Hi Mr Chua,
If you have used or are using CPF for an existing property, you have to set aside half of the prevailing Minimum Sum ($69.5K) before you can use the excess savings in your Ordinary Account for the second property. Savings in the Special Account (including the amount used for investments) and Ordinary Account can be used to meet half of the prevailing Minimum Sum. Please note that as the Minimum Sum will be raised in July each year, the amount you need to set aside will have to be adjusted accordingly.
Do feel free to email or call me if you need any assistance on your 2nd property purchase. I would be most glad to have the opportunity to serve you and get the best deal for you.
At your service always,
Helen Goh
ERA Singapore
Mobile:
98266048
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