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I am a director (with two other) of a company and I am on my company's payroll with CPF contribution.

Am I considered self-employed if I were to take up a mortgage with banks?

What if I were to transfer my ownership of the company to a family member but still remain as an employee? Will I then be considered an employee for mortgage loan purposes?

Thank you!
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3 Answers

Robbie Chen Chee Howe
Hi,

I think it would be good if you can speak to a mortgage banker on this matter. Because, ultimately it is the Bank that grants you the loan.

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
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Hi,

My guess is they will look at the overall situation based on the documents submitted, and it does appear you will still be considered as self-employed status and director's fees may not be 100% recognized. The best person to speak to is a mortgage consultant or the banker to help you reach your objectives. Be happy to explore further the optimal approach.

May I have more info and requirements about your plans so to make better recommendations? Thanks and look forward to value-add to your housing plans.

Warm Regards,
Ivan Ng ERA ASAP
(ASk Anything Property)
Proactive. Sincerity. Feedback.
SMU BBM (Finance), Magna Cum Laude

Email: Ivanng10@gmail.com
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**Note: We are not prompted when you respond here, hence please get in touch directly. Look forward to hear from you soon! ** Read More
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Edvan Lee CK 李钊昆
Hi hi..
Based on your description, yes you are considered a self-employed.

For your "plan" I can be of assistance and help you find out from my banker if you can provide more information about your company.

Coffee on me!

Sincerely,
Edvan 84241222  Read More
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