Can I sell my collateralised parcels in the loan to pay for the loan?

Kindly note that collateral parcels cannot be taken delivery of or sold by the borrower while functioning as collateral on a loan.

Based on our lawyers' review, we will strictly follow a new way for you to "legally" sell the collateral parcels and use the proceeds as the repayment for the loan contract. What will happen is before we can close a Loan Contract, a third party called "Sweeper", will be providing you Loan Advance funds to be used as repayment for the Loan Contract. Kindly note that the "Sweeper" will be charging an additional 0.5% fee of the total Loan Advance funds used and that Silver Bullion cannot waive this as it is a third party providing the Loan Advance funds. Once the Loan Contract is fully paid, we will be able to "legally" close the Loan Contract, and the collateral parcels will be released, which you will be able to sell. The payment for the Loan Advance funds can come from the proceeds of the sellback.

Notes: With regards to the sellback of your secured parcels, we would like to inform you that once the Loan Advance has been applied, our accounting team will sell the parcels in sufficient amounts to pay off the loan. If you wish for us to sell specific parcels, you will have to inform us in advance here in writing on which parcels to sell, or we will sell the parcels based on the highest value.

If you wish to proceed with this option and are agreeable to the terms of the Loan Advance, kindly let us know via a Secure Notification.

Kindly note that the Loan Advance facility will only be processed from 7 AM to 6 PM Singapore time on weekdays and 9 AM to 1 PM Singapore time on Saturdays except public holidays in Singapore.