Singapore Redemption Online for Discharge of Mortgage of Property

SINGAPORE REDEMPTION ONLINE

Engagement of Redemption or Discharge of Mortgage service in this form includes Singapore Private Properties, Commercial Property, Industrial Property and HDB Flat and Shop. If you require to know our Charges for Redemption, please visit Singapore Property Quote.

PARTICULARS

No. of Owners*

If more than 2 owners, please upload his or her ID in ID Upload Section, and indicate in Message Section.

Property Address*

Address Address Line 2 Postal Code Country

State Subject Property Address accurately.

Type of Property*

Is Loan fully paid?*

"Yes" means no outstanding Loan owing to Bank

Did you serve Redemption Notice on Bank?*

If you have served a Notice on the Bank, please select "Yes", and indicate the specific Redemption Date below in this form.

OWNER 1

Owner 1 Name*

Full Name as per ID or ACRA

ID No.*

Type of ID No.*

Citizenship*

Country of Incorporation*

Director Name*

Full Name as per ID

Please specify one Director's particulars

Director ID No.*

Type of Director ID No.*

Director Citizenship*

OWNER 2

Owner 2 Name*

Full Name as per ID or ACRA

ID No.*

Type of ID No.*

Citizenship*

Country of Incorporation*

CPF CHARGE

Apart from the existing Mortgage, is there a CPF Board Charge over the Property. If you have previously used CPF Funds, then likely to be "Yes". If Property is Commercial or Industrial, then select "No"

CPF Charge?*

DISCHARGE DATE

Propose Date of Discharge*

Although your loan is fully paid, there will be documentation to be done and we need to liaise with the Bank, and time is required. Please allow a month for the processing of the Discharge.

REDEMPTION PAYMENT

How are you repaying the redemption amount? The cost will be higher if you are wholly or partially repaying with CPF

Mode of Repayment*

Unless you have signed a direct debit authorisation form with Bank, you will be required to procure a Singapore Bank's Cashier's Order to repay the loan.

Require Specific Date to Redeem Loan?*

If you wish to specify the redemption date or have already serve a Redemption Notice, please select "Yes". For Term Loan, Bank usually requires at least 3 Months' notice period.

Specific Redemption Date*

Proposed Redemption Notice Period*

This will be the date in which you make full repayment, and you should check the terms of your Loan. For Term Loan, Bank usually requires at least 3 Months' notice period, otherwise, you will need to pay interest in lieu. Do note that redemption should not take place on Public Holiday, Saturday, Eve of Major Holiday, or near end of month.

BANK

The Bank is your existing Mortgagee in which you took a loan with. Before engaging us, for costs savings, you may wish to check with the Bank if Loh Eben Ong LLP can act for the Bank in the Redemption. We are on the Conveyancing Panels of various major local banks in Singapore. Note that you have to pay for both Bank and your own costs and expense in the Redemption (this is usually prescribed in the Mortgage).

Which Bank?*

OCBC Bank*

OCBC Bank may not appoint us unless you have served the Notice of Redemption through its branch and indicate that you wish to appoint a specific law firm and specify LOH EBEN ONG LLP. Please forward us a copy of the submitted form in due course.

I/We will serve Notice of Redemption at OCBC Branch and indicate your Law Firm of Loh Eben Ong LLP. Noted that appointed of your firm is subject to Bank's discretion.

Non-Panel Bank*

We are not on this Bank's (or Financial Institution) panel, and the Bank may engage another Law firm to act for the Bank and apart from our costs, you will have pay its Law firm's charges. You may contact the Bank directly if it will engage us for the Redemption prior to engaging us. If you still wish to proceed, please confirm below.

Yes, please proceed. I am aware the Bank may engage another law firm at my costs.

TERMS OF ENGAGEMENT

I/We AUTHORISE AND IRREVOCABLY INSTRUCT you to serve a Notice of Discharge / Redemption (as the case may be) on my/our behalf and to act in the discharge / redemption of the Property, and I/we undertake to pay all reasonable legal costs and expenses incurred thereto (as quoted). You may vary the Discharge / Redemption Date if my/our proposed discharge / redemption date is not appropriate.

I/We acknowledge that:

1. [Redemption Only] in the event of any change in the Redemption Date, and/or additional request for the Bank’s Redemption Statement from the Bank, there may be additional charges which shall be borne by me/us personally

2. [Redemption Only] there may be additional administration charges (eg. less than 3 months’ notice), penalties, clawback and other fee(s) charged by the Mortgagee as appearing in the Redemption Statement, and I/we will bear these charges and/or verify these directly with the Bank, if required

3. Bank may not engage LOH EBEN ONG LLP to act for them and may engage other law firm to act for them; and in that event, the additional charges shall be borne by me/us

4. [Payment with CPF Only] any additional charges/expense incurred relating to my CPF funds usage or CPF Board’s Charge should be borne by me/us (unless this has been quoted as part of your fees)

5. if there is more than 1 owner, your taking instructions (verbal, mail or email) from any one of us shall be deemed as instructions from all of us jointly and severally

6. [Corporate (Company) Loan(s) Only] any additional charges/expense incurred by you relating to the lodgment of Statement(s) of Satisfaction at ACRA; Deed(s) of Reassignment and/or other documents shall be borne by the Company

Agree to Terms of Engagement*

Yes

Signature

Please SIGN using touchscreen devices, touch pads or mouse

FILES UPLOAD

Allowed File Formats: jpg, gif, png, pdf, doc, docx
Max Size Per File: 3 MB
Note: Upload may not work in App, but will work with browser in Mobile devices (eg. iOS and Android).

Owners' IDs

Drop files here or

NRIC, Passport, Director's ID (for Company), Business Profile

Title Documents

Drop files here or

If available, upload CT, SSCT, SCT, Lease or Title Search