You will be allowed to purchase a condo after you met your MOP depending on when you purchased your HDB.
However, if you are still serving the loan on your current HDB, your loan-to-value limit may be 60% instead of 80%. In another words, you can only take 60% loan for the condo you are buying.
Buying a second property requires prudent financial planning.
Do give me a call if you need any advice.
Senior District Manager
ECG Property Novena District
Mobile: 9644 4854
Email me @ email@example.com
Read my Blog @ nick96444854.blogspot.com
For new flat, you have to fulfil MOP period before you are allowed to buy private property.
For resale flat after 30 Aug 2010, you have to fulfil MOP period before you are allowed to buy private property.
For resale flat purchased without CPF grant before 30 Aug 2010, there is no need to satisfy the required occupation period for the flat before acquiring private residential property. But you must continue to stay in your HDB flat until the MOP period is over. The private property should only be for investment.
Do call me at (65)-9745-5178 or email firstname.lastname@example.org for clarifications.
Thks & regards,
Mike Tay (郑树荣)
B.Sc. (NUS), EMBA (SUNY)
M: +65 97455178
HSR International Realtors Pte Ltd
Estate Agent Reg No: L3002226G