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I currently own a pte property (serving mortgage) and wishes to buy another private property with my spouse.

What is the loan quantum that the bank will lend?

Is there any difference if my spouse were to purchase as an individual rather than jointly?

Thank you.
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2 Answers

Mike Lim
Replied
Afternoon,

Since you have an existing mortgage loan, you can only get max of 60% loan is the loan period is not more than 35 years or exceeding age of 65. But if your spouse who do not have an existing mortgage loan under her name, the bank will grant max of 80% loan.

FYI
Mike Lim
 96929209 
ERA Read More
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YT Tan (陈永达)
Replied
Hello!

You are eligible to loan up to 60% if your loan tenure does not exceed retirement age of 65 years old. If it does, it will be 40%. (this is because you have an outstanding housing loan)

If your spouse doesnt have any existing housing loan, she is able to loan up to 80% if loan tenure does not exceed retirement age. If it does, it will be up to 60%.

Hope it helps!

Cheers!

Warmest Regards,
YT TAN
District Manager
R043025D
(M): 9111 5171 
(E): yt.lovelyhomes@gmail.com
(W1): www.yttan.com
(W2): yttan.stproperty.com.sg/
ECG Property Pte Ltd Read More
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