Good afternoon buyer,
As you have an outstanding loan, you can only obtain up to 50% bank loan. Thus your initial outlay will be 60% of the purchase price if you are a Singaporean.
60% initial outlay:
1) 25% cash downpayment
2) 25% CPF downpayment
3) estimated 3% buyer's stamp duty
4) 7% additional buyer's stamp duty as SC
5) other costs like valuation fee, legal fee, stamp duty for mortgage etc.
Hope my explanation helps!
Probably you can share more information so I will be in a better position to advise you how to purchase a second property.
Hear from you soon!
YT TAN 陈永达 | ACCA Graduate, RES
Vice President (Agency)
Property Avenue Pte Ltd
Estate Agent no. L3010650D
Blk 420 North Bridge Road #03-30 North Bridge Centre S188727
(M): +65 9111 5171