Timeline On Loan

[william.chua.sk 0]

Hi,

I've just signed my OTP.

Got 14 days to exercise the Option.

I know that I have to produce the Letter of Offer by the bank before exercising the option.

(I'm going for bank loan.)

My question is:

Do I necessarily have to take up this bank's offer?

Or, can I still go around and shop another loan package?

When would it be the deadline that I have to settle down with a loan package?

Please kindly advise.

[sherwinsm 1]

yes you can. get offers from other banks and compare. if you have chosen already, you can quickly tell the banker and he can prepare the letter of offer within 1 day.

[Warrior88 0]

Hi,

I've just signed my OTP.

Got 14 days to exercise the Option.

I know that I have to produce the Letter of Offer by the bank before exercising the option.

(I'm going for bank loan.)

My question is:

Do I necessarily have to take up this bank's offer?

Or, can I still go around and shop another loan package?

When would it be the deadline that I have to settle down with a loan package?

Please kindly advise.

Request from a few banks, even though you have shortlist your preferred bank, they may have terms that do not suit you. ( eg. 70% loan of the valuation )

Bank will not issue you the hard copy unless you confirm taking their package.

Deadline is the same time as the option excercise date 4pm. You may ask the banker

to meet you at the seller premises.