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A household with a Singaporean and PR planning to sell and buy and so need to do enhanced contra. Singaporean is a undischarged bankrupt. Can enhanced contra still be possible because HDB website says cannot be done?
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1 Answer

Mike Lim
Replied
Morning,

Enhanced contra facility is only applicable if the sales and purchase unit are both using HDB loan and having HDB to act for their legal processes. Since your spouse is an undischarged bankrupt, it's unlikely that bank will disperse mortgage loan to your requirement. You will then be required to write into HDB to request for market rate loan. Only with such process then will it be possible to utilize enhanced contra facility. However, all applications are subjected to prior approvals.
Regards
Mike Lim
 96929209 
m52i@yahoo.com
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  • SS
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    Thank you for your input. Our current house loan is from bank. If we purchase another flat, there should be enough to cover the cost of the new resale flat so we do not need to take any loan.

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