What are the documents needed for a renovation loan?

When applying for a renovation loan, you need to prepare ahead several required documents to be considered and start your process. This includes a photocopy of the front and back of your National Registration Identity Card (NRIC).

For salaried employees, you should also be able to show your latest income tax notice of assessment, latest payslips for the last 3 months, and latest 15 months CPF contribution history statement. For commissioned earners, you must prepare your latest 2 years income tax notice of assessment and the latest 6 months commission statement. Lastly, for self-employed, be sure to secure your latest 2 years income tax notice of assessment.

Another essential document that you must prepare ahead is your proof of ownership of the property to be renovated. This includes Sales & Purchase Agreement, HDB Sales Order, Property Tax, CPF Property Withdrawal Statement, and/or Title Deed.

Some financial institutions are able to shorten the registration process by syncing with Singpass. With your approval, your details can be filled in automatically.

If you’re opting for a joint application, you must be able to show proof of relationship between the principal and joint applicant like a copy of the marriage certificate (if applying with your spouse). Don’t forget to bring your original quotation or invoice from the contractor which should be duly signed by you, the applicant, and the contractor. Once you have these, you can then start your way to processing your renovation loan.