SGD vs GBP UK Property Loan - Which is better? (Updated June 2022)


UK Mortgage Home Loan - SG vs UK Bank - London Britain England Wales Scotland Northern Ireland - Expats Resident Non-Resident Individual Names Company Names - Interest only - Residential Commercial Property Loan

 (Updated June 2022)

We are very pleased to extend our UK home financing options to now fully cover all residential properties within London zone 1 - 7. Let's take a comparision review of the features and benefits of UK Lender GBP Home Loan vs SG Lender GBP Home Loan vs SG Lender SGD UK Home Loan.

 

UK Home Loans UK Bank SG Bank SG Bank
(GBP Loan) (GBP Loan) (SGD Loan)
1st yr >3.18% >4.52% >3.45%
2nd yr >3.18% >4.52% >3.45%
3rd yr >3.18% >4.52% >3.45%
Thereafter >3.18% >4.52% >3.45%
       
Cost of Fund Reference Bank of England SONIA SG Bank GBP Cost of Fund SORA
Eligibility (Resident & non-resident foreigners)

Singapore
Hong Kong
Malaysia
Indonesia
Japan
Philippines
Taiwan
Thailand

* Korean (subject to local regulatory considerations)
* Mainland China (Not residing in China)
* India (Not residing in India)

Singapore Citizens & Singapore Permanent Residents Singapore Citizens & Singapore Permanent Residents 
Locations London zone 1 - 7  London zone 1 - 2  London zone 1 - 2 
Borrowers Individual names only Individual names only Individual names only
Property Type Residential properties only Residential properties only Residential properties only
Purpose / Use Investment / Buy-to-let / Children's education stay Investment / Buy-to-let only Investment / Buy-to-let only
Development  Completed / Under-Construction Under-Construction Under-Construction
Mortgage Repayments Principal + Interest, Hybrid P+I, Interest Only Principal + Interest  Principal + Interest 
Financing Request New Purchase (Resale & Newly Build) / Mortgage Refinancing / Equity Cash Out New Purchase (Under-construction) New Purchase (Under-construction)
Currency Exchange Risk No No Yes
Minimum Loan  > $300K GBP < $200K GBP < $300K SGD
Max Financing Quantum Up to 75% Up to 70% Up to 60%
Processing Fee 1% of the loan amount GBP 500 - 1000 Nil

Advantages of UK Lenders

  • Better rates!
  • Full lending coverage for all residential properties within London from zone 1 to 7.
  • Higher loan-to-value ratio of up to 75% loan.
  • Transparent cost of fund reference to Bank of England SONIA rate.
  • Interest-only option available.
  • Applicable for cash out equity loan on your property.
  • Applicable for resale completed purchases. SG lenders typically have issues meeting the turnarond timeline for resale purchases and hence are often limited down to only newly build mortgages.
  • Applicable also for Singaporeans, Singapore Permanent Reidents and Foreigners residing and not residing in Singapore.
  • Not subjected to TDSR, UK lending requirements apply.
  • Use of property applicable for investment buy-to-let or children's stay while studying in London.

Advantages of SG Lenders

  • Choice of SGD loan.
  • Loan repayment in Singapore to a Singapore bank.
  • Lower bank processing fees.

Eligibility

  • Singapore Citizens
  • Singapore Permanent Residents
  • Foreigners

 

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