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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.

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Mike Lim
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