Home Buyer's Guide

Overview of Buying Procedure

1. Select the property you wish to purchase.
2. Pay 10% of purchase price for confirmation and sign Sale & Purchase Agreement
3. Pay 90% of purchase price within 3 months or progressively based on construction stage

Getting a Loan

Where from? There are a few sources of funds to choose from:

• Commercial banks
• Government loans
• Employees housing loans
• Building Societies and Cooperations

Normally, home buyers get their loans from commercial banks. Commercial banks offer several types of loans:

• Loan facility
• Overdraft facility
• Loan and overdraft facility
• Endowment mortgage
• Mortgage from Islamic banks

Features of commercial banks loans:

Mortgage amount: Basically banks offer up to 80% loan of the purchase price.
Repayment period: Maximum 30 years.
Interest rate: Depending on the Base Lending Rate & Bank Offer Package
Criteria for Loan Approval:

• Income
• Age - minimum 18 years old
• Employment Purpose of Mortgage
• FIC (Foreign Investment Committee) (For foreign buyers only)

For more details, please check out the rates offered by our recommended banks