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Good morning buyer,

Yes bank will grant you max 80% bank loan once your HDB buyer exercise on the sale OTP.

Hope my sharing is beneficial to your property upgrading.

May I know how can I continue to value add in your property plans?

Warmest Regards,
YT TAN 陈永达 | ACCA Graduate, RES
R043025D
Propnex Realty Pte Ltd

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

Hi,

Yes once the buyer for your HDB exercises the OTP, your legal ownership would be removed and hence considered to have zero property count. Consequently this means you qualify for a 80% max loan.

It is important to ensure the timelines and financial planning are planned thoroughly so to ensure a smooth transition, and if possible so not to move twice and minimize the costs outlay involved. May I understand your requirements further so to make better recommendations and value-add further to your plans? Thanks and look forward to hear from you.

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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Dear buyer,

The moment a buyer exercises the Option To Purchase, it is deemed that both of you have entered into a legal binding agreement that unless HDB disapproves of this resale transaction, it is deemed that you have already sold your existing property, thus being eligible for 80% loan maximum, subjected to your income and financial commitments (total debt servicing ratio).

As I am not a banker, I do not wish to commit to you on the above, and will advise you to seek confirmation from the bank of your choice directly to get the right answer.

Tenants can visit http://bit.ly/ExpatsRent (Singapore Official Page - Expatriate Rental Profiling) to indicate your rental requirements.

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Regards,

Geryl LIM
Associate Marketing Director
Global Alliance Property (L3010679B)
CEA Reg R014783H
Mobile: +65-81577565  /+65-92787772
Email: geryl7772@gmail.com

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Good morning,

Once your prospect buyer exercise the OTP, you can proceed to approach banker and obtain 80% loan for the purchase of the condo that you are looking at.

Do feel free to contact me should you require additional assistance.

Regards
Mike Lim
 96929209 
m52i@yahoo.com
ERA Read More

Good Day and Thank you for your query,

Most Banks would need a document proof that your HDB loan has been settled or the HDB has been fully paid before they grant 80% IPA or Letter of Offer of Home Loan to borrower(s).

80% Loan To Value will also depend on borrower(s) income/variable income, age, outstanding debt and valuation of the resale condo, if applicable.

It is advisable to seek advice from banks or your trusted agent to estimate your cash proceed from the sale of your HDB and Home Loan eligibility before making any selling or buying decision to avoid an unfortunate scenario where you are left homeless due to the strict cooling measures.

As we do not get prompted when you respond here, kindly contact us directly should you require additional information or the detailed estimates.

Thank you and have a pleasant week ahead.

Warm Regards,
Karrien N. Chan
CEA Reg. No.: R052532H
Mobile: +65 82250212 
Email: karrien.realty@yahoo.com

POWERFUL NEGOTIATORS
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Hi seller,

I assume you haven't repaid your HDB loan fully; in that case, yes you can go to the banker after your buyer has exercised the OTP.

Feel free to contact me, and I'd introduce reliable and helpful bankers to you.

Thanks and regards,
Teck Chuan, Ng
BBA (Finance), NUS
ERA Realty Network Pte Ltd
Mobile: 9137 4602  Read More

Hi Sir,

Normally once once buyer exercised option , you can show your OTP to the banker to proceed for 80% loan..

Thanks.

Raymond Lim
CCN Realty Pte lTd
 91388805 
MBA/BSc(HONS)
R026870H
raymondshaq@Hotmail.com Read More

Good evening buyer,

If you purchase first then sell your existing HDB, bank will loan you up to 50% for your purchase as you still have outstanding mortgage. In addition, you will be subject to additional buyer's stamp duty and restriction on usage of CPF OA funds as well.

But if you choose to sell first then buy and in this case, your buyer exercise on your sale OTP, bank will grant you 80% bank loan for your purchase as they regard you dont have any more outstanding loan.

If I time your sale and purchase properly, you might even able to save on any cost that will be incurred on temporary accommodation during the transition from HDB to condo.

Hope to hear from you soon!

Warmest Regards,
YT TAN 陈永达 | ACCA Graduate, RES
R043025D
Propnex Realty Pte Ltd

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

Hi
Yes the banks will. You may wish to first obtain a IPA from the bankers for a rough accessment. If you need assistance, feel free to reach me via 91442664  for a detailed chat.
Tricia Tan 9144 2664  Read More