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Hi gurus, I own 1 pte property but I wanted to buy a 2nd property which top in 4 yrs time. The problem is that I do not have enough cash to pay 40% of the 2nd property (60% loan). Is there a way to go about this ? Eg can I transfer my current property to my wife alone and I purchase a 2nd property under my name to request for a 80% loan ?
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1 Answer

Ken Tan
Replied
Hi Sir,

There is an easier way to do this.
Do not transfer the ownership of the property to your wife as you will be subjected to stamp duty charges.

Instead, keep the property under both your names and take out mortgage liabilities from yourself. You would be able to finance a second property at 80% loan provided that your income is strong enough.

You can contact me or your bankers for details.

Cheers.

Ken Tan
 96461490 
Huttons

more info, go to www.96461490.com Read More
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