Document background
The Housing Loan Cancellation Letter is a crucial document used when a borrower wishes to terminate their existing housing loan arrangement in Singapore. This document is commonly required when refinancing with another bank, cancelling a loan before disbursement, or fully settling the loan ahead of schedule. The letter must comply with Singapore's Banking Act and MAS guidelines, providing clear identification of the loan account, property details, and specific cancellation instructions. It serves as legal evidence of the borrower's formal request to terminate the loan agreement and initiates the loan closure process.
