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Hi Agents, My wife and myself are both SPR for about 10 years now. We are planning to buy a resale HDB flat here and was wondering what to do with our home in Malaysia. We do not wish to sell it as my parents are staying in the house. I read that I could transfer the ownership of the property to my parents to enable us to purchase a HDB. My question is, is it OK if the house's mortgage is still under my name but ownership transferred to my parents? Please advise. Thanks.
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3 Answers

Mike Lim
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Afternoon, With the current ruling, you are require to remove your ownership status of any private or foreign properties within 6 months from key collection. If you have existing mortgage under your name, you might be impacted by the TDSR requirement which will reduce the amount of loan that you might be eligible for. Do feel free to contact me if you require further assistance. Regards Mike Lim 96929209  m52i@yahoo.com ERA Read More
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Geryl Lim
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Dear sir/madam, The technical part of the regulations indicates that you should relinquish any residential property ownership elsewhere within 6 months from taking possession of your purchased HDB but did not indicate about mortgage. As long as financially you are comfortable with the arrangement to service the mortgage of both properties and eligible for housing loan here, you should be free to go ahead. Let me know if you need further help. Visit and Like my facebook page at https://www.facebook.com/propertyblogshop Regards, Geryl LIM Real Estate Director Masters Of Real Estate (L3010548F) CEA Reg R014783H Mobile: +65-81577565  /+65-92787772 Email: geryl7772@gmail.com M.O.R.E Landed Dynamic Alliance Home of *7772 Hotline Check out our latest Landed Dynamic Alliance 7772 mobile application on iOS or Android @ "Landed 7772" in Mobile Apps Store or Play Store now! Our next exhibition is on 2nd and 3rd August 2014. If you have missed out successful exhibition on 10th and 11th May, do not miss this opportunity again. Register your interest to attend this showcase event now! Read More
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Koh Zhen Hon
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Hi,

Regard to your question. Why not you just drop me an email at ot1984pierre@gmail.com or Contact me @ 82798327  -

Why Should HDB Sellers engage me? Contact me @ 82798327 

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