FOR DEBTORS

Final secured loan settlement

24 July 2021

If you have received a secured mortgage or business loan and you are facing difficulties, you may proceed with final debt settlement. We help you repay your loan by selling or transferring your property.

Voluntary sale of property

If you have found a buyer for your mortgaged property, you may repay your loan with the amount received after selling the property.

In case of any outstanding amount after the sale, we review it for settlement. This outstanding amount may be waived either in part or in full.

To determine the settlement and possible waiver, we review your financial information.

How you benefit

You may find a buyer who will buy your property at the best possible price to repay your mortgage loan. You know the price right from the start and you have time to negotiate.

In the meantime, if you are consistent with your mortgage loan repayments, you remain solvent.

Settlement with property sale agreement

If you wish to sell your mortgaged property, but have not found a buyer yet, we review your property and help you in your search. Once a buyer is found, you may repay your loan with the amount received after selling the property.

In case of any outstanding amount after the sale, we review it for settlement. This outstanding amount may be waived either in part or in full.

To determine the settlement and possible waiver, we review your financial information.

How you benefit

You receive assistance in finding a possible buyer. You also reach an amicable settlement for your loan. Your property is valued at fair price.

Your overall debt is reduced. Any outstanding amount may be waived either in part or in full.

Voluntary transfer of property

If you cannot find a buyer for your mortgaged property, you may agree to transfer it to the bank. The loan is repaid upon completion of the transfer.

For voluntary transfer, the property must meet certain criteria.

In case of an outstanding amount after the transfer, we review it for settlement. This outstanding amount may be waived either in part or in full.

To determine the settlement and possible waiver, we review your financial information.

How you benefit

No need to look for a buyer. You also reach an amicable settlement for your loan. Your property is valued at fair price.

Your overall debt is reduced. Any outstanding amount may be waived either in part or in full.