Hi,
1) Current the interest for a mortgage loan from the private banks is around 1.3/4% compare to 2.6% from the HDB.
2) Usually people will take the HDB loan in their first purchase of an HDB flat because of the low down payment benefit.
3) Since your wife already using a private bank, it would be weird to consider in that direction. Moreover, the HDB will not accept your request.
4) If the interest rate from the current bank is high, the main reason would be that your wife didn't do a refinance with the bank. No charges/fees are involved to do this with the same bank.
5) If you wish to contribute to service the loan, you must be one of the owners in order to do that.
6) If this flat now is under Joint-Tenancy, you will need to convert to Tenancy-In-Common and then redistribute the share for each owner in this flat.
7) Legal fees are applicable in order to get this done. You will have to approach a private conveyance lawyer for the fees.
8) By splitting share also known as a part share sale. You may refer to the below on the procedures and guides:
https://www.hdb.gov.sg/residential/living-in-an-hdb-flat/changing-owners-occupiers/change-in-ownership/resale-of-partshare
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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