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Good afternoon,

Firstly, you will need to remove your ownership from the current HDB unit. If you had not contributed towards the unit with your CPF account, you can proceed to HDB office and have it done. However, if you had contributed with your CPF fund, your parents would need to obtain fund to return that to you.
After your ownership status had being removed, you will need to know how much loan you are eligible for. By working out the sum, we can work on something that’s within your budget and requirement.

Do feel free to contact me for further discussion.

Regards
Mike Lim
 96929209 
m52i@yahoo.com
ERA

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Hi,

Under HDB rules & regulations, everyone can hold on to one HDB property at all time (Transition time of 6 months is allowed).

For your case, if you intend to purchase your own. It is best to remove your name from current flat first, because you will encounter problem to purchase if you don't.

There are 2 situations for current case:
(1) You had utilize CPF towards this flat: Your parent must have the capacity to take over your share after you left. Can they take more loan to service current loan?

(2) You did not use CPF towards this flat: This is the easiest, can get your name remove without any difficulties in HDB.

Once your name is removed, then you can work out how much you can loan to understand you are not stretching your finance towards the purchase.
You may make use of the HLE application under HDB website to understand your finance. Or engage a banker to work out your IPA amount.

Hope the above answer to your main concerns, but if there are more queries, please feel free to contact me at 90110636  , or email: ling.ck7@gmail.com if more information is needed.
I'll be glad to assist.

Best regards
Ling CK
 90110636 
ling.ck7@gmail.com

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Dear Mr/Madam,

I have just assisted a client who co-owned a HDB flat with her parents to remove her share and to purchase another HDB flat.

Have you contributed with your CPF fund for this current HDB? If yes, your parents would need to pay the amount of fund. If not, this can be done at the HDB office.

Perhaps we can meet up for a discussion? Please feel free to call me at 9436 5945  for a non obligatory discussion at your convenience?

I am an active & experienced agent in RENTING and SALES of RESALES and NEW LAUNCHES and have assisted many happy sellers in their sales of houses for the past 7 years with GOOD track record. You can take a look at my profile in our websites www.joeyongproperty.com or www.94365945.com or even talk to our previous clients.

1) Full time experienced agents in Real Estate industry 7 years coming 8 years.

2) We subscribe and invest heavily in many PAID property portals to help our clients to rent and sell fast and effectively!

Please feel free to call me at 9436 5945  for a non obligatory discussion at your convenience.

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