Asked by Anonymous
Hi gurus, We both are 36 yrs old combine income of 10k. Wife is PR while I am a SC We have a 5rm flat in Woodland for 8 years now left with $170k. Our CPF has $80k, $140k cash. We looking at a EC project at about $990k. If we want to upgrade to EC is it possible? the agent told me that 5% booking cash+ 15% down payment cash/cpf + about $25k for stamp and lawyer fee is all I need However, the showroom banker allow only 60% loan for us. But because I am not getting 80% loan, I need to fork out another $80k when S&P to pay for the 15% before bank lawyer allow to disburse the CPF and reimburse me back. Even I Opt for Deferred payment CPF will not disburse the $80K unless I pay the 15% on cash first. My question is, then why shall I go for deferred payment if I have the extra $80k and pay 3% more? I have a 5 Rm flat which worth at least $80k which I will need to sell when EC TOP. Why does the bank not able to give me 80% loan? What regulation is this call?
904 views
