Responsible Lending
At Plutus, we pride ourselves on the quality of the deals completed through us. A robust assessment will be carried out on the client's profile, borrowing requirements as well as the security property. We will lend based on our own assessment and will not facilitate a loan which we deem to be of high risk. By ensuring that the case meets with our high standards, we help the clients avoid challenges in the future.
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The Responsible Lending principle is applied in all our work making Plutus a reliable, dependable and social-minded funding partner.
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Responsible Lending Considerations
Being a responsible lender means that we act in the best interests of our clients. With the goal of minimising challenges further down the road, we work closely with our clients and brokers to get an in-depth understanding of their funding needs. This ensures that the funding structure is suitable for the client's circumstances.
Security Property
The property provided as collateral for the loan is what we refer to as the Security Property. We accept Singapore based residential and non-industrial commercial property as collateral. While we prefer that security property is provided unencumbered, we will be happy to work out a suitable arrangement if you already have an existing mortgage with a bank.
To ensure that your property is suitable for use as security for a loan, please make sure that all property taxes, service charges and insurance policies are up to date, and any contracts related to the functioning of the property (such as tenancy agreements) are in order.