Dear Tan,
Good day.
Have you stayed in the existing house for over 5years (MOP)? Otherwise, you cannot proceed to do anything until the whole process is complete. Furthermore, as someone who had not stayed in the HDB to meet the MOP, you may be subject to other rulings applied to you from HDB/URA. Of course, there may be reasons that you are not in the liberty to share in this forum.
Thus, the best source to check you on your eligibilty is HDB. Pop down to your area office to find out more.
The ceiling loan is the least of the problem here. If you are able to buy a private property now, you will be affected by the cooling measure of 60% LVT if you have an outstanding housing loan. You can spell it out to the bank that you are taking the loan and find out if they are likely to review your case once you are not deem having any outstanding home loan.
If you like to discuss more in private, feel free to drop me a mail at ctw4393@yahoo.com.sg or
91854434
.
Best regards.
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