AskGuru Q&A Community

Get answers from PropertyGuru experts in 24 hours

Asked by
Good day, I would like to ask if i had bought my HDB flat at 260K and value had rose to 400K presently. Can i use the increase value of 140K as a leverage to obtain bank loan to purchase another property? If not, what kind of leverage i can take advantage of? Thanks in advance.
0 •
486 views
Upvote Upvoted
Want this question answered?
Get faster responses from our experts by upvoting.
Be the first to upvote this question.

2 Answers

Geryl Lim
Replied
Dear owner,

It is best if you can approach a banker to assess the situation and find out more on how much the bank can loan you according to your present situation.

Regards,
Geryl LIM
CEA Reg R014783H
Mobile: +65-81577565 
Email: lim.geryl@yahoo.com.sg Read More
0
Upvote Upvoted
Mike Lim
Replied
Afternoon,

As we are not allow to use HDB property as collateral asset, it's unlikely you can benefit much from the appreciation for the valuation, unless you sell it off to purchase another unit.

FYI.
Mike Lim
 96929209 
ERA Read More
0
Upvote Upvoted

Still looking for answers?

Get answers from PropertyGuru experts in 24 hours

Ask Your Question
Previously Asked Questions