Q: Hi Ben, what is the maximum years of loan can one take up?

BEN:
Thanks, Adrian for your question.

It's usually 35 years of up to the borrower's age of 70 upon loan maturity, whichever is earlier. Some financial institution is prepared to considered up to 40 years of repayment term. You may wish to note that different financial institutions have different guidelines to determine the loan tenure if there are more than 1 borrower.

Another important factor which affects the loan tenure is keeping an unexpired lease of 30 years at the end of the loan tenure for leasehold property. If the maximum loan tenure is 35 years and the remaining lease of the private residential property purchased is 60 years, the maximum loan tenure is only 30 years.

In order to work out your loan commitment and the affordability, your may wish to contact any of our Housing Loan Specialists at 6100SAVE(7283) for detail discussion.