AskGuru Q&A Community

Afternoon,

The intented purchase unit have lease of 60 years. Should bank grant you any mortgage, it would like be less than 80%.

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

Hi Cliff,

For property with balance lease of less than 60 years, the bank loan is unlikely to be max 80%, hence you have to adjust accordingly. The CPF usage will also not be full and will be pro-rated due to above same reason.

Thanks and will be glad to share a detailed financial plan so you know what to expect. Thanks and look forward to value-add to your housing plans further.

Warm Regards,
Ivan Ng ERA ASAP
(ASk Anything Property)
Proactive. Sincerity. Feedback.
SMU BBM (Finance), Magna Cum Laude

Email: Ivanng10@gmail.com
Contact: (+65) 97432395 
Facebook Page: www.facebook.com/ASAProp
Website: http://www.ivanng10.com/#!reviews/c11r1
(Client's Testimonials) Read More

Good evening Cliff,

As the unit you are eyeing has balance of less than 60 years old, this will affect the loan tenure therefore you wont be able to obtain max 80% bank loan.

Have you speak to a banker in regards to your in principle approval yet? If not I can ask my banker to assist you on this.

I dont have your age and property age so I wont be able to comment further on your CPF withdrawal percentage but I assumed you are right at 64%.

By the way, care to share why are you eyeing on an old HDB with so many restrictions on CPF usage and bank loan? In addition, there might not be any potential upside.

Just to share!

Only a one time sign up, you will be able to receive a free SMS update on the value of your home and neighborhood from me on a monthly basis.

Click this now: http://goo.gl/Gg5pe3!

Join me on board towards a hassle free update on valuation now!

Warmest Regards,
YT TAN 陈永达 | ACCA Graduate, RES
Senior Associate Marketing Director
R043025D
Propnex Realty Pte Ltd
Estate Agent no. L3008022J
Blk 480 Lorong 6 Toa Payoh, #10-01/11-01 HDB Hub East Wing, Singapore 310480

(M): +65 9111 5171 
(E): yt.tan91115171@gmail.com
(W):www.yttan.com

Powerful Negotiators
No.1 team in Propnex Read More