AskGuru Q&A Community

Hi,

Firstly have you met the MOP of your HDB? If so, you are eligible to purchase 2nd residential property. You can loan up to 80% of the purchase price, and please note 7% ABSD applies if you are local SC. What are your objectives and requirements ? Thanks and hope to assist with your housing plans further and discuss.

Warm regards
Ivan ERA
 97432395 
Ivanng10@gmail.com
Website: http://www.ivanng10.com/#!reviews/c11r1
(Client's Testimonials) Read More

HI there, you should be able to loan up to 80% LTV for your next property, however you will still be subject to CPF min sum limitation as well as ABSD. there are ways to avoid these limitation , however I will need to understand your situation first before i can advice you accordingly. do drop me a call or e mail for a more detailed discussion before you proceed with your property plans.
Cheers
Rix
 9687 1379 
rix.jim@hotmail.com
Propnex Read More

Dear sir/madam,

Without an outstanding home loan, you will be eligible for up to 80% loan (subjected to TDSR) and do take note of Additional Buyer's Stamp Duty too. Utilisation of CPF is also restricted if you do not have the necessary amount in your CPF if you have utilised your CPF for your HDB. Do take note that since your HDB has not met MOP, you will be ineligible to purchase any residential property even if you have paid up for your HDB. Yoh will also be required to dispose your HDB after condo if you are a non Singapore Citiz household,

There is no restrictions in purchasing a commercial or industrial property, however, CPF cannot be used for these purchase and you maybe subjected to 7% GST depending on the seller.

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Geryl LIM
Real Estate Director
Global Alliance - Masters Of Real Estate
M.O.R.E Property Pte Ltd (L3010548F)
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Hi,
Must met the MOP then allow to purchase private condo. You are allow to loan up to 80% of the valuation. Fyi, ABSD of 7% apply on the 2nd property purchase.
To assist and advise you more in details, kindly drop me an email for me to share.

I am contactable at my mobile or email.

CK Ang
 9046 3808 
res.ckang@gmail.com Read More

Afternoon,

Without existing mortgage loan, you can obtain max of 80% loan, based on your age, income and credit status. However, you need to fulfill the MOP requirement first. And if you are looking at keeping the HDB unit, either of the owner have to be SC.

Do contact me further should you require my assistance.

Regards
Mike Lim
 96929209 
m52i@yahoo.com
ERA Read More

Hi Sir/Mdm,

If you have fully paid up your HDB loan, then you will be eligible for a loan of up to 80%. However, it is better if you can get an In Principal Approval (IPA) first before you start searching for a property as your age and other financial commitments ie car loan will be considered when determining the loan amount.

Some cost you will need to take note is the Additional Buyer Stamp Duty (ABSD) of 7% when purchasing your 2nd residential property.

Please feel free to contact me at 9644 4854  so that I can draft a financial plan and arrange my banker to do an IPA for you.

Regards,
Nick Tan
(M) +65 9644 4854 
B.Eng(Chemical)(Hons)(NUS)
Cert-in-REA
(E) nicktan@propertyavenue.com.sg
(W) www.nick-tan.com / www.propertyavenue.com.sg

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“Nick from Property Avenue has conducted himself ethically and professionally when handling the sales of our property. Thanks to his patience and perseverance, we managed to secure a sales price beyond our expectations.

We are very happy and satisfied with his services and will definitely recommend him to our friends and family in the future.”
Mr & Mrs Tan (Seller of Inter-Terrace House)

“Nick is a responsible, efficient and excellent salesperson. He has very good knowledge of the real estate market and I benefitted a lot from his advice and sharing. He is extremely patient when guiding me through the buying process and I am happy to secure a dream house within my budget with his assistance. A highly recommended salesperson who made my house hunting journey a breeze.”
Ms Chia (Buyer of HDB)

“Nick provides a delightful customer experience from day one when I engage him as my agent to look for a flat of my choice to the completion of the deal. He is competent, resourceful and has a pleasant manner to work with. He is the Agent of my choice in dealing with properties and I would highly recommend him to others who would appreciate an agent that takes care and can give the customer a peaceful mind.”
Susana (Buyer of HDB) Read More

A Good Day to you and Thank you for your query,

As my colleagues have mentioned, the applicable MOP has to be fulfilled before considering purchasing another private property while retaining the existing HDB.

To provide an estimated Cash Flow and estimated loan amount for your next private property or condo, kindly private message me the following info:
1. Age and residency status of both
2. Monthly Income and fixed bonuses of both
3. Rental income or other type of income, if any
4. All existing debt such as car loan, student loan, credit card loan (latest minimum payment amount for credit card that has not been fully paid on a monthly basis)
5. CPF amount in SA and OA and cash on hand, please indicate whether any CPF has been utilised in both your CPF accounts for the purchase of the existing HDB

As we do not get prompted when you respond here, kindly contact us directly should you require additional information.

Thank you and have a pleasant week ahead.

Warm Regards,
Karrien N. Chan
CEA Reg. No.: R052532H
Mobile: +65 82250212 
Email: karrien.realty@yahoo.com

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Good morning buyer,

I am afraid to inform you that you have to fulfill your MOP first before you are eligible to purchase a private property.

May I know when's your MOP date?

Do take note that if your household is SPR, you have to dispose off your HDB within 6 months from TOP or key collection date.

If your household has at least 1 Singaporean, you can hold on to both properties. if both are Singaporeans, you will be subject to 7% additional buyer's stamp duty.

You will be able to loan up to 80% as you dont have any outstanding housing loan.

Hope my explanation helps!

If you need further assistance or advice in your property purchase in the future, feel free to contact me. Cheers!

Warmest Regards,
YT TAN 陈永达 | ACCA Graduate, RES
Vice President (Agency)
R043025D
Property Avenue Pte Ltd
Estate Agent no. L3010650D
Blk 420 North Bridge Road #03-30 North Bridge Centre S188727

(M): +65 9111 5171 
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