Business

OCBC launches one-stop service for private property purchases

OCBC Bank has launched a one-stop service that brings together everything that both first-time home buyers as well as seasoned investors would need - from property listings, policy details and rules and regulations to comprehensive affordability advice.

While most advisory tools in the market can only derive the loan amount a buyer can borrow based on the total debt servicing ratio, the OCBC OneAdvisor Home affordability tool computes the price range affordability for the buyer, including down-payment, stamp duty and minimum cash payment as well as legal and agent fees.

Plans are also underway to allow home buyers to get to know mortgage specialists without having to meet them face-to-face.

This new feature allows home buyers to see the past ratings and testimonials given by the mortgage specialists' former clients.

In the coming months, OCBC OneAdvisor Home will allow home buyers to submit documents through the website for a secure Credit Bureau check.

In addition, home sellers will be able to get an indicative value of their properties from an accredited valuer.

Property