Valuation Fee
If you’re buying private property with a bank loan, the bank will typically have their own panel of licensed valuers. The cost of the valuation report can be anywhere from $200-$400.
Fire/Home Contents Insurance
Depending on the coverage, a comprehensive policy will set you back $45 to $700+ per year.
Private Mortgage Insurance
You have to get a quote from the private insurance company.
Bank Loan Legal Fee
Expect to pay somewhere around $3000.You’ll also have to pay stamp duty on the mortgage documents which will cost 0.4% of the loan secured but it’s capped at $500. You can pay for this using CPF as well.
If you’re buying private property with a bank loan, the bank will typically have their own panel of licensed valuers. The cost of the valuation report can be anywhere from $200-$400.
Fire/Home Contents Insurance
Depending on the coverage, a comprehensive policy will set you back $45 to $700+ per year.
Private Mortgage Insurance
You have to get a quote from the private insurance company.
Bank Loan Legal Fee
Expect to pay somewhere around $3000.You’ll also have to pay stamp duty on the mortgage documents which will cost 0.4% of the loan secured but it’s capped at $500. You can pay for this using CPF as well.