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Hi Gurus
I own a landed property and i still have some loan on it. Im keen in getting another landed property that is currently tenanted for investment. I was wondering if i can use the rental income of the property i want to purchase as my income to qualify for more loan with the Tdsr in place? Thanks in advance!
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5 Answers

Evening,

The unit that you are keen on is still currently under the seller's name and so is the TA. Furthermore, banks is unlikely to take the full rental amount as your income on the loan assessment.

FYI
Mike Lim
 96929209 
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Dear sir/madam,

Unless you have existing unit already tenanted, that will probably constitute to part of your income considerations. In the case you have described, I am afraid not but it will be good to speak to a professional in the financial field for a firm answer.

In addition, landed homes do not have good rental returns but more of capital appreciation over time from investment perspective. The returns could be slow but rewarding, nevertheless, you are required to lock in your funds for the investment due to the seller's stamp duty and liquidity level is also not high for such investments with the quantum sum involved.

Is there any alternative investments you can look at? Perhaps so.

Tenants can visit http://bit.ly/SGExpatRental (Official Rental Requirements - Singapore Expatriates) to indicate your rental requirements.

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GAN ENG JOO ONASSIS
Dear Buyer,

Re: Today’s SG Professional Choice- SGAgent.com & SGRealtor.com

Rental income can be used to value-added on your financial status to apply for higher loan quantum. For professional advise, always recommend to consult the housing loan bank of your existing property.

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Robbie Chen Chee Howe
Hi,

I'm afraid this is not possible. As long as this property is not under your name, the rental does not belong to you, and bank will not be able to use this "income" for your TDSR assessment.

Having said that, since you still servicing the loan on your current property, do you know that you are only eligible to loan up to a max of 50% valuation/purchase price of the next property.

May I check how many years of mortgage you have left for your existing property? Because, if it's only left a little loan, there is something I can propose to you for investment. The potential returns from this investment gem is very very attractive in the current market and very much suits Buyers like yourself.

Should you need any further assistance in matters relating to property, please contact me at my mobile 9748 6305  . I will be happy to assist.

Thank you.

Best regards,
Robbie Chen
 9748 6305 
PropNex Realty Read More
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