Name: Greystone Advisory
Address: 114 Lavender Street CT HUB 2 #02-53, 338729, SG
Telephone: +65 8821 5999
Price range: $$$

Understanding Urgent Loans in Singapore

In the unpredictable landscape of life, urgent loans serve as a critical safety net, offering quick access to sums of money during unforeseen financial emergencies. Whether it is an urgent business cash-flow issue, medical emergency, essential home repairs, unexpected job loss, or other financial difficulties demanding immediate attention, the need for urgent financial assistance can arise unexpectedly. Unfortunately, navigating the corridors of traditional lending institutions like banks and credit union becomes an arduous task for many, as they often set strict eligibility criteria. These criteria may include high high credit score requirements, a history of stable employment, and a strong financial record.

For individuals grappling with bad credit history, these stringent prerequisites can be challenging to overcome. It is precisely in these challenging situations that Greystone Singapore takes centre stage, serving as a pivotal bridge connecting individuals with private lenders and offering tailored solutions through Non-Bank Financing Institutions.

Tips for Securing an Urgent Loan in Singapore with Bad Credit

Securing an urgent loan with a bad credit history may seem challenging, but with strategic moves, you can significantly enhance your chances. Partnering with a brokerage firm like Greystone Singapore proves invaluable, as they possess an acute understanding of the unique challenges faced by borrowers with imperfect credit histories. It is essential to grasp key terms such as interest rates and repayment terms, enabling you to make informed decisions aligned with your specific financial circumstances.

Greystone Singapore’s bad credit mortgage loans come with a host of benefits, including generous loan amounts, flexible loan tenures, a high loan-to-value (LTV) limit, low competitive interest rates, swift loan approval, and quick funds disbursement.

Responsible Borrowing and Alternatives

In their role as a responsible brokerage firm, Greystone Singapore goes beyond merely facilitating financial transactions. They ensure that clients align their loan commitments with their financial capabilities, providing guidance to navigate the complex landscape of bad credit mortgage loans. Understanding the potential pitfalls and consequences of default is crucial, considering the cascading effects on an individual’s financial well-being, including damaged credit scores, legal ramifications, and the risk of losing valuable assets. Yet, amidst these challenges, Greystone Singapore emerges not only as a financial facilitator but as a steadfast ally committed to proactively assisting clients in steering clear of such scenarios.

Beyond bad credit mortgage solutions, Greystone Singapore explores alternative financial options, recognising the diverse needs of its clients. The commitment extends to additional financial counselling services, reinforcing its role as a supportive partner in the intricate landscape of urgent financial needs and credit challenges. This ensures that individuals, regardless of their eligibility for specific loans, have access to a variety of resources empowering them to make informed decisions, address financial challenges proactively, and embark on a journey toward enduring financial stability.

Conclusion

While the challenges faced by individuals in Singapore with bad credit seeking urgent mortgage loans are substantial, viable solutions do exist. Greystone Singapore, with its customised solutions and unwavering commitment to aiding those in need, stands as a dependable partner in the journey toward financial stability and security.

For more information and personalised assistance, please visit https://greystone.com.sg/ or contact us at +65 8821 5999 to navigate the complexities of urgent loans and secure a brighter financial future.

Situation 1	BANK’S REPOSSESSION
Deal Type	Refinancing with Fresh Cash-Out
Property	3 Bedroom Condo along Meyer Road
Property Value	$3.2M
New Loan Amount	$2.4M (with fresh cash-out of $500K)
LTV	75%
Synopsis	Customer, age 51, a senior marketing director in the food logistics industry, was being retrenched in August last year without any prior notice. With his wife being a full-time homemaker, he found himself soon having difficulties in servicing his mortgage repayments, resulting in the bank taking steps to repossess the property for a mortgagee sale within a short span of 6 months. Despite only having a $1.4M outstanding mortgage with $600K of CPF usage, the bank was unable to grant him additional cash-out facilities to tide him through this challenging period, as he couldn’t pass the 55% TDSR threshold in the absence of regular reported income.
Solution (1)	Luckily, the customer managed to find us in time and we eventually saved his house from being repossessed. Arranged our private property lender to grant a $2.4M mortgage loan, out of which $1.4M to redeem his existing mortgage, $600K to refund to CPF with remaining $400K fresh term loan for his personal use, which includes servicing of the monthly instalments with the new private lender.
Solution (2)	The customer managed to find a new employment sometime in March this year. We had since successfully helped the customer to refinance the $2.4M from the private lender sometime in September this year.

Situation 3	INHERITANCE DISPUTES
Deal Type	To finance purchase of sibling’s share in the property
Property	Sem-Detached house along Jalan Seaview
Property Value	$$7.5M
New Loan Amount	$2.8M
LTV	37.5%
Synopsis	Customer, age 62, had jointly inherited the above fully-paid property together with his sister when their father passed away sometime in June last year. Both siblings were at constant disagreements regarding the sale of the property. Customer had always wanted to keep the property for future capital appreciation and his sister was in favour of selling the property so that she could use the sales proceeds to fund her new condo purchase.
Solution (1)	Unable to reach a consensus, the Customer then wanted to buy over his sister 50% equity stakes in the property (valued at $3.75M). Customer was unable get the bank to finance his part purchase exercise as he cannot meet the TDSR requirement and loan tenure. We then managed to get our private lender to finance his purchase of his sister’s share with a $2.8M loan (with a 75% LTV against the $3.75M purchase price)
Solution (2)	Separate financing had also been arranged for the remaining $950K cash difference (being the balance of the remaining 25% purchase price), which was secured by pledging part of Customer’s 50% stakes in the property as well.

Situation 2	BANKRUPTCY LAWSUIT
Deal Type	Refinancing with Fresh Cash-Out
Property Type	Detached House in Newton Area
Property Value	$14M
New Loan Amount	$10M
LTV	71.4%
Synopsis	Customer, age 72, was facing one of the biggest challenges as a veteran businessman, when one of his suppliers had filed a bankruptcy application against him (being the guarantor for his group of F&B companies). After successfully obtained the court judgement for a claim-sum of $1.9M, the customer was eventually given 2-month timeline to settle the payment, failing which he would be in imminent danger of being declared a bankrupt, thus crumbling his business empire which he had built for decades. Despite only having an outstanding mortgage of $7.5M (with a 53.5% LTV against its $14M valuation), no bank is willing to explore the fresh financing in view of his age and more importantly, the pending bankruptcy lawsuit.
Solution	Secured a $10M financing (@ 71.4% LTV from a non-bank lender, out of which $8.5M was to redeem his existing bank loan with another $1.9M to be earmarked to be paid to the supplier on the agreed deadline. Remaining $600K was disbursed to the Borrower for his personal use. With the payment made to the supplier and eventual complete withdrawal of the bankruptcy application, we have thus successfully helped our customer to avert the disaster of being made a bankrupt at this age and he can now refocus on rebuilding and restructuring his other business portfolio

Challenge 6	MULTI-PROPERTIES OWNER
Deal Type	Refinancing (with fresh cash-out)
Property	Good Class Bungalow (“GCB”) in Holland vicinity
Property Value	$70M
Existing Mortgage	$28M
New Loan Amount	$50M (with fresh $22M cash-out)
LTV	71.4%
Synopsis	At the age of 60, our borrower stood as a seasoned property investor with a remarkable portfolio of prestigious GCBs and luxurious Sentosa Bungalows. His journey was a testament to years of astute investment decisions. However, even a seasoned investor can face hurdles. Despite his impressive corporate and professional profile, the ever-evolving TDSR regulations had cast a shadow over his aspirations for further financial growth. His own bank had to adhere to these stringent regulations, leaving him unable to access additional facilities.
Solution	With determination and creativity, we set out to secure a $50 million mortgage loan from a non-bank lender. What made this solution stand out was the 18-month interest servicing repayment plan. Now equipped with fresh capital, our borrower could breathe new life into his retail business, expanding it like never before with a $22 million cash-out facility. But our assistance didn’t stop there. We successfully guided the borrower in refinancing the mortgage loan back to a local private bank just nine months after the initial disbursement. This win is a narrative of resilience and adaptability.

Challenge 3	POOR CREDIT GRADING
Deal Type	Refinancing with Fresh Cash-Out
Property	Bungalow in Katong
Property Value	$9M
Existing Loan	$5M
New Loan Amount	$7.5M (with fresh $2.5M Cash-Out)
LTV	83.3%
Synopsis	At 62 years old, our customer faced a roadblock. His aspirations for additional mortgage financing hit a snag as his bank hesitated due to both his age and an unfavorable “HH” credit bureau rating. This rating was a result of overdue credit card facilities amounting to a hefty $1.2 million.
Solution	With a determined spirit, we sought out an alternative path. Through our network of non-bank lenders, we secured a remarkable $7.5 million term loan facility. It was not just a financial transaction; it was a lifeline. The first step was to use $2.5 million of this fresh term loan to clear off the burdensome $1.2 million in overdue credit card facilities. It was a moment of relief, a chance to leave the past behind. But that was not all. The remaining funds were now at our customer’s disposal for personal investments, a fresh start to chase new dreams. This story encapsulates our commitment to finding solutions when doors seem closed. .