Although the ability of real estate purchasers to obtain real estate finance is impacted by the so-called ‘credit crunch’, it is still possible to find competitive finance deals with reputable global banks. This is especially true for investors with large cash sums available for deposits. Healy Consultants assists real estate investors secure real estate finance for their international properties, whether they be a place in the countryside in the UK, a luxury condominium in Singapore or a beach pad in Australia. The following is an outline of how we assist with real estate finance:

Healy Consultants works closely with leading international retail banks in Singapore and Hong Kong (including DBS Bank, UOB Bank and ANZ Bank), which we feel offer the most competitive real estate finance products. Our good working relationship with these banks ensures an efficient mortgage application from start to finish.

Our client advises us the amount of real estate finance required, as well as the real estate location. Healy Consultants will then source the most appropriate finance product for our client based on their specifications.

If the real estate finance product requires clarification, a bank officer will visit our office (or the office of one of our global affiliates) to elaborate on the features of the product for our client. In some cases our client is unable to attend the meeting with the bank officer due to other commitments – Healy Consultants will therefore e-mail a table of recommendations to our client on the most suitable finance deal.

Once our client has indicated his/her preferred real estate finance product, our banking staff prepare a finance application, including completed application form and due diligence as required by the bank. Examples of due diligence include:

i)Passport copy;

ii)Signed copy of the Sales & Purchase Agreement (Reserve Agreement) if applicable;

iii)Original income documents:

a) For Salaried employees: - employer’s letter addressed to the bank confirming position, years of service and remuneration OR - Recent Income Tax returns OR - Latest computerised pay-slip OR - latest 6 months’ bank statements

b) For Self-employed: - Company registration AND - List of shareholders AND - Latest 6 months’ bank statements And - Recent 2 years’ Income Tax return;

Our banking staff submit the application pack to the bank. Following submission, Healy Consultants liaises with the bank to check application status, providing our client with regular progress updates. If necessary, we organise for additional information to be supplied to the bank (for example, personal due diligence, business plans and cash flow projections) to increase the probability of approval for real estate finance.

Healy Consultants informs our client when the finance for application is approved. At this stage many of our clients then request our help in opening personal and corporate bank accounts to receive rental income and settle loan repayments.