate the property valuation for you.
Here is the information you should provide them with
- Address of the property
- How many floors?
- What is the SQF?
- Built in how many SQF?
- Age of property
- Is it a freehold or leasehold property?
Find out more about other factors that affect your loan eligibility here.
Article by SmartLoans.sg - Singapore's leading home loan comparision platform
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