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Hi,

Based only on the limited info shared here, I don't see why you need to inform IRAS anything unless there is a change in ownership of the landed property or the landed property will no longer be owner occupied. May I have more info and requirements about your plans so to make better recommendations? Thanks and look forward to value-add to your housing plans.

Warm Regards,
Ivan Ng ERA ASAP
(ASk Anything Property)
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Hi do contact me at 97970200  to discuss more

Mark, your RIGHT choice
MCG Read More

Hi there,

Thank you for your enquiry.
As what my fellow colleague stated, based on your sharing the matter may not be reported to IRAS.

The purchase process requires a detailed financial calculations and planning , which renders preliminary discussion imperative to establish the timeline, the finances to be availed as well as understanding the legal / admin framework coupled with analysis of property prices and calculation of potential yield and % appreciation. Do please feel free to contact me in this regards to share more on the market outlook/possibilities as well as guide you on the steps for the entire procedural framework.

Visit my website for my recent accolades, awards and testimonials@ www.kumarrai.com.

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Hi friend,

I suggest you speak with a banker.
My understanding is that such Equity loan, can be used for many uses, EXCEPT for purchasing another property.

Steven Wang
OrangeTee Read More

Good morning Sir/ Mdm,

Do kindly take note it's against MAS regulations to refinance property to buy property.

In terms of refinancing amount, it's also based on your age and income to determine how much can you get. You can only use cash to make monthly repayment. Just for your information.

I doubt you have to make any declaration to IRAS but nowadays for property transactions, customers have to do customer due diligence as part of anti money laundering. You will have to declare that you are using a substantial of cash to purchase a property.

Hope my sharing is beneficial to your property needs.

May I know how can I value add further?

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YT TAN 陈永达 | ACCA Graduate, RES
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Propnex Realty Pte Ltd

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