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Hi, can I use my parents names to purchase an oversea property. I be using cash to pay off the DP, and take loan under my name. My next question is can I still purchase HDB next time? If i Go for private, am I be oblige to pay 40% DP??
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1 Answer

Michelle Lim
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Hi William,

Under the new MAS ruling, all borrowers must also be mortgagors, which means you will have to be listed as an owner of the property, even if it's overseas.

If you meet HDB's schemes for resale flat (ie. Fiance/Fiancee scheme, Singapore Singapore Citizen scheme etc), you can still buy a resale HDB WITHOUT any CPF housing grant or HDB loan, but you must dispose of the overseas private property within 6 months of the purchase of the resale flat.

If you want to buy a new HDB flat, you need to dispose of your overseas private property at least 30 months prior to your date of application.

Please contact me should you wish to discuss in greater detail.

Thank you.

Michelle Lim
ERA Realty Network Pte Ltd
Mobile: 81861036 
Email: chlimm@gmail.com Read More
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