3 Answers

Hi,

Unfortunately no, to be the borrower of the home loan, you also need to be one of the owners of the property. This means you will have to sell your current HDB as one household cannot have 2 hdbs at any one point of time.

May I have more info and requirements about your plans so to make better recommendations? Thanks and look forward to value-add to your housing plans.

Warm Regards,

Ivan Ng Realtor
ERA Senior Marketing Director
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I would like to compliment Mr Ivan Ng for his professional work and effort.I sent my first post in Jan 2019 and Ivan replied promptly, so I have decided to contact Ivan for follow up. My EC was not ready for sale due to MOP (another 3 months from Jan) at that time and Ivan was able to give me advices on how to proceed from there. Initially we have decided to try to write to HDB for early sale but since it was only 3 months left, eventually we waited for another 3 months while we looked for our next property. Ivan was able to arrange for new property showroom appointment at a timely manner while helping us to list for our EC for sale. We were a bit worried when our EC sale time was longer than expected due to trade war, but Ivan was able to reassure us that our EC would sell. By November, he managed to secure a buyer for our EC. Thank you.

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I would like to express my appreciation to Ivan Ng for his excellent work. Ivan is a dedicated, client-focused, patient and sincere agent. Throughout the whole process of selling and looking for our next property, he has always acted very professionally that makes my wife and I feel at ease and assured. Ivan is not a pushy and hard sales agent. Ivan listens and understands our needs and carefully guided us through. We are fortunate to have Ivan as our agent. Thank you Ivan. Read More
0
Hi,

1) Your dad is eligible to buy his own flat as long as he is a Singapore citizen under the HDB policy.
2) However you won't be able to get a loan on his behalf. Only the owner of the property is able to get a mortgage loan. Since under today's policy every citizen is only allowed to own 1 HDB flat therefore you are not able to assist him in this manner.
3) Even if you wish to buy him a private property your 2nd mortgage loan is limited to 45% LTV under the current MAS policy.
4) The cheapest HDB flat your dad could consider is the 2-rm Flexi BTO which cost as low as $72k, which was available in Choa Chu Kang in the last BTO exercise (Nov 2021). It could be lower if the lease chosen is as low as 30yrs.
5) There are 2 difficulties of buying such an HDB flat are:
(a) Your dad has only bought BTO/SBF once and received any grant, meaning only enjoyed govt housing benefits once.
(b) This purchase must be fully paid, no mortgage is available for this purchase.

Hope the above answer your main concerns, but if there are more query, please feel free to contact me at 90110636  , or email: ling.ck7@gmail.com if more information is needed.
I'll be glad to assist.

Best regards
Ling CK
 90110636 
ling.ck7@gmail.com
https://R056727F.propnex.net/
https://www.facebook.com/Homesellerbuyer

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1
Robbie Chen Chee Howe
Hi,

I'm sorry to inform that this is not possible. You will need to be a co-owner of the flat if you wish to take up a loan for the HDB flat. This means that you will have to sell off your own flat latest within 6 months upon the new flat purchase.

I am experienced and well-versed in both HDB and private transactions. I will be able to assist you in your property plans. Please get in touch with me for a more in-depth discussion.

Should you need require further assistance in matters relating to property, please contact me at my mobile 9748 6305  . I will be happy to assess and share with you the possibilities for you in the current market.

Thank you.

Best regards,
Robbie Chen
 9748 6305 
PropNex Realty Read More
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