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Good morning,

you would have to be an owner in order to be a borrower.

As a private property owner, you will have to dispose off your private property first then observe 30 months of waiting period before you can apply for BTO or EC (you should aim to get this over BTO in future).

You can ask your parents to check whether they are eligible to refinance their loan to a longer loan tenure to reduce the monthly installment if eligible.

Hope my explanation helps!

- One of well-earned Star Performers under the category of Top Private Property Transactors in Jan 2017-

"Your Freehold Ally, Leasehold Tactician"

YT TAN 陈永达 | ACCA Graduate, RES
Associate Group Director
R043025D
Propnex Realty Pte Ltd
Blk 480 Lorong 6 Toa Payoh, #11-95 HDB Hub East Wing, Singapore 310480

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Hi,

This will mean you will be one of the owners of the condo.

This will also mean that you will need to dispose off all interests in private residential properties, and then wait out 30 months before being eligible to apply for a BTO in future.

If your parents' concern is about the monthly mortgage payment, they may want to check with their banker on refinancing the loan till up to age of 75.

Should you need any further assistance in matters relating to property, please contact me at my mobile 9748 6305  . I will be happy to assess and share with you the possibilities for you and your partner in the current market.

Thank you.

Best regards,
Robbie Chen
 9748 6305 
PropNex Realty Read More