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Hi,

I'm Singapore PR.

I own a private condo now.It was bought on year 2007. This year I'm getting married. My wife to be is also a Singapore PR.

We intend to purchase a resale HDB. We are also aware that we need to sell off this private condo within 6months after we collect HDB key.

Would like to ask when we purchase this resale HDB while this condo is undergoing mortgage sale, apart from normal 20% down payment and whatever stamp duty, will we face issue with financing from bank as mortgage loan on current private condo has already taken up part of our max loan eligibility??


Thank you.
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4 Answers

Morning,

It's a policy that SPR buyer for HDB unit must sell away their private property within 6 months from key collection. Hence bank will work on 80% loan for your purchase. But you will also be servicing two mortgages till the day you manage to sell off your private property.

Do contact me for further discussion.

Regards
Mike Lim
 96929209 
m52i@yahoo.com
ERA Read More
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YT Tan (陈永达)
Good afternoon buyer,

As you have known as well, you have to dispose off your interest in your private property within 6 months after resale HDB completion, bank will most likely grant you up to 80%. If not, you can sign an undertaking letter with bank stating you will sell it off within the stipulated time.

If you need any assistance or advice on financing, I am more than willing to pass you my bankers contact.

Hope to hear from you soon!

YT Tan
 9111 5171 
yt.lovelyhomes@gmail.com
www.yttan.com Read More
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Hi,

Firstly, has both you and your wife been a PR for more than 3 years? If so, then you are eligible for resale HDB purchase. It is understood from the banks perspective that you are required to sell away your private condo within 6 months of hdb key collection, hence your application will be treated as 80% bank loan attainable (ie no outstanding property). Thanks and may I assist with your housing plans further?

Warm regards,
Ivan ERA
 97432395 
Ivanng10@gmail.com
Www.ivanng10.com Read More
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Hi,
Do contact me to run you over your doubts.

Visit my website to view my testimonials & recent awards to gather more information on me: www.kumarrai.com

D Kumar
 +65 96659926 
ERA Associate Division Director
www.kumarrai.com
www.singapore-newproperties.com.
contactdkumarrai@gmail.com

About Me-

ERA Top Achievers 2013/14
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2014 ERA Asia-Pacific Business Conference Elite Award

P Group-
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