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Hi, I am SC and my partner is SPR. We are not married and want to purchase a private property (condo), however understand that there is 5% ABSD on his portion. Can we get around this by having me as sole owner (so I can use my CPF to purchase), and him as borrower/my guarantor (because he has higher salary) using a bank loan? We have AIP already using his salary benchmark for the property. Thanks.
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8 Answers

Hi

The borrower must be an owner. As such, a higher ABSD applied.

You may text 9620 0827  should you have further question. Attached a link for your reference. https://tinyurl.com/y39sn9gp

Regards

Gavin Read More
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  • JC
    What about just being a guarantor?
Hi there, there is a way to reduce the ABSD for the purchase and at the same time, having both parties as a owner. However, this is only applicable when certain conditions are met. Both owners income can be used for the housing loan in this situation. I have already assist a number of buyers facing similar issue with their purchase. Do drop me a call or text for a more detailed discussion before you proceed
Cheers
Rix Jim
 9687 1379 
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OT Read More
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Good afternoon,

I understand where you are coming from, may I know which development you are looking at? So I can provide better recommendations. Thanks and look forward to value-add to your housing plans. I can be contacted at 97432395 

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Robbie Chen Chee Howe
Hi Ms,

Owner need not be a Borrower, but Borrower must be the Owner. Hence, if your partner is borrowing, he will have to be the Owner too, and ABSD will apply.

There are however some ways which you could enjoy some savings, but subjected to certain conditions and may not be suitable for everyone.

I am experienced and well-versed in private transactions. I will be able to assist you in your home purchase. Please get in touch with me for a more in-depth discussion.

Should you need require 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 in the current market.

Thank you.

Best regards,
Robbie Chen
 9748 6305 
PropNex Realty Read More
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Hi,

Guarantor has to be Owner as well. There could be ways where you may be able to meet your objectives, but ideally would like to have a better idea before making any recommendations. Look forward to discuss at 97432395  thanks Read More
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YT Tan (陈永达)
Good evening Ms,

I am apologetic to inform you that a borrower or guarantor has to be an owner of the property as well.

Since both of you are not married yet, the higher ABSD will be applicable.

But if there is a chance to reduce the stamp duties applicable, will you be keen to find out more? Hear from you guy soon!

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Dear Sir/Mdm,

As my colleagues have shared, a guarantor will not work as he or she will also need to be an owner. However, as you are a SC and not liable for ABSD, there are options to avoid paying the ABSD.

Please feel free to contact me so that I can understand your situation and objective better before proposing possible solution to you!

Regards,
Nick Tan
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