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Hi Maam
Loans that disbursed at the time of purchase would not be affected should a younger buyer name be added in the future. In fact I have handled few cases where the buyer's age is unable to cover them till 95 years old and none of them had the maximum loan quantum affected. This is because the pro rated loan quantum is calculated based on the valuation of the unit not the maximum loan quantum granted to buyer. However there is a consequence when one of the owner could not meet the 95 years old requirement in a way that CPF usage will be prorated. This means that you are likely to reach your valuation limit faster and when this happens, you could not use your CPF to finance the loan anymore unless you have set aside a basic retirement sum. I understand this is quite confusing and I will explain in details should we have a chance to meet up. As a first time buyer, you also need be careful in purchasing a flat to ensure you did not incur COV unknowingly which is normal in today's market after the circuit breaker period where demand for resale flat is very high. I am specialised in HDB and provide a free and non obligatory consultation in regards to property transactions in Singapore. Do contact me at 93375051  for a free and non obligatory discussion on this.

Regards
Taufik Hussein
ERA Realty Network Pte Ltd Read More

Hi,

You may text 96200827  for a casual chat.

Regards

Gavin Read More

Hi Miss,

Unless the flat is very very old, I do not forsee any problems on loan by adding your name into it, even if it cannot cover you till age 95.

However, I'm not sure if this is the best move going forward for the 2 of you. Have you explored all possibilities? Perhaps, there could be a better option for both of you to consider?

I am experienced and well-versed in both HDB and private transactions. I will be able to assist you in your property plans.

Should you need require further assistance in matters relating to property, please contact me at my mobile 9748 6305  . I will be happy to assess and share with you the possibilities for you in the current market.

Thank you.

Best regards,
Robbie Chen
 9748 6305 
PropNex Realty Read More