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Loan And Mortgage Agreement for Singapore

Loan And Mortgage Agreement Template for Singapore

A Loan and Mortgage Agreement under Singapore law is a legally binding document that combines a loan facility with a security interest over real property. It is governed by Singapore's Banking Act, Conveyancing and Law of Property Act, and related legislation. The agreement details the loan terms, including principal amount, interest rates, and repayment schedule, while simultaneously creating a mortgage over specified property as security for the loan. It includes provisions for default, enforcement, and the rights and obligations of all parties.

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Loan And Mortgage Agreement

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What is a Loan And Mortgage Agreement?

The Loan and Mortgage Agreement is essential for secured property financing in Singapore. It is commonly used when a lender provides financing secured against real property, whether for residential, commercial, or industrial purposes. The document must comply with Singapore's strict regulatory framework, including the Banking Act, Conveyancing and Law of Property Act, and relevant Monetary Authority of Singapore guidelines. The agreement typically includes detailed provisions on loan terms, security arrangements, covenants, events of default, and enforcement rights, ensuring protection for both lender and borrower while meeting regulatory requirements.

What sections should be included in a Loan And Mortgage Agreement?

1. Parties: Identification of lender and borrower/mortgagor

2. Background: Context of the loan and security arrangement

3. Definitions: Key terms used throughout the agreement

4. Loan Terms: Principal amount, interest rate, repayment schedule

5. Security Provisions: Details of the mortgage and secured property

6. Borrower's Covenants: Obligations of the borrower regarding property and payments

7. Events of Default: Circumstances constituting default and consequences

8. Enforcement Rights: Lender's rights upon default

What sections are optional to include in a Loan And Mortgage Agreement?

1. Insurance Requirements: Property insurance obligations - used when lender requires specific insurance coverage

2. Guarantor Provisions: Terms applying to guarantors - used when loan includes third-party guarantors

3. Property Management: Requirements for property maintenance - used for commercial properties or specific property types

What schedules should be included in a Loan And Mortgage Agreement?

1. Property Description Schedule: Detailed description of mortgaged property

2. Repayment Schedule: Detailed payment amounts and dates

3. Insurance Schedule: Required insurance details and coverage amounts

4. Form of Notice: Standard forms for various notices under the agreement

5. Condition Report: Initial condition of the mortgaged property

Authors

Alex Denne

Head of Growth (Open Source Law) @ tiktok成人版 | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Jurisdiction

Singapore

Document Type

Loan Agreement

Sector

Banking

Cost

Free to use
Relevant legal definitions









































Clauses



































Industries

Banking Act (Cap. 19): Primary legislation that regulates banking business and lending practices in Singapore. Sets out requirements for licensed banks and financial institutions.

Moneylenders Act (Cap. 188): Regulates moneylending activities in Singapore. Particularly relevant if the lender is not a bank or licensed financial institution.

Conveyancing and Law of Property Act (Cap. 61): Governs real property transactions and mortgages in Singapore. Contains specific requirements for creating valid mortgages.

Registration of Deeds Act (Cap. 269): Specifies requirements for registration of mortgage documents and establishes priority of registered interests in Singapore.

Land Titles Act (Cap. 157): Contains specific provisions for mortgages of registered land and registration requirements with Singapore Land Authority.

Contracts Act (Cap. 53): Establishes general contract law principles in Singapore, including formation and validity of contracts.

Consumer Protection (Fair Trading) Act: Relevant when the borrower is a consumer, contains provisions against unfair practices in lending.

Monetary Authority of Singapore Act: Sets out regulatory requirements for financial institutions and compliance with MAS guidelines.

Housing and Development Act: Contains special requirements for HDB properties if the mortgaged property is public housing.

MAS Guidelines on Fair Lending Practices: Regulatory guidelines issued by MAS governing fair lending practices, including TDSR framework and LTV limits.

Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks, 聽Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination, 聽Severance Pay, Governing Law, Entire Agreemen

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