Asked by Anonymous
I am currently one of the 4 owners of a 5-room HDB flat. At the same time, I purchased a private property last year and took up a housing loan at 60% of the purchase price from the bank. One of the owners of the flat would like to withdraw his ownership of the HDB flat this year so that he could purchase a HDB flat on his own. I would like to ask how much is the housing loan (as a % of market value of flat) I can take from the bank to purchase the 25% share from the outgoing owner and to refinance the remaining mortgage loan.
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