3 Answers

askguru expert

I would be most glad to assist you further and please feel free to let me know if you need any assistance. Have a good day ahead. By the way, if your dad will to take over your mother’s share of the flat, then he must have the means to refund the CPF funds back to your mother OA account with accrued interest.

Aaron Chong
 9730 8455 
aaronchong2774@yahoo.com.sg Read More

1) If the current flat was bought from the HDB direct such as a BTO or SBF. Then you will not be able to get any grant since you are under 35 yrs old.
2) The loan amount is dependent on your and your mother's income and age. If the purchase flat price is far away from the loan amount then the HDB will not provide additional funds to meet the LTV.
3) There are 2 things I think you will encounter:
a) You will be applying for a 2nd HDB loan if the next loan is from the HDB again. By applying for a 2nd loan, 50% cash from the 1st flat sale proceeds will need to be used to pay for the subsequent flat.
b) If you are buying under the joint tenancy with your mother, in the future your mother might not have the sufficient financial capacity to buy over your share from you. In that case, you will be stuck.
It is recommended to use Tenancy-In-Common if possible so that your mother is still able to buy over your share when you intend to buy your next flat.

Hope the above answer your main concerns, but if there are more query, please feel free to contact me at 90110636  , or email: ling.ck7@gmail.com if more information is needed.
I'll be glad to assist.

Best regards
Ling CK

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