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Hi Melvin,

For your wife, she is not eligible to purchase a private condo at this time yet because as an essential occupier, she will also need to satisfy the 5 years MOP during which she is not able to purchase any private residential properties.

After the 5 years is up, she will only need to pay the ABSD of 5% as a SPR for the first property. As for the housing loan, as long as she has got documents to proof her income, she will be able to get a bank loan in Singapore to finance the property purchase.

I hope that I have answered your questions. Please feel free to contact me so that I can understand your objectives and assist you better!

Regards,
Nick Tan
(M) +65 9644 4854 
B.Eng(Chemical)(Hons)(NUS)
Cert-in-REA
(E) nick96444854@gmail.com
SEAA Salespersons Achievement Platinum Award 2020
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

Hi Mr. Melvin,

1) Your PR wife is considered an essential occupier who also needs to observe MOP just like the owner.
2) She can only buy after your HDB flat meets MOP.
3) A SPR buying any residential property here is subject to 5% ABSD for the 1st residential property, 15% ABSD for the 2nd, and subsequent residential property.
4) She can still receive financial assistance from any local bank here despite her active income came from overseas. But might be subject to a haircut; i.e. lower LTV (Loan-To-Value)/
5) Under current MAS instructions, our highest mortgage loan from the bank is 75% LTV. So she might only get 60% or less.
6) You may approach any banker if you know any to get more info on this. Otherwise, you may contact any of the property agents, we can refer a banker for you to check out what is the current rate.
7) It is better to check this out when it is nearer to your flat MOP because policy changes from time to time. Thus whatever info you found now might not be valid anymore a few years down the road.

Have a great day!!!

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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Hi Melvin,

I am puzzled. Who is this Singaporean Female (Mother) and Singaporean Female (Daughter) that you mentioned at the beginning? Also also, you mentioned your Wife and Daughter are SPR? Are these 2 same persons?

Anyway, SPR purchasing a first property will incur ABSD of 5%. Only Singaporeans (and foreigners from countries that are under the FTA) are exempted from ABSD for their first property purchase.

For property mortgages, she will have to take from a local financial institute.

In terms of salary outside Singapore, it is best if you can speak to a Banker to assist you in this. Afterall, it's up to the Banks whether they will recognize this income, or if they will impose a haircut on it.

I am experienced and well-versed in both HDB and private 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