AskGuru Q&A Community

Afternoon Kayte,

You mentioned that you have purchased your current unit for nearly 3 years. That would make your purchase to take place around late 2009. Since this is the case, you are no longer liabale for seller stamp duty as the holding period for units purchase between 20 Feb 2012 to 29 Aug 2010 is one year.

As for the mortgage, if you have existing loan and intend to get another mortgage with tenure for more than 35 years or exceeding age of 65, you are only eligible to get 40% loan. Of the 60%, 10% must be in cash and remaining amount can be a mixture of CPF and cash. Do not forget about the CPF minimum sum if you intend to use CPF for the payment of monthly installment.

Regards
Mike Lim
 96929209 
ERA Read More

Hi Kayte,

I believe that you have misunderstood the regulations that have been introduced lately. You are unlikely to be affected by the Seller's Stamp Duty for the sale of your place, however, if the property you had purchased 3 years back is a subsidized HDB, then you will need to hold out for another 2 more years.

It would be helpful to you if you can talk to a qualified professional for what the immediate concerns are and how are you affected by the relevant regulations.

Regards,
Geryl LIM
Real Estate Consultant/District Manager
CEA Reg R014783H
Mobile: +65-81577565 
Email: lim.geryl@yahoo.com.sg Read More