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Condo Questions

Asked by Meg 30 Jan 2013

Hi, I am PR and i have purchased a EC. If i want to buy 2nd EC/Condo, whether there is any policy for that? How much i could get the loaning from Bank? Thanks!

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Mike Lim · Answer 1 · 2013-01-31T10:04:21+08:00

Mike Lim

Replied 31 Jan 2013

Morning Meg,

Being PR, upon purchase of your second property, you will be liable for 10% ABSD. If your current unit is still under mortgage, you can only get 50% loan where 25% must be in cash and balance 25% can be CPF. This is again provided that you have fulfilled the CPF minimum sum if you have utilized CPF for your first mortgage.

Regards
Mike Lim
96929209
ERA Read More

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Andrew Ngauw · Answer 2 · 2013-02-07T16:53:18+08:00

Andrew Ngauw

Replied 7 Feb 2013

Hi Meg,

you would have to dispose your present EC at least 30mths ago to buy a new EC from developer.

Take note that you need to form a family nucleus with at least 1 SC to buy a new EC from developer.

As to your loan, contact me and i will arrange a mortgage specialist to understand your financials further.

Thank you

Andrew Ngauw
8188 8887
GPS Alliance Read More

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