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hi, I had fully paid up my 4 room HDB flat and would like to get a loan from bank by mortgaging my flat. May I know any specific process involved and how much can i get the loan by mortgaging my flat? I would like to buy a private property through this loan.
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2 Answers

YT Tan (陈永达)
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Good afternoon, nowadays banks will not give term loan for clients to use the money for purchase of property. Even you manage to get it, it will affect your total debt servicing ratio for obtaining bank loan for purchase where you might have to fork out even more for the downpayment. Why not let my banker advise you on this first then you decide whether to take up a term loan or not to for the purchase? Hope to hear from you soon. Cheers! YT Tan ECG Property 9111 5171  Yt.lovelyhomes@gmail.com Read More
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Mike Lim
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Afternoon, Under today's ruling, you will not be able to use your HDB unit as collateral to finance your purchase of private property. FYI Mike Lim 96929209  m52i@yahoo.com ERA Read More
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