Hi,
1) UNmarried & single must be SC and >=35 years old to be eligible for the Joint Single Scheme.
2) On top of the above basic, ensure you and your friend do not have siblings buy/own an HDB flat using the same scheme.
3) Note that your friend going to apply for a 2nd HDB loan, HDB will request him to use 50% cash proceed from the last sale to fund the new purchase. If he already used the money, ensure appeal to HDB to waive before commit to your next purchase.
4) In a purchase, there is no regulation on all owners must apply for a loan. Thus you can proceed with your plan; he will apply for the loan and pay for the mortgage.
5) In your case, it is recommended to use Tenancy-In-Common to benefit both parties. Meaning you spelled clearly the percentage share for each individual. If he is paying more then it is only right that he owns a higher percentage and vice versa.
6) The advantage of Tenancy-In-Common is both parties can identify who will inherit your share and how much they receive. Unlike Joint-Tenancy, the survivor owns everything.
Hope the above answer to your main concerns, but if there are more query, please feel free to contact me at
90110636
, or email: ling.ck7@gmail.com if more information is needed.
I'll be glad to assist.
Best regards
Ling CK
90110636
ling.ck7@gmail.com
https://R056727F.propnex.net/
https://www.facebook.com/Homesellerbuyer
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