Hello wonderful people and a very late late HAPPY 2016 to all of you!
As you might have guessed, life got the better of us and we keep scrambling to keep up with it. So many things have happened since our last post and 2016 seems to be getting busier!
We both had career changes (again?) and we are trying to be as involved as possible with the renovations of our house.
We got our house in October 2015 and we were so sure we were going to move in by Jan 2016. We were going to start the reno almost immediately but we had 1 very major setback.
We try very hard not to take up any loans for obvious reasons of the weight (burden) of repayment and interests. But inevitably, we needed this loan to start things moving. Money is a very sensitive topic but lets face it, we all need a helping hand once in a while.
Being completely transparent, we applied through 1 bank – DBS for our full reno loan as per our quotation from our contractor. It takes about 2 weeks for them to get back to us that it was unsuccessful.
Please keep in mind that both of our salaries meet over the min requirements and other criteria required. But if you’ve tried applying for credit cards or loans from banks, they are usually very generic and vague about the reasons why it was unsuccessful.
We were talking to 1 of our friends about this when she suggested to get a ‘loan assistance guy’. She and her husband also couldn’t get the full amount of reno loan that they wanted until their interior designer recommended them this ‘loan assistance guy’.
Loan Assistance Guy is actually Take One – The Loan Specialist.
When we first met Mr Ong, I immediately asked him –
What is your charge?
What is your guarantee that the loan will be approved?
You can’t be just helping us for free right?
Very Singaporean but I really wanted to make sure!
So Mr Ong explained that he works on commission. If you notice on all your bank pamphlets, there will be a small logo of Take One at the bottom. They are actually the company who will filter through all the loan applications before it reaches the bank. Yes the bank outsourced them. So technically you are working with the person who is going to half approve your loan! His commission comes from these banks with each sign up that comes from them.
He will then check your credit grade, your quotation and your salary for him to tailor-made your loan. With his recommendation, we took out loans from DBS, OCBC and CIMB. It seems like a lot but because our loan is divided into 3 banks, our monthly repayment is lower and after 3 years out of the 5 years we took, we can choose to pay it all off with a small penalty fee of maybe $100? Honestly, meet Mr Ong and he will explain better HAHA! But all in all, the loan approval took about a week and we received our cheques in the mail along with the approval!
You can visit their web to find out more or personally I would just call Mr Ong @ 9188 9992 (Don’t worry I have asked for his permission for this ;p) But please only call him if you are keen cos he really made things happen!
Oh, its also our 10th year anniversary today!
PS: We weren’t sponsored in any way whatsoever to write this, we genuinely think that not many people know about this and if you need to get loan advise or assistance, there’s definitely a place to get it.