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I AM 70 YEARS OWNED A FULLY PAID SHOP UNIT VALUED $700,000. CURRENTLY STAYING IN A RENTED PROPERTY. I AM DOING MY OWN BUSINESS WITH INCOME 10,000 P.M. (NOT DECLARED) HOW CAN I BUY A HOUSE PARTLY PAID FOR BY SELLING MY SHOP . MY CHILDREN ARE STAYING ABROAD NOT WITH ME.
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1 Answer

Mike Lim
Replied
Morning Vincent,

You can use your private shop as collateral for the purchase of your private property as undeclared income is as good as zero income. Banks required documentation for your income before they can really assess your creditability. If you have being filing proper accounting of your business, with regular audit, that might help.

FYI
Mike Lim
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