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I have a private condo under my name only. My wife wants to buy a HDB with her mother. She wanted to give her mum a place to stay but use her CPF to pay for it.

My understanding is that a couple has to buy a HDB with their names, so with me having a private condo, it is impossible for her to buy a HDB with her mother as I have to include my name, and forced to sell off our home (private condo).
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3 Answers

William Koh
Replied
Hi,

You are correct with your statement.
Alternatively, you may wanna consider buying a studio/1 Bdrm condo under your wife's name for her mum.

Cheers,
William Koh
 9027 1972 
willkck@gmail.com
www.GuruSg.com
williamkoh.st701property.com
www.myBedokResidences.com
www.ArcAtTampinesEC.com
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Mike Lim
Replied
Afternoon,

With the current CPF ruling, it's possible for your wife to transfer monies from her CPF OA into her mother's account.
With this, your mother-in-law should be able to apply for HDB unit. Now that you have to beat is how to get bank to approve the mortgage loan for your mother-in-law. I would assume that she's no longer in the work force and hence have no income. She should be around 58 to 65 y/o.
Otherwise, you might have to do what William have advised, buy your mother-in-law a private condo too.

FYI
Mike Lim
 96929209 
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Ken Tan
Replied
Hi,

Yes you are right.
However, you might want to check with the bankers if your financial allows to you get a loan for your mum using your name as a guarantor, you can check with me for details.

Ken Tan
 96461490 
Huttons

more info, go to www.96461490.com Read More
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