Case Study · Singapore

Rikvin Capital Solves TDSR Issues with Refinancing for Oceanfront Bungalow in Sentosa, Singapore

22 November 2019

Rikvin Capital Solves TDSR Issues with Refinancing for Oceanfront Bungalow in Sentosa, Singapore

Rikvin Capital refinances an oceanfront bungalow for a client with TDSR issues

A client in Sentosa, Singapore had a valuable oceanfront bungalow but was facing issues with their TDSR. They needed extra funds for a business capital injection and their bank had reached its maximum loan-to-value of 50%. Rikvin Capital recognized the unique value of the property and offered a higher loan-to-value of 70%. The client refinanced with Rikvin Capital and the mortgage was taken over from the bank. After a short time, the client was able to sell the property for a profit and repay the loan.

Rikvin Capital provided a solution for the client’s financial needs by offering a higher loan-to-value and taking over the bank mortgage. This allowed the client to access the necessary funds for their business and take advantage of a profitable investment opportunity. The refinancing process was completed quickly, within 14 days, and the loan was structured with monthly interest payments.

Problem

  • Our client needed extra funds for business capital injection
  • The mortgage amount with our client’s bank was at its maximum loan-to-value (LTV) of 50%

Solution

  • Rikvin Capital realised the unique value of the property and was able to offer a higher LTV of 70%
  • The individual refinanced with us and Rikvin Capital took over the bank mortgage
  • Shortly after, the individual sold the property for a profit and paid back the loan.
  • Location: Sentosa, Singapore
  • Market Value: S$ 17,500,000
  • Loan Amount: S$ 12,000,000
  • Loan-to-Value: 70%
  • Duration of Loan: 12 Months
  • Payment Schedule: Monthly Interest Payment
  • Asset Type: Bungalow
  • Completion Time: 14 Days

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FAQ

My bank is capped at 50% LTV on my Sentosa bungalow. Can Rikvin Capital lend more?

Yes. The case here refinanced an oceanfront Sentosa bungalow from a bank at 50% loan-to-value to Rikvin Capital at 70%, releasing capital for the client's business. The bank had hit its TDSR ceiling; we underwrote the property value and the client's exit (eventual sale) rather than monthly income.

How quickly can a Sentosa bungalow refinance complete?

14 working days is typical for a clean refinance, as in this case. The timeline covers valuation, title search, payoff coordination with the existing bank, and legal completion. Funds are released the same day the existing bank mortgage is discharged.

Can I sell the property to repay the loan?

Yes. Sale of the secured property is one of the most common exits. The Sentosa borrower in this case sold the bungalow at a profit during the loan term and repaid us from the sale proceeds. There are no early-repayment penalties on partial or full redemption.