AskGuru Q&A Community

Get answers from PropertyGuru experts in 24 hours

Asked by
Hi guys. I m an already discharged bankrupt and my husband is still an undischarged bankrupt. Are we still able to apply for a bank loan on the purchase of resale flat or just only hdb loan. We are currently selling our existing flat.
0 •
1137 views
Upvote Upvoted
Want this question answered?
Get faster responses from our experts by upvoting.
Be the first to upvote this question.

1 Answer

Mike Lim
Replied
Afternoon,

Being a discharged bankrupt, it will take around 9 months to 1 year, with clean credit record, before any bank will consider dishing out any mortgage loan to you. It's also dependent on your income status. With your husband being a bankrupt, not only will he require his OA to approve the purchase, it's also tough for both of you to get any bank loan.
As per few of my clients, it would be good to write in and request for market rate HDB loan. It's not a one day process hence you need to be patient. Since you are currently selling your unit, I would believe your representing salesperson would be able to help you out.

All the best

Regards
Mike Lim
 96929209 
ERA Read More
0
Upvote Upvoted

Still looking for answers?

Get answers from PropertyGuru experts in 24 hours

Ask Your Question
Previously Asked Questions