AskGuru Q&A Community

Hi Howard, I would be most glad to assist you further and pls feel free to let me know if you need any assistance. Hope to hear from you soon and have a great week ahead.

Regards
Aaron Chong
 9730 8455 
aaronchong2774@yahoo.com.sg Read More

Hi Howard,

Yes, it is possible for you to draw out funds from your existing property. However, do take note that for your new purchase, ABSD and TDSR is still applicable.

For Singaporean's second property, you will be liable for a 12% ABSD. Your loan will also be subjected to your TDSR requirements..

I am experienced and well-versed in both private and HDB resale transactions. I will be able to assist you in your property plans. 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

Hi Howard,

Yes for a fully paid condo, you can take an equity loan on that. Do note the monthly repayments for equity loan can only be in cash.

As its your 2nd residential purchase, ABSD of 12% will apply, as well as TDSR requirements. In current low interest rates environment, the rates are competitive most are finding more worthwhile to loan at rates of 1.5% and below and investing the spare funds instead at a higher return rate.

Happy to work out the sums together to find the most optimal approach.

May I have more info and requirements about your plans so to make better recommendations? Thanks and look forward to value-add to your housing plans.

Warm Regards,

Ivan Ng Realtor
ERA Senior Marketing Director
ERA Diamond Achiever

ERA Top 15th Achiever in April 2019 (Top 1% Company Level)
ERA Top 86th Achiever in Sept 2019 (Top 2% Company Level)
ERA Top 600 Achievers in Year 2017 (Top 10% Company Level)
ERA Top 300 Achievers in 3rd Quarter 2017 (Top 5% Company Level)

SMU BBM (Finance), Magna Cum Laude
Proactive. Sincerity. Feedback.

Contact: (+65) 97432395 
Email: Ivanng10@gmail.com
IG: instagram.com/ivanngrealtor
WeChat: ivanng10
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W: ivanng10.com/clientreviews
(Client's Testimonials)

**Note: We are not prompted when you respond here, hence please get in touch directly. Look forward to hear from you soon! **

-- EC Sellers, Private Property Buyers Dr. Chan & Ms. Xie --

I would like to compliment Mr Ivan Ng for his professional work and effort.I sent my first post in Jan 2019 and Ivan replied promptly, so I have decided to contact Ivan for follow up. My EC was not ready for sale due to MOP (another 3 months from Jan) at that time and Ivan was able to give me advices on how to proceed from there. Initially we have decided to try to write to HDB for early sale but since it was only 3 months left, eventually we waited for another 3 months while we looked for our next property. Ivan was able to arrange for new property showroom appointment at a timely manner while helping us to list for our EC for sale. We were a bit worried when our EC sale time was longer than expected due to trade war, but Ivan was able to reassure us that our EC would sell. By November, he managed to secure a buyer for our EC. Thank you. Read More

Hi
For equity loan, your mortgage monthly payment only be made in cash. No such restriction applies for bank loan but only the amount in excess of basic retirement sum in CPF is allowed to financed 2nd property. 12% ABSD applies for second property but with careful planning, this amount can be minimised. Do contact me at 93375051  for more details on this.
Regards
Taufik Hussein
ERA Realty Network Pte Ltd Read More

Hi Howard, do contact me at 97970200  to discuss more

Mark, your RIGHT choice
Propnex Read More

Hi Howard,

If your age and income will affect your loan quantum amount then you may consider taking up an equity loan. If not, a property loan will make more sense as you may utilize your CPF towards the monthly mortgage and free up your cash.

Please feel free to contact me so that I can understand your needs and objectives before providing you with more informed recommendations. I am also available for discussion on Zoom during this period.

Regards,
Nick Tan
(M) +65 9644 4854 
B.Eng(Chemical)(Hons)(NUS)
Cert-in-REA
(E) nick96444854@gmail.com
Visit my website to know me better: www.nicktan.com.sg

I was featured recently on Council for Estate Agencies (CEA) Newsletter:
http://bit.ly/CEAnews

I have written a guide on buying Residential Property:
http://bit.ly/buypropertyguide

Testimonial from Satisfied Clients
“Nick is a responsible, efficient and excellent salesperson. He has very good knowledge of the real estate market and I benefited a lot from his advice and sharing. He is extremely patient when guiding me through the buying process and I am happy to secure a dream house within my budget with his assistance. A highly recommended salesperson who made my house hunting journey a breeze.”
Ms Chia (Buyer)

“Nick provides a delightful customer experience from day one when I engage him as my agent to look for a flat of my choice to the completion of the deal. He is competent, resourceful and has a pleasant manner to work with. He is the Agent of my choice in dealing with properties and I would highly recommend him to others who would appreciate an agent that takes care and can give the customer a peaceful mind.”
Susana (Buyer)

“Nick is very pro-active in helping us to resolve whatever questions and problems that we encountered. All the issues are settled even before us having to request or ask for a second time. He was very frank and transparent with all the details, limitations and advantages that we wouldn’t have known. I think this is the most important virtue to be successful in this line. I will surely recommend him to anyone who needs his service because I trust that they will be equally satisfied!!”
Mr and Mrs Chan (Sold and Bought a property through Nick)

“We are very grateful to Nick for his extensive marketing efforts. With his comprehensive marketing plan, he helped us to achieve a record selling price within 2 weeks of listing our property for sale! We highly recommend his service to anyone who is keen to sell their properties.”
Mr & Mrs Wong (Property Seller)

“Nick has conducted himself ethically and professionally when handling the sales of our property. Thanks to his patience and perseverance, we managed to secure a sales price beyond our expectations.
We are very happy and satisfied with his services and will definitely recommend him to our friends and family in the future.”
Mr & Mrs Tan (Seller of Inter-Terrace House) Read More

Good day to you! I would be more than happy to assist you in the house purchase. I believe property is a big ticket purchase and there are many details and information in the market that can be confusing.

Rather than product pushing, unlike other agents, what i like to do is to go through the market sentiments with my friends and clients.

Topics such as
1. Over supply
2. How to time the market cycle
3. Most importantly, how the current situation (COVID 19) in Singapore will affect the property prices.

Feel free to give me a call at 81255537  or email me anytime to set up an appointment with you (virtually) so that i can run through this with you.

Warmest Regards
Thea
 81255537 
thea@theahoi.com Read More

Hi Mr. Howard

Yes it is possible to taking up a cash out from fully paid Condo
I will need more info to be able to advise you further

I won't be able to contact you first as I do not have your contact, appreciate if you can contact me at (65) 96608508  or Silviayang8@gmail.com with details of your unit
or click here http://bit.ly/2tzIQ1a to whatsapp me for no obligation discussion
Thank you.

Warmest regards,

Silvia Yang

PropNex Realty Pte Ltd
Mobile: (65) 9660 8508 
Email: Silviayang8@gmail.com Read More

Greetings from Ohmyhome!.

We are able to assist you on this matter.

For more information, kindly contact us at 68869009  or WhatsApp us at 97551009  .

Richmond Chia
Senior Advisor
Ohmyhome Pte Ltd Read More

Hi Mr Tan,
Congrats on having a fully paid property!
Planning to get another investment unit we do have a few options, like gearing up,decouple ( if its buying under a couple names) or even options like getting bank loan leveraging on the Low interest rates currently.
All these have to make eligible with loan checks like your age, TDSR and so for.
Hope I can assist u further with planning out the options and then u can weight it base on real figures.
Stay Safe and hear from u soon!

Karen Tan
 97467890 
PropNex Realty Pte Ltd Read More