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Happy new year to you, MH.

Since you dont have any outstanding loan, you will be able to loan up to 80% bank loan (still will subject to total debt servicing ratio).

In addition, you will be subject to additional buyer's stamp duty of 7% if you are a Singaporean. You can apply for remission if you purchase this private property with your wife and you are able to dispose off your HDB within 6 months from TOP date. This exemption is granted by IRAS for household with at least 1 Singaporean buying their matrimonial house.

After receiving HDB sale proceeds, you can inform bank that you wish to use CPF OA funds for partial repayment of loan.

Hope my explanation helps!

May I know which project or location are you looking at?

Hope to hear from you soon!

Warmest Regards,
YT TAN 陈永达 | ACCA Graduate, RES
Vice President (Agency)
R043025D
Property Avenue Pte Ltd
Estate Agent no. L3010650D
Blk 420 North Bridge Road #03-30 North Bridge Centre S188727

(M): +65 9111 5171 
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Hi,

Since you have no loan, you will be able to obtain a 80% max bank loan for your 2nd property. However, please note that 7% ABSD will apply if you are a SC purchasing a 2nd residential property. This 7% ABSD can be refunded if you're an SC and the 1st HDB property happens to be your 1st matrimonial home.

Upon receiving the sales proceeds, you can write in to the bank & CPF to do partial prepayment of the bank loan of the condo. However, nearing TOP your timeline will be crucial and financial planning must be detailed from the onset so that the transition can be smooth. Thanks and hope to get in touch with you to discuss further on how best to proceed with your housing plans. Hope to value-add further.

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

It is best to meet up to understand your exact finances to throughly draw up a financial plan and timeline to facilitate sell and buy which I done in past months with my other clients. Do contact me should you want to take this forward, in the most professional and systematic manner.

Do visit my website for my latest awards and testimonials @ www.kumarrai.com. Thanks!

D Kumar
 +65 96659926 
ERA Associate Division Director
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Hi Mr Tan,
Best to work out the financial plan at this stage before going forward to source of a property. I can assist to work out with you including compute the estimated loan quantum.

To assist and advise you more in details, kindly drop me an email for me to share.

I am contactable at my mobile or email.

CK Ang
 9046 3808 
res.ckang@gmail.com Read More

Hi MH,

The financial aspects of your question should have been addressed by my fellow professionals, but I am just curious into why are you looking to only sell your HDB after you have moved into your new place? In typical scenario, most such sellers will be compelled to sell as time lapse due to the ABSD remission.

Given that current HDB regulations allow sellers to negotiate with their buyers for 3 months extension, why not use it to your benefit to reduce the prospective complication based on your plan?

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My self introductory video on https://youtu.be/6UfrCOCB6Mg

Regards,

Geryl LIM
Real Estate Director
Global Alliance - Masters Of Real Estate
M.O.R.E Property Pte Ltd (L3010548F)
CEA Reg R014783H
Mobile: +65-81577565  /+65-92787772
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