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I have HDB apartment resale flat purchased on grant scheme. I plan to return and hence wish to invest on a private property 1100-1200 sq.ft (3bedroom). I currently away from singapore due to biz and travel.

I have stayed in the flat 3year and rented out past 5years. Can I by an EC or Private Flat.

What is best choice and any you recommend in woodlands area and it can be new launch. and rates.

As I do biz I cant show monthly salary for loan..

Regards
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2 Answers

Evening,

Since you have purchased the unit with grant, the required MOP is 5 years. You have only stayed for 3 hence you will be required to fulfill the balance 2 years before you are eligible to purchase your second property. As for getting loan from self employed, your income tax form or 3 years statement should be good enough for the banker to assess on your credit status.

Regards
Mike Lim
 96929209 
m52i@yahoo.com
ERA Read More
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Hi, the requirement for taking grant is that u need to fulfill the 5 yrs stay or to keep it empty for 5 yrs without renting it out.
For yr case, u hv stayed 3 yrs and rented 5 yrs which means u are required to stay in or to leave it empty for another 2 yrs before u cud execute yr plan or getting a private apt / EC.

There is nothing u cud do right now.

Hope this has answered yr questions.

If need further consultation, feel free to call me Veronica Lim DTZ @ 94550898  .

Thank you.

Veronica Lim
DTZ Property Network Pte Ltd
Hp 94550898 
Website: www.veronicahomes.com Read More
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