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I am currently staying at 4R HDB. I am looking for upgrade but I am limited to the ruling of sell of any private property within the 6 months. The only choice is private condo. Q1. Can I buy resale EC as PR without sell off private property? Does resale EC treated as private condo after 5 yrs? If yes, does it means the 60% max loan and 3% additional stamp duty applied for concurently holding HDB? If I settle the HDB loan, can I get max 80% loan? Thx.
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1 Answer

Mike Lim
Replied
Afternoon,

Resale EC are considers as private property and you are eligible to purchase if your HDB have fulfilled the MOP, without selling off your current HDB unit.
Having an existing mortgage loan, bank will only dish out 60% loan for the upcoming purchase. 80% will only be dished out to you when your HDB loan have being cleared.
Being PR, purchasing second property, you are required to pay Additional Buyer Stamp duty of 3%, unless you purchase it with your spouse.

FYI
Mike Lim
 96929209 
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