AskGuru Q&A Community

Hi, if you still have an existing loan and you are going for the next property at Riverbank, then your next bank loan is going to be very low and thus it would be more advisable to sell off your existing HDB unit first before you proceed to upgrade and purchase a condo. And yes, many developers are giving good discount for unsold units due to the weak market sentiment. Pls feel free to let me know if you need any assistance.

Regards
Aaron
 97308455 
aaronchong2774@yahoo.com.sg Read More

Hi,

Yes, my firm ERA is the sole marketing agent for Riverbank, and 3 bedroom units discounts are still available.

To qualify for 80% loan, either the current HDB loan needs to be fully paid or you need to show the bank a valid exercised OTP that you have sold the HDB to qualify for a 80% loan.

If you put under your spouse name only for condo, its possible but the mortgage loan qualified will be based on his income, age and credit profile only, which could mean a lower loan.

Thanks and may I get in touch with you to discuss further on your plans to upgrade? Hope to have the opportunity to work with you.

Warm regards
Ivan ERA
 97432395 
Ivanng10@gmail.com
Website: http://www.ivanng10.com/#!reviews/c11r1
(Client's Testimonials) Read More

Hi there!
Good morning.

Thanks for your query.
I am from the developer appointed sales team of Riverbank and recently had a relative purchase a 3BR in the developer as well. To answer your enquiries-

(1+2)
Yes, developer has rolled high level of discounts across the project, however, the % of discount varies on the type, size and elevation. Having said that, prices are slashed across with a huge % margin, and PSF is going unbelievably below $1000 PSF. The 3BR units are priced from $896,000 only! Developer is giving away “Lucky Dip ranging from $1,888 - $8,888” to the first 30 buyers who book a unit! So there are various schemes the developer has in place to entice, in terms of attractiveness of price. Quite a number of units have moved due to this movement.

(3)
Yes, it possible to do so. The loan will take into consideration your husband's age, credit status, income etc, which will ultimately decide your loan quantum approved. This can be easily done by any of my network of bankers who will assist at no cost.

(4)
It may be advisable to sell of the unit to attain maximum loan, however, to give you a better perspective view, I would need to understand your finances well in order to chart the financial cash flow projection and progressive payment breakdown for the purchase of Riverbank. From there, I would advise the next step of action. Many a times we require a comprehensive calculation of finance and series of consultation of the procedure to get a better picture, as purchasing a property is a life long decision.

Let's get in touch at +65 96659926  for me to understand your requirements, expectations and objectives. Do note that there is NO agent fees involved and I will walk you through this whole tedious process of : explanation of procedure, shortlisting, negotiation, paperwork, establishing financial projections / application of loan, sharing of market insights, providing up to date transaction caveats & price analysis of properties as well as and handling all technical and legal matters at NO cost!

D Kumar
 +65 96659926 
ERA Associate Division Director
www.kumarrai.com

#1 team of ERA in Singapore, Asia Pacific International for 2014.

ERA 2015 Q1 Top Achievers (Top 1% of ERA)
ERA Top Achievers 2013/14
ERA Multi-Million Dollar Club Award
2014 ERA Asia-Pacific Business Conference Elite Award

P Group
2015 April ERA Top Achievers
2015 February ERA Top Achievers
2014 Aug/Sept/3rd quarter/Dec/ overall 2014 ERA Top Achievers Read More

Good evening buyer,

I believe there will still be discounts for unsold units but sorry to inform you that $800k is not enough to purchase a 3 bedders there. Cheapest unit is going around $900k.

Oh well GOOD NEWS! There will be a new launch, High Park Residences, at Sengkang Fernvale launching soon. Their 3 bedders is estimated to be from $7xxk. If you are keen, Let me email you some of the pre-released information.

Yes in order to qualify for 80% loan, you must not have any outstanding loan thus you have to sell off your flat first and rent a place while waiting for completion. Maybe you can speak to my banker so he can work things out for you.

80% loan will still be subject to total debt servicing ratio (taking both your income, debt, age etc) into consideration. Let assume you are the sole owner of an overseas property and you don't want to be one of the mortgagers, probably you should consider to let your husband be the sole owner and mortgager for this purchase. So when there's any good buy in the future, you can be the purchaser. That will be considered as your first property purchase, you won't be subject to additional buyer's stamp duty.

Warmest Regards,
YT TAN 陈永达 | ACCA Graduate, RES
Vice President (Agency)
R043025D
Property Avenue Pte Ltd
Estate Agent no. L3010650D
Blk 420 North Bridge Road #03-30 North Bridge Centre S188727

(M): +65 9111 5171 
(E): yt.lovelyhomes@gmail.com
(W):www.yttan.com
(W):www.propertyavenue.com.sg Read More