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Hi All

I just want to check if I am currently the 2nd owner of the HDB flat with my sister since 1994 and would like to get a private property solely under my name.

Is this doable and will I be penalized in any ways?
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2 Answers

Ivan Ng
Replied
Hi,

If you are a citizen, and you have met your MOP of 5 years, you definitely can purchase another private property under your sole name.

However, if this is your 2nd outstanding loan, your max loan is 50% of purchase price and you have to pay ABSD of 7%. Are you open to this idea? Thanks and hope to discuss further.

Warm regards,
Ivan ERA
 97432395 
Ivanng10@gmail.com
Www.ivanng10.com Read More
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Mike Lim
Replied
Evening,

You have purchased the unit in 1994 hence it might be likely under sibling scheme. For SC, you can purchase your second property however, if your unit is still currently under mortgage, you will only be eligible for 50% loan. You will also need to be prepared for ABSD payment.

Do feel free to contact me for further discussions.

Regards
Mike Lim
 96929209 
m52i@yahoo.com
ERA Read More
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