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Hi there,

I currently have a situation.

My parents and I made a purchase for a HDB resale flat about 2.5 years ago.

As I got married recently, I am thinking of making a purchase for a private property.

The question I have is, to avoid the ABSD, is there any possible way of doing this?

Is it possible to buy a private property under my wife's(SPR) name, and have the loan undertaken under my name as my wife does not have declared income.

Thanks in advance.
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2 Answers

Mike Lim
Replied
Morning,

It's impossible for you to purchase private property at this moment as you have not fulfilled the MOP requirement. Under current ruling, if the mortgage loan is under your name, you will need to be the owner of that property as well. Hence the idea of buying the unit under your spouse name, to avoid ABSD is also not viable.

FYI
Mike Lim
 96929209 
m52i@yahoo.com
ERA Read More
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Ivan Ng
Replied
Hi,

Its not possible for you to purchase private property since you have not met MOP of 5 years. Putting under your wifes name avoids ABSD, but she will not be able to obtain any loan since she does not have income. To take up a loan for a property you need to be the owner as well, hence its a non-starter since you have not met MOP. Thanks and hope it clarifies.

Warm regards
Ivan ERA
 97432395 
Ivanng10@gmail.com
Website: http://www.ivanng10.com/#!reviews/c11r1
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