Document background
The Offer Letter Mortgage is a crucial document in Singapore's property financing landscape, serving as the initial formal commitment from a lender to provide mortgage financing. Used when a borrower has successfully passed the preliminary loan assessment, this document outlines all essential terms of the proposed mortgage, including loan amount, interest rates, tenure, and conditions precedent. It must comply with Singapore's robust regulatory framework, including MAS Notices 632 and 645, and typically precedes the formal mortgage agreement. The document is particularly important as it allows borrowers to understand their obligations and serves as a basis for the subsequent formal mortgage documentation.
