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Dear Gurus,

Currently, I have an outstanding HDB concessionary loan to finance a 3-room flat co-own with my brother. I also co-own an EC with an outstanding loan from a private bank. My brother has obtained the keys to his BTO flat and he is transferring his share of the HDB flat to me. I will therefore fully own the flat under the Single Singapore Citizen Scheme. HDB advised that I am no longer eligible for the HDB concessionary loan since I have an EC and have to pay up the entire loan before the transfer. Therefore, can I obtain a bank loan to repay the outstanding HDB loan?

Appreciate if anyone can shed some light on this issue.
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2 Answers

Mike Lim
Replied
Afternoon Louis,

For your current situation, you are in quite a fix. You need to check with HDB on the following: are you required to sell your condo after part purchase from your brother? How much is your outstanding loan? How much time do you have to complete the purchase?
You can do a part purchase from your brother and you should be able to get LTV of 60%, depending on your credit report and income status.

Do feel free to contact me for further assistance.

Regards
Mike Lim
 96929209 
ERA Read More
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Koh Zhen Hon
Replied
Hi,

Regard to your question. Why not you just drop me an email at ot1984pierre@gmail.com or Contact me @ +65 8 2 7 9 8 3 2 7

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Koh Z H
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