Asked by Eddie Addy
Hi, Currently I have a 5rm HDB flat which i purchased with my parents 7 years ago under bank loan prior to my marriage. Now that im married, i wish to hold my hdb unit. The qn is, is my wife able to purchase a property eg. condo on her own if we are able to meet the criteria of 5% cash and 3% legal fees? is there any guidelines that i have know and must the condo unit be purchased by her solely? Next, for the fact that i am still holding to the bank loan for my current hdb flat, does it mean that i cant be included in the purchase of the new condo unit? will the application be deemed unsuccessful reason being i have a home loan with another bank?
Secondly, if i intend to rent out the hdb unit after my wife has successfully purchased the condo unit, will there be any implications on the cpf deductions if i wish to include my cpf into the condo unit? must we do another transaction again eg. revalue of the unit etc?
Secondly, if i intend to rent out the hdb unit after my wife has successfully purchased the condo unit, will there be any implications on the cpf deductions if i wish to include my cpf into the condo unit? must we do another transaction again eg. revalue of the unit etc?
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