# Fast Property Loan Singapore: What Late Completion Interest Costs

Insights article · Singapore · Published 2026-11-10

> Completion has passed and the seller is charging interest. A fast property loan Singapore buyers use at this point funds completion against the asset, typically in 2–3 weeks, so the daily penalty stops.

You are past the completion date. The seller's solicitor has started charging late completion interest, and the completion monies are not there. That is a daily cost, and on a sub-sale it can become rescission and a forfeited deposit.

The fast property loan Singapore buyers search for at this point is not a cheaper mortgage. It is short-term money against the property, sized to complete, so the contractual penalty stops.

The arithmetic is blunt. Every further day past the completion date, you pay the seller on the unpaid balance of the price. A three-month private facility, even at a higher rate, is often the cheaper way to cut that off.

> **Why this matters:** Once you are late, you pay the seller every day and you risk the deposit; stopping that clock is what the facility is for.

## Highlights

- Late completion interest runs from the contractual date, whatever stage your financing has reached.
- Daily seller interest, plus rescission and deposit risk, can outrun the cost of a three-month private facility.
- We underwrite against the asset and the exit, not income, so TDSR does not gate the loan.
- Term sheet in 24 hours; drawdown typically 2–3 weeks, and inside 7 days when the file is urgent.
- Loan size $1M – $100M, up to 70% LTV; Accredited Investors and corporates only. Terms are indicative.
- [Talk to a specialist](https://www.rikvincapital.com/sg/contact-us)

## What late completion interest actually costs

The Option to Purchase fixes a completion date. Once it passes, most Singapore contracts let the seller charge interest on the unpaid price until completion monies arrive. The rate sits in your OTP and, typically, the Law Society Conditions of Sale.

Read that rate with your solicitor. This is not legal advice.

What matters for cash is the base. Seller interest is charged on the unpaid balance of the price, every day you are late. A private loan is charged on a smaller sum: up to 70% of valuation, for a tenor of 3–24 months, with interest often rolled up.

Then there is the cost that is not interest: extra solicitor time, a seller who will not extend, and on a sub-sale an upstream vendor who can rescind and keep the deposit. Those losses dwarf a short facility.

The same clock runs on a mass-market condo, a shophouse, or a GCB. [Condominium bridging loans](https://www.rikvincapital.com/sg/bridging-loans/condominium-bridging-loan) are used for this gap as often as landed files. The asset class changes the valuation, not the seller's timetable.

## How to stop the clock

Only one thing ends the charge: completion monies in the seller's solicitor's hands. So the question is which source of funds can be documented, valued and drawn against the security you already have.

Bank financing in Singapore is tested against [the TDSR framework](https://www.mas.gov.sg/regulation/explainers/tdsr-for-property-loans) on declared income. Variable pay, overseas income, a recent bonus, or a company without two years of accounts can make that test hard to pass. None of it moves the seller's date.

Rikvin Capital is a direct private lender operating as an excluded moneylender under the Moneylenders Act, lending only to accredited investors and corporates. We are not a bank and not bound by TDSR. We lend against the asset and the exit, on a first charge.

An indicative term sheet can go out in 24 hours, with drawdown typically in two to three weeks, and inside seven days when the file is urgent and complete. [What happens between enquiry and term sheet](https://www.rikvincapital.com/sg/insights/24-hour-bridging-loan-singapore-term-sheet) is the sequence, not a slogan.

Buyer's stamp duty and, where it applies, additional buyer's stamp duty fall due within 14 days of exercising the Option to Purchase, not on completion. So by the time you are late, that cash has usually already gone out. Budget accordingly. We do not advise on tax.

![Singapore condominium facade where a purchase must still complete on the OTP date](https://media.rikvincapital.com/rikvin-media/unsplash-1790388168563-8574-1200x630.jpg)
*A completed condo still has a completion date; the bank's income test does not move it.*

## When a fast property loan is the right tool

Use a fast property loan in Singapore when you have a dated completion problem, real security, and a clear exit. That exit is usually the sale of another property, a refinance once income can pass TDSR, or a business event that repays the facility.

[A bank loan versus a private bridging loan](https://www.rikvincapital.com/sg/insights/bank-vs-private-bridging-loan-singapore) sets out the trade-offs if you are weighing both.

Do not use it if there is no exit. A 24-month tenor is not a substitute for a sale that is not happening. If you cannot show how we are repaid, this is the wrong product.

The same [Singapore bridging facilities](https://www.rikvincapital.com/sg/bridging-loans) are used for condo, GCB and shophouse files. The underwrite does not change: asset, exit, valuation.

The main risk is time. The loan is 3–24 months, and if the exit slips you need another plan before expiry. You pay more than a bank mortgage: you pay for speed and for an underwrite that is not gated by TDSR.

[How the lending process works](https://www.rikvincapital.com/sg/process) is the practical next read if the OTP is already in default. Related: [how we delivered $25 million over a weekend for an acquisition that could not wait](https://www.rikvincapital.com/sg/case-study/weekend-rescue-how-we-delivered-25-million-bridge-funding-for-a-billionaires-acquisition).

A TDSR-blocked borrower with equity in the purchase still has a file. Income is not the gate. The gate is a credible exit and a valuation that supports the LTV.

## Frequently asked questions

### Can I get a fast property loan if completion is already late?

Yes. Late completion is the usual trigger, not a bar. We lend against the asset and your exit. A term sheet can follow in 24 hours, with drawdown typically in two to three weeks, or inside seven days if the file is ready. Terms are indicative and subject to valuation.

### Does applying stop the seller's interest?

No. Interest runs until the seller receives completion monies. An application or a term sheet does not stop the clock. The aim is to draw down, complete, and cut off the daily charge. Until funds reach the seller's solicitor, the rate in your Option still applies.

### Will TDSR block the loan if my bank already said no?

No. Rikvin is not a bank and is not bound by TDSR. We lend to accredited investors and corporates against the property and a documented exit. A bank decline on income grounds is often why the file arrives. Terms remain indicative and subject to valuation and due diligence.

### Is a short private loan cheaper than paying the seller?

Often, once you run the daily contractual interest against a short tenor on a partial LTV. It depends on the rate in your Option, the unpaid balance, and how many days you are late. Compare both with your solicitor. We do not give legal or financial advice; we can price an indicative facility against the asset.

### What if the seller has served notice to complete?

If notice has gone, your solicitor leads. A private lender can still fund completion if the contract remains on foot and the security and exit are sound. There is no guarantee of timing or approval. Term sheets are indicative and subject to valuation and due diligence.

The expensive day is not the day you draw on a private facility. It is every further day the seller's interest runs on the unpaid balance, and the day the seller decides not to extend.

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