Once you have decided on the package, an application form for housing loan, together with all the relevant documents are submitted to the banker for processing. The bank will then decide on how much loan and loan tenure to grant you and come up with a Letter of Offer(LO). This letter usually takes about 1 week to generate, depending on bankÂ and complexity of case. The banker will explain all the terms and conditions of the loan and the document will be signed by you if agreeable. Once signed, it is legally binding. The bank will then issue a Letter of Instruction and get an appointed law firm to act on their behalf. Some lawyers on the banks panel can act for both the bank and you, the buyer. Saving double legal fees. Do consult us for this group of panel lawyers.