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Hi

You may speak with the banker for a home loan (IPA-In-principle-approval). The banker will also advise on the expenses required for the purchase. ie ABSD.

If you need recommendation for bankers, you may write to gavin.ng@orangetee.com. You may also write to me should you have further questions on the purchase.

Regards

Gavin Read More

Hi Sir,

Singapore citizen second property- ABSD 7% plus standard 3% stamp duty
Singapore PRs second property ABSD 10% plus stand 3 % Stamp Duty

Banker I can introduce you for in principal how much you can borrow.

Let me know your contact so that I can assist you.

Thanks.

Raymond lim
CCN Realty pte Ltd
 91388805 
MBA/BSc(HONS)
Email: raymondshaq@hotmail.com Read More

Hi do contact me at 97970200  to discuss more

Mark, your RIGHT choice
MCG Read More

Dear Sir,

Under the current regulations, you will only be eligible for a maximum of 50% for your 2nd property as you have a current outstanding loan for your HDB flat. The balance 35% will consist of 25% cash and 25% CPF (or cash if CPF is insufficient).

If you can clear this current loan, I would suggest you do that so that you can obtain the maximum loan of 80%.

For loan, it will be best to talk to a banker to get a In Principal Approval of your loan amount. Please feel free to contact me so that I can understand your objectives better and provide you with more assistance. I can also link you up with my bankers to do some preliminary loan assessments.

Regards,
Nick Tan
(M) +65 9644 4854 
B.Eng(Chemical)(Hons)(NUS)
Cert-in-REA
(E) nick96444854@gmail.com
(W) www.nick-tan.com

Featured on Council for Estate Agencies (CEA) Newsletter:
https://www.cea.gov.sg/docs/default-source/module/newsletter/3-2017/bouquets-for-property-agents.html

Testimonial from Satisfied Clients (2016/2017)
“I would like to recommend Nick Tan from SRI. Before we engaged Nick, we were working with another agent from a very popular property agency in February 2017. We decided to terminate the contract after 5 weeks of zero viewings and no paper advertisements. Basically he was just waiting for phone calls. We engaged Nick on 20th April and by 10th of May, our unit was sold off. Why Nick? 1. He has good marketing strategies 2. He always kept us posted on what he did (communications!) 3. He made sure we understand the current market situation but he will consistently reassure us that the unit can be sold off 4. He is not greedy and trusting 5. He walks the talk”

Peter & Wendy (Property Seller)

“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)

“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) Read More

Hi There. I have helped many clients ro do restructuring and grown their properties. Lets meet up so we can discuss in details.
I can be reached via 91442664  .

Tricia Tan
Group Director
 9144 2664  Read More

Hi,

It would be wise for you to talk to any real estate agent to begin with.
So that you can understand where you stand.

Here are the direct answer to your queries:
(1) Fees
(a) Tax: Stamp Duty (BSD + ABSD)
BSD = 3%-$5,400 (this is same regardless of your residence status)
ABSD = 7% (for Singapore Citizen), 10% for SPR.

(b) Legal fees:
$2,500~$3,000

(2) Downpayments:
Since this is your 2nd loan, max loan you could get is 50% loan, 25% cash, 25% cash +/or CPF.

You also need to satisfy a basic assessment of TDSR, you may use the below link to do a simple calculation.
https://uniservices1.uobgroup.com/secure/online_tools/calculators/TDSR/index.jsp

After all these, if you feels it is the right time, I can recommend several bankers to help you to get a In-Principle Approval assessment (IPA).
IPA is almost like a loan approval thus they will need all financial info from you, except without actually producing the evidence (actual paper).
Once you found your property, this IPA can covert to LOF (Letter of Offer), the actual loan.
This is if your paper evidence fits your verbal descriptions.

This will help you from running to each bank to talk to individual banker to understand which offer a better package that fits your needs.

However, on top of the abover you asked for, there are something else you also have to be aware:
(3) "Income Weighted Average Age" to determine the loan tenure, thus the loan tensure shall dependent on yours + your co-owner's age.
(4) Limitation on CPF usage for 2nd property: you have to set aside BRS in your OA & SA. Thus you might have to recalculate your finance.

Hope the above answer to your main concerns, but if there are more queries, 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

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Hi,

I can relate to your current situation, as I am too staying in a HDB in central area and has also just met my MOP, with 25 years of loan left.

Should you be looking to purchase a second residential property, these are the figures you will need to look into:

1) BSD (approx 3%)
2) ABSD 7% on second property for Singaporeans
3) Legal Fee on purchase (approx $2500)
4) 50% downpayment of the property (min 25% Cash, balance 25% can be CPF)

You will also have to take note of other requirements:
1) Loan up to max 50% of the property purchase price
2) Set aside CPF Half-Minimum Sum before being able to utilise balance CPF monies.

However, they may be some ways for you to overcome some of the above restrictions. I may be able to help you save on ABSD, and also loan up to max 80% of your property purchase.

Do contact me for further discussion. I will be keen to share with you how you can embark on the journey of Asset Progression.

Should you need any 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 and your partner in the current market.

Thank you.

Best regards,
Robbie Chen
 9748 6305 
PropNex Realty Read More