Dear sir/madam,
This is consider equity loan, which in layman terms, you may heard about gearing up.
TDSR (Total Debt Servicing Ratio) applies when you are taking up this loan therefore you will need to ensure that your income level allows you to undertake this loan. You may do your assessment with a banker.
Do take note that most banks will recognise an equity loan as a housing loan, therefore if you are planning to purchase another residential property in future, your LTV maybe reduced if this loan is still under servicing.
You may wish to speak to bankers from different banks to understand more about their package. I have contacts who have experience in dealing with such arrangements you can get in touch if it is required.
Let me know how I may assist further.
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Regards,
Geryl LIM
Real Estate Director
Global Alliance - Masters Of Real Estate
M.O.R.E Property Pte Ltd (L3010548F)
CEA Reg R014783H
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