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FAQ

What is the difference between Simple Credit and Bank Property Loan?

Advantages of Simple Credit

General Bank Loan Terms

．No approval for past Credit Report
．Application process done in one business day
．All types of income certificate
．No need to provide Financial Statements for business
．No penalty charge for early repayment
．Do not affect the Credit Report

．Must have good condition on Credit Report
．Income Certificate in details
．Passing the Repayment Burden and Pressure Test
．At least 2-3 weeks for loan approval
．Need to provide income certificate or pay advice in last 6 months
．Need to Provide Financial Statements in last 3 years for business
．Penalty charge for early repayment

*Customers are required to apply and submit all documents by 11:00am. The actual time required for the loan depends on the type and condition of the property. Simple Credit reserves the right to terminate the loan offer and the final approval of the loan at any time.

What are the advantages of property loan in Simple Credit?
You can only prepare the following documents for application:
Title deed of property / Mortgage Repayment Statement, Rates Statement, Bank Monthly Statement and Any Income Certificate
How long is the repayment period?
The Repayment Period is flexible from 3 months to 10 Years, customers can decide the repayment period depending on the financial status.
Is the loan process handled by a lawyer?
In order to ensure that our clients receive quality and reliable property loan services, we will appoint an established law firm in Central to handle the loan procedures.

Step1
Apply and provide the property information via Telephone, Fax, WhatsApp, E-mail, Online Application or visiting Simple Credit.

Step2
Only takes 15 minutes for initial approval

Step3
Inform the client of the result with the information of interest rate, monthly repayment, etc.

Step4
Visiting to us for applying the loan with documents required

Step5
Signing the contract at law firm after 24 hours and cash will be transferred*

*Customers are required to apply and submit all documents by 11:00am. The actual time required for the loan depends on the type and condition of the property. Simple Credit reserves the right to terminate the loan offer and the final approval of the loan at any time.

How long does the telephone approval generally?
The telephone approval takes about 15 minutes, and customer service officer will inform the client about the result of the approval.
What is net interest? What is capital-interest linked? What is the difference between the two repayment methods?
Net interest: Repaying the interest only monthly, repay the capital after the contract is ended.
Capital-interest linked: Like the bank monthly repayment, repayment including capital and interest.
Can the deed of gift be mortgaged?
Under normal circumstances,
the deed of gift could be used for mortgage after 3 years.
If the property is jointly owned, does the loan could only be applied after agreed by all owners?
Not always. It is not necessary to obtain the consent of all owners of joint properties to apply the loan. The loan application of Simple Credit is simple and can be done by one of the owners.

Please consult with your legal advisor or Simple Credit professional legal team for details.

If the property is a long-life deed and the other owner has passed away, does the property still can be mortgaged?
Yes. We can arrange lawyers to handle the mortgage application. In exceptional cases, we will consider to grant a part of the loan in advance of the probate process.

Please consult with your legal advisor or Simple Credit professional legal team for details.