When the Bank Says No
Your Property Still
Says "Yes"
When Banks Move Slow
or
Say NO
What Is a Non-Bank Mortgage Loan in Singapore?
A non-bank mortgage is a property-secured loan arranged through a financial institution outside the traditional retail banking system. In Singapore, this includes licensed moneylenders regulated under the Moneylenders Act, finance companies licensed by MAS, private credit funds, and institutional lenders operating outside the public banking infrastructure.
Non-bank mortgage lenders are not subject to the same MAS regulatory framework as retail banks; they are not bound by the Total Debt Servicing Ratio (TDSR) cap of 55%, nor the Loan-to-Value (LTV) restrictions imposed on bank mortgages by MAS Notice 632. This gives them significantly more flexibility to assess each borrower's case on its individual merits, with a focus on the property's current value and the borrower's realistic repayment capacity — not just a credit score or a payslip.
Non-bank mortgage loans in Singapore are used for a range of purposes:
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Purchase Financing — Acquiring residential or commercial property when bank financing is unavailable or insufficient.
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Mortgage Refinancing — Replacing an existing bank or non-bank mortgage with a new facility, often to lower monthly repayments, restructure the loan, or access more favourable terms.
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Equity Cash-Out — Unlocking the capital appreciation built up in a property by borrowing against its current market value without selling.
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Caveat Loans — Short-term secured financing achieved by lodging a legal caveat on the property title, enabling very fast disbursement — often within 3 to 5 working days.
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Bridging Finance — Short-term capital to cover the gap between the purchase of a new property and the proceeds from the sale of an existing one.
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Debt Consolidation — Using property equity to pay down high-interest unsecured debt such as credit card balances and personal loans, replacing multiple obligations with a single structured repayment.
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Mortgage Distress Resolution — Refinancing an existing loan in arrears to prevent foreclosure or forced sale, buying time to stabilise financially.
Non-bank mortgages are legal, regulated (where applicable), and a recognised part of Singapore's property financing ecosystem.
They exist to serve the borrowers and situations that the mainstream banking system — by design — cannot accommodate.
Who Qualifies for a Non-Bank Mortgage in Singapore?
A
Self-Employed, Freelancers, and Business Owners
Traditional banks assess income using NOA (Notice of Assessment), CPF contribution history, and payslips. If you run your own business, work on retainer, earn commission-based income, or have variable monthly cash flow, banks routinely understate your real earning capacity.
Non-bank lenders assess your income differently — factoring in actual bank statement deposits, business revenue patterns, and the overall cash flow picture.
For Singapore's growing class of directors, sole proprietors, and commission earners, this distinction is critical.
B
Borrowers Declined by Banks
A rejection letter from DBS, OCBC, UOB, Standard Chartered, or any other retail bank does not close the door on property financing.
It simply means that specific lender's criteria — typically shaped by internal credit scoring models and MAS guidelines — were not met.
Non-bank lenders apply their own independent underwriting frameworks.
What a bank declines, a private lender may approve — particularly where the property is strong collateral.
C
TDSR-Affected Borrowers
Singapore's TDSR framework limits total monthly debt obligations to 55% of gross monthly income.
For borrowers with existing credit card debt, car loans, personal loans, or multiple mortgages, this ceiling is easily reached.
Non-bank lenders are not subject to TDSR, meaning they can assess your application based on what your property is worth and what you can realistically repay — not an arbitrary formula applied to your gross income.
D
Borrowers Needing Urgent Financing
A bank mortgage takes two to four weeks — often longer — to approve and disburse.
When you're facing a time-sensitive opportunity, a seller's deadline, a cash flow emergency, or a debt clearance requirement, that timeline is not workable.
Non-bank mortgage approvals can be delivered within days. Caveat loan structures in particular are designed for speed, with disbursement achievable within 3 to 7 working days of document submission.
E
Homeowners Facing Mortgage Distress
If you have missed repayments, are in arrears with your current lender, or are receiving pressure from your bank about the status of your mortgage, refinancing through a non-bank lender can provide a critical lifeline.
Devise has helped homeowners facing foreclosure threats restructure their financing, clear arrears, and restore their repayment track record — protecting both their property and their financial standing.
Non-Bank Mortgage Solutions, Structured Around Your Situation
Non-Bank Mortgage Refinancing
Refinancing a mortgage means replacing your existing loan with a new one — either from a different lender, or on restructured terms.
For many Singapore property owners, refinancing through a non-bank lender is not a last resort but a strategic decision.
If your current bank mortgage is coming to the end of its lock-in period and your profile no longer qualifies for favourable bank rates, a non-bank refinance gives you an alternative route. It can lower your monthly repayments, consolidate your debt, or buy you time while you rebuild your eligibility for mainstream financing.
Devise analyses your existing mortgage structure, your current lender's terms, any early redemption penalties, and the available non-bank refinancing options in the market — then present you with a clear recommendation, not a sales pitch.
Common reasons clients refinance through non-bank channels:
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Bank declining to renew the existing mortgage at the end of the lock-in
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Monthly repayments becoming unsustainable; seeking a lower instalment
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Existing mortgage in arrears; seeking to clear before foreclosure
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Change in income profile (e.g., resignation to start a business), making bank renewal unlikely
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Desire to consolidate multiple debts into a single secured facility
Cash-Out Equity Loans
Your property is not just a home or an investment — it is a financial asset that may be sitting on significant unrealised capital. As Singapore property values have risen substantially across most districts over the past decade, many owners are sitting on equity they haven't touched.
A cash-out equity loan allows you to borrow against that equity without selling the property. You retain full ownership while unlocking liquidity for investment, business capital, renovation, education fees, debt clearance, or any other purpose.
Non-bank cash-out loans are particularly powerful because:
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They are not bound by TDSR, allowing higher borrowing relative to income
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They assess the current open market value of the property, not the original purchase price
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They can be structured as standalone loans or layered onto an existing mortgage
Typical uses of property cash-out loans in Singapore:
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Business capital injection or working capital top-up
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Funding a new property acquisition (as bridging or top-up finance)
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Renovation or asset enhancement prior to sale or rental
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Investment in equities, private placements, or other asset classes
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Clearing credit card debt, renovation loans, or unsecured personal debt
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Family financial obligations — school fees, medical expenses, estate settlement
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Devise structures for each cash-out solution around your property's valuation, your existing encumbrances, and your intended use of funds.
We present options, not pressure.
Caveat Loans
A caveat loan is a short-term, property-secured loan in which the lender registers a legal caveat against the borrower's property title with the Singapore Land Authority (SLA). The caveat serves as the lender's security interest — preventing the property from being sold or transferred without the lender's consent until the loan is repaid.
Because the security is registered directly against the title rather than processed through standard bank mortgage conveyancing, caveat loans can be structured and disbursed significantly faster than conventional property loans.
Key features of caveat loans in Singapore:
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Disbursement is achievable within 3–7 working days of documentation
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Suitable for both private residential and commercial property
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Available to borrowers who may not qualify for bank or standard non-bank mortgage products
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Ideal for business owners needing emergency working capital
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Often used as bridge financing while longer-term solutions are arranged
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Loan amounts are typically linked to 50–75% of property valuation
Caveat loans are not permanent solutions — they are typically structured for 6 to 24 months, with a clear exit plan.
Devise always plans your exit from a caveat loan from day one: whether that means transitioning to a term non-bank mortgage, refinancing back to a bank once eligibility is restored, or redemption upon property sale.
How Devise Arranges Your Non-Bank Mortgage
Step 2 — Assessment
Devise evaluates your case: property type, current valuation, existing encumbrances, your income profile, and your stated objective. We cross-reference this against our lender network to identify the institutions whose lending criteria are the strongest match for your case — not just one lender, but a shortlist of real options.
Non-Bank Mortgage Rates, LTV, and Terms in Singapore
Non-bank mortgage interest rates in Singapore are higher than retail bank rates. This is understood and expected — the premium reflects the flexibility, speed, and risk appetite that non-bank lenders bring to situations banks will not touch.
For borrowers who cannot access bank financing, non-bank rates represent not a penalty but an access fee — a cost worth paying to unlock capital when other doors are closed.
Interest Rate Range:
Non-bank mortgage interest rates in Singapore typically range from 6% to 8% per annum, depending on the following factors:
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Loan-to-Value (LTV) requested — Lower LTV carries lower risk and typically attracts better pricing
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Property type and quality — Freehold private residential in a prime district will be priced better than a short-lease commercial unit
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Borrower credit and repayment profile — A self-employed borrower with clean bank statements may attract rates closer to the lower end of the range
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Loan tenure — Shorter tenures (12-24 months) may attract more competitive rates on certain structures
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Lender type — Licensed moneylenders, finance companies, and private credit funds each carry different rate profiles
Loan-to-Value (LTV):
Most non-bank lenders in Devise's network will finance between 70% and 90% of the property's current open market value for private residential assets.
Commercial properties, industrial properties and short-lease properties may attract lower LTV. For clients with very strong collateral or low LTV requirements, terms can be more favourable.
Loan Tenure:
Non-bank mortgages are generally structured as short-to-medium term facilities:
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Caveat loans: 6 to 18 months
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Term non-bank mortgages: 1 to 20 years
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Equity cash-out facilities: 1 to 2 years typical
Unlike bank mortgages (which run 15–30 years), non-bank mortgages are designed as structured, purposeful instruments — not permanent financing. The long-term objective is always to transition back to bank financing at a lower rate, redeem the facility, or restructure once the borrower's profile improves.
A Note on Cost vs Benefit:
A non-bank mortgage at 10% per annum for 12 months on a S$500,000 loan costs approximately S$50,000 in interest. That is a meaningful cost. However, for a business owner who needs S$500,000 in working capital to execute a contract, avoid a cash flow crisis, or prevent the forced sale of a property — the cost of NOT financing can be substantially higher.
Devise helps you evaluate this equation clearly, so you can make an informed decision.
Property Types Accepted for Non-Bank Mortgage
Devise works with non-bank lenders across the full spectrum of Singapore property types. All assets are assessed on the merits of their current valuation, existing encumbrances, lease tenure, and market liquidity.
Private Residential — Condominium and Apartment
Commercial Property — Retail, Office, Strata
Shophouse (Commercial / Mixed Use)
Landed Property
Industrial Properties (B1 and B2)
Properties with Encumbrances
Why Singapore Property Owners Choose Devise
Devise does not lend money directly. We are a capital consultancy — which means our job is to work for you, not for any lender.
We assess your case independently, match it to the right lender in our network, and structure the proposal in your interest.
This independence is what separates Devise from going directly to a single lender.
We Are a Consultancy, Not a Lender
We work with more than 20 vetted private and licensed lenders across Singapore, spanning licensed moneylenders, finance companies, and private credit funds.
When you bring your case to Devise, we match it across multiple institutions simultaneously — giving you competitive options, not a take-it-or-leave-it offer from one source.
A Real Lender Network, Not a Single Institution
We do not simply forward your file. We structure how your case is presented — the loan quantum, LTV requested, tenure framing, and documentation package — to maximise your approval likelihood and minimise your cost of borrowing.
This is the difference between a broker and a consultant.
Strategic Structuring, Not Referrals
Every non-bank mortgage Devise arranges comes with a planned exit. We do not want you paying non-bank rates a day longer than necessary.
From the moment we structure your facility, we also map the timeline and steps to restore your bank eligibility — whether that is regularising income documentation, clearing credit obligations, or building a repayment track record — so you can refinance to a bank mortgage at a lower rate as soon as possible.
Exit Strategy Built In From Day One
There are no upfront assessment fees. Our professional fees are disclosed clearly before any formal engagement.
We do not receive undisclosed commissions or hidden incentive payments from lenders.
What we tell you is what the deal is.
Transparent Fees and Full Disclosure
Many of our clients are business owners, company directors, and high-net-worth individuals for whom discretion is not optional. Devise handles every case with strict confidentiality. Your information is not shared with any party without your explicit consent.
Confidentiality as a Non-Negotiable
Frequently Asked Questions
A bank mortgage is issued by a retail bank regulated under the Banking Act, and is subject to MAS rules including TDSR (Total Debt Servicing Ratio), LTV (Loan-to-Value) restrictions, and strict income documentation requirements. A non-bank mortgage is issued by a licensed moneylender, finance company, or private lender — and is not subject to the same MAS framework. Non-bank mortgages are faster to approve, more flexible in their assessment criteria, and suited to borrowers whose profiles fall outside standard bank underwriting. The trade-off is a higher interest rate.
In urgent cases, funds can be released within 5–7 working days after document submission and valuation.
This makes caveat loans ideal for urgent debt clearance, business capital, or time-sensitive opportunities.
No. Devise evaluates your application based on property and repayment history, not your existing bank credit score.
Our goal is to help rebuild your financial standing through responsible, structured lending.
Yes. Devise specializes in helping self-employed, freelancers, and business owners who may not have traditional income proof but own valuable property assets.
We accept all private residential, commercial, shophouses and industrial properties.
Each property is assessed based on current market valuation, caveats, and encumbrances.
Yes. In fact, this is one of the most common reasons clients come to Devise. Mortgage distress — missed repayments, arrears, letters of demand — does not automatically disqualify you from non-bank refinancing. What matters is whether the property carries sufficient equity to support a new facility that clears the arrears and leaves a sustainable repayment structure. Early engagement gives you more options: contact Devise as soon as the situation arises, not after foreclosure proceedings have begun.
Typically, you can access the maximum up to 90% of your property’s current value, depending on valuation and loan structure.
Our team tailors solutions to balance maximum cash release and sustainable repayment terms.