Property_Broker
Senior Member
- Joined
- Aug 13, 2020
- Messages
- 2,182
- Reaction score
- 436
1) Yes correct. This is based on my understanding.. Cannot run one.. Even if you are on HDB loan, i know you will have to engage HDB solicitor to redeem it. haha!Thanks for the kind words.
On 1) I thought can siam engaging lawyer as I thought lawyer only needed if need to fully redeem/repay the loan one shot. So what I did was pre-pay but still left 1 or 2 month monthly payment, and finish paying like that. So you mean even if I fully pay back, I still need to engage lawyer to "redeem" the loan and get title ah?
2)Yes, the insurance that covers if I uplorry, then insurance company will pay up the remaining loan. By right they should just auto collecting my premiums.
3) I thought its good to continue having this fire insurance even after loan is fully paid? Was wondering if it will continue to be in effect.
2) Usually for such mortgage insurance (Term insurance), there is a cease date one. You will need to check on your policy.
3) It should pegged to your loan one. If you finish paying the loan, it should cease. No worries! U can get from outside. Dont buy from bank. It is more exp from bank. haha!