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Hi, i am currently owning a BTO flat. I am interested in upgrading to a EC/Condo upon the 5 years MOP and will sell off the HDB. I wish to understnad the following:
1) Can i only opt in to buy for the EC/Condo after 5 years MOP and thus meaning that i have to stay in my current residences to the projects end date if i am interested in new launches. 2) will i be paying for the 3% ABSD?
3) what is the downpayment /LTV applied to this senario. I.e. 20/80 or 50/50.

Thanks,
Derrick
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1 Answer

Andrew Ngauw
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Hi Derrick,

its a great time to consider an upgrade to an EC as there are many upcoming new launches for 2013.

Here's the answers to your queries:

Qn1: Can i only opt in to buy for the EC/Condo after 5 years MOP and thus meaning that i have to stay in my current residences to the projects end date if i am interested in new launches.

Ans1: As you are presently owning a BTO flat, you can only apply for an EC upon fulfilling the 5yrs MOP. However, if you are close to completing your mandatory MOP, do feel free to give us a call to discuss further.

Qn2: will i be paying for the 3% ABSD?

Ans2: No, ABSD will not be applicable for all EC purchases.
However, the standard stamp duty of 3% of purchase price minus $5400 is still applicable.

Qn3: what is the downpayment /LTV applied to this senario. I.e. 20/80 or 50/50.

Ans3: 20/80; subject to banks' assessment and income.

Do feel free to contact us for more EC info or clarification.

Thank you

Andrew Ngauw
Mobile:8188 8887
www.sgECsales.com Read More
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