Document background
The Authorization Letter for Housing Loan is a crucial document in Singapore's property financing process. It is required when individuals seek housing loans from financial institutions and need to formally authorize the bank to process their application. This document complies with Singapore's strict banking regulations and property laws, including MAS guidelines and the Banking Act. It typically includes personal details, property information, loan specifications, and explicit authorization for information verification. The letter is particularly important in Singapore's regulated housing market, where both private and public housing (HDB) transactions require careful documentation and compliance with financial regulations.
