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Dear Gurus,

I am owning a condo under my name and my father's name. We are taking bank loan.

My boyfriend and I planning to buy another condo under his and my name. Is there any restriction and are we violate the rules?

Are we still able to apply for bank loan? As my boyfriend is the first timers.

Please suggest me on other alternatives.

I am really confused by recent changes in housing rules. Please help.

Thank you.
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2 Answers

William Koh
Replied
Hi Lynn,

Does your boyfriend hold any mortgage loan under his name? If yes, the max bank loan that you & your boyfriend plan to take might be only 60%.

Cheers,
William Koh
 9027 1972 
willkck@gmail.com
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Mike Lim
Replied
Afternoon Lynn,

As you are currently servicing a bank loan for the condo that you have purchased with your dad, the upcoming loan for the purchase with your boyfirend would be caps at 60%.

As for the possible details or other alternatives, I reckon it would be better if you can contact me via my email or mobile.

Regards.
Mike Lim
 96929209 
m52i@yahoo.com
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