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Hi,

Firstly, your son must be 21 years and above to be legally eligible to own property. If you wish to use your cpf for the property, or even use your income to take up the loan for the property, your name needs to be added into the ownership of the property.

Thanks and hope it clarifies. May I understand your requirements further so to value-add further to your 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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Hi Sir,

You will have to be a co-owner in order to be able to use your CPF for the purchase. However, as you already own a HDB, you will be subjected to an Additional Buyer Stamp Duty of 7% for the purchase.

Please feel free to contact me so that I can advise you on a solution to your situation.

Regards,
Nick Tan
(M) +65 9644 4854 
B.Eng(Chemical)(Hons)(NUS)
Cert-in-REA
(E) nick96444854@gmail.com
(W) www.nick-tan.com

Testimonial from Satisfied Clients (2015/2016)
“Nick is a responsible, efficient and excellent salesperson. He has very good knowledge of the real estate market and I benefitted a lot from his advice and sharing. He is extremely patient when guiding me through the buying process and I am happy to secure a dream house within my budget with his assistance. A highly recommended salesperson who made my house hunting journey a breeze.”
Ms Chia (Buyer)

“Nick provides a delightful customer experience from day one when I engage him as my agent to look for a flat of my choice to the completion of the deal. He is competent, resourceful and has a pleasant manner to work with. He is the Agent of my choice in dealing with properties and I would highly recommend him to others who would appreciate an agent that takes care and can give the customer a peaceful mind.”
Susana (Buyer)

“Nick is very pro-active in helping us to resolve whatever questions and problems that we encountered. All the issues are settled even before us having to request or ask for a second time. He was very frank and transparent with all the details, limitations and advantages that we wouldn’t have known. I think this is the most important virtue to be successful in this line. I will surely recommend him to anyone who needs his service because I trust that they will be equally satisfied!!”
Mr and Mrs Chan (Sold and Bought a property through Nick)

“We are very grateful to Nick for his extensive marketing efforts. With his comprehensive marketing plan, he helped us to achieve a record selling price within 2 weeks of listing our property for sale! We highly recommend his service to anyone who is keen to sell their properties.”
Mr & Mrs Wong (Property Seller)

“Nick has conducted himself ethically and professionally when handling the sales of our property. Thanks to his patience and perseverance, we managed to secure a sales price beyond our expectations.
We are very happy and satisfied with his services and will definitely recommend him to our friends and family in the future.”
Mr & Mrs Tan (Seller of Inter-Terrace House) Read More

Hi,

Your name will needed to be added as a joint occupant.
I believe you would require a more comprehensive and in depth explanation of how you could go about expediting your plans. Perhaps you can share more on your requirements, objectives and finances on hand so that I can conduct the progressive payment calculations to narrow your options for your consideration. There are a couple of good buys launches , not forgetting the resale market which could potentially add value to your portfolio and enhance capital appreciation in the years to come.

To add, there is no fees involved, hence do get in touch so that I can render my consultation and give an overview of the procedural framework- shortlisting of units, negotiation, paperwork, payment timeline & financial computations, market insights report, comprehensive customized sales/rental report, latest up to date transaction caveats in chosen project and handling all legal coordination and admin matters at no cost!

D Kumar
 +65 96659926 
ERA Associate Division Director
www.kumarrai.com ( Recent Awards and Testimonials)

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2015/2016 ERA Asia-Pacific Business Conference Elite Award
ERA 2015 Q1 Top Achievers (Top1% of ERA)
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ERA Multi-Million Dollar Club Award
2014 ERA Asia-Pacific Business Conference Elite Award

P Group
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Good morning buyer,

I am afraid to inform you that you will have to be one of the owners in order for you to use your CPF OA funds to finance the property.

In addition, your son must be working with income in order to eligible for loan.

By the way, do take note of these cooling measures if you intend to be one of the owners and your household must have a Singaporean in order to hold on to both properties.

1) you will be subject to 7% additional buyer's stamp duty
2) if you have outstanding loan, your max loan is 50% thus your downpayment will be 50%.
3) if you have utilised CPF in your current HDB, you have to set aside half of minimum sum $80.5k in your CPF OA + SA first before you can use the excess OA funds in this purchase.

By the way, my team has been assisting many clients to grow their property portfolio and for your case, you can choose to own two properties without being subject to ABSD.

Do you agree no one has shared this with you before?

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Click this now: http://goo.gl/Gg5pe3!

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Warmest Regards,
YT TAN 陈永达 | ACCA Graduate, RES
Senior Associate Marketing Director
R043025D
Propnex Realty Pte Ltd
Estate Agent no. L3008022J
Blk 480 Lorong 6 Toa Payoh, #10-01/11-01 HDB Hub East Wing, Singapore 310480

(M): +65 9111 5171 
(E): yt.tan91115171@gmail.com
(W):www.yttan.com

Powerful Negotiators
No.1 team in Propnex Read More

Good morning,

Based on the current ruling, the party who have utilized their CPF monies for the mortgage payment must be included into the ownership of the property. Therefore, your name would need to be included as owner.

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