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I owned a 5 room flat and I intend to buy a condo with my sister and brother who also has their own respective HDB flats. I have the following questions: 1) If all the 3 of us have satisfied the MOP for our respective HDB unit, can we buy a condo and at the same time holding on to our flats.

2) How many names can be put under the condo that we bought??

3) is there any MOP to be fulfill before we rent out the condo??

4)What is the latest payment structure after the cooling measures is in place?? The % to pay upfront, the max bank loan i can get, amt to set aside for retirement etc

Thanks for answering my questions
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1 Answer

Mike Lim
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Afternoon Francis,

1) If all of you are SC household, you are eligible to keep your HDB unit while owning the private property.
2) I have seen four owners on same property but have not seen anything more than that. Hence I would say four as per my experience.
3) There's no MOP for rental of private properties. There are many investors who choose to purchae private property that have existing tenancy in hand.
4) As to how much do you guys need, it would depend on the purchase price of the unit, whether any of you have existing outstanding mortgage loan, how many years loan can you guys get and amount of CPF that's available after setting aisde the CPF minimum sum.

Do feel free to contact me for further discussion.

Regards
Mike Lim
 96929209 
m52i@yahoo.com
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