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Evening Kumar,

By the term 'own', I would assume that you have fully paid up for your current property. With that in mind, you are eligible for 80% loan where 5% have to be in cash and 15% can be paid in CPF and cash. And owning the EC for 8 years, I would also assume that you are SC, hence you are liable for 7% ABSD, excluding the standard stamp and legal fee.

Do feel free to contact me for further discussion.

Regards
Mike Lim
 96929209 
m52i@yahoo.com
ERA Read More

Hi Kumar,

Having a fully paid property will entitle you to the eligibility to loan up to 80% of the next purchase (given that it is not above valuation), otherwise it would be up for 50%, with minimum cash outlay of 5% and 25%. You will be subjected to 7% ABSD on top of the normal 3% BSD, of which legal fees and other miscellaneous fees may still be applicable.

Are you looking forward more towards an investment for this property or self occupation?

Let me know as I have a couple of interesting buys on hand. Especially so if you are eligible to purchase a landed property.

Regards,

Geryl LIM
Senior District Manager/Real Estate Consultant
CEA Reg R014783H
Mobile: +65-81577565  /+65-92787772
Email: geryl7772@gmail.com
ECG Property Pte Ltd (L3009759F)
Dynamic Alliance Group @ www.DAG.com.sg
ECG Landed Dynamic Alliance (Home of *7772 Hotline) - We Sold More Than 100 Landed Homes
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Hi Kumar

The stamp duty which you got to fork out for the 2nd property will be 10%. Cheers!

Regards
Aaron
 9730 8455 
aaronchong2774@yahoo.com.sg Read More

Hi Kumar,
To answer your queries as follows.
I assume your pty is fully paid, therefore you are eligible for 80% loan subject to your income ability and age should not exceed 65 year beyond retirement age. If your loan tenure beyond 30 years and retirement age of 65 years, your housing loan will be reduced to 50%
In above scenario assuming 80% loan, 5% cash will be required of purchase price or bank valuation which ever is lower. 15% will be by CPF OR CASH will be required to pay one week before completion to LAW firm.
Stamp duty on 2nd pty will be subject to ABSD 7% Of purchase price over and above of normal 3% stamp duty of purchase price less $5400 payable to commissioner of stamp duty within 14 days from exercise of option.
Stamp duty can be paid BY Cash but can Also be swapped with cpf after completion of purchase and cash will be refuned. Need to notify law firm if you are using CPF for Stamp duty payment in order to process the cash refund.
Hope above information are helpful.
for more details, i am contactable at 96659926  or send me an email: contactkumarrai@gmail.com
Thank you. Read More