Asked by Anonymous
Me and my wife are Singapore PR's for more than 5 years now. We are looking at buying a HDB in the resale market.
We want to use our CPF and hence need both our names in the OTP. However, we have an issue. My wife's credit rating is bad even though she has made all her payments in May 2015. For the bank loan I would be the main applicant and I would be paying the monthly installments. My wife is merely a non borrowing co-applicant. I had applied to Citibank and they declined my loan based on my wife's credit rating. As per HDB and CPF to use my wife's CPF she needs to be a co-owner & hence her name should be on the OTP. The bank says, if the name is on the OTP , then they will check her credit rating even though she is just a non-borrowing co-applicant.
Question - is there any bank which currently will give me a loan looking at my current situation.
Thanks for reading.
Regards
We want to use our CPF and hence need both our names in the OTP. However, we have an issue. My wife's credit rating is bad even though she has made all her payments in May 2015. For the bank loan I would be the main applicant and I would be paying the monthly installments. My wife is merely a non borrowing co-applicant. I had applied to Citibank and they declined my loan based on my wife's credit rating. As per HDB and CPF to use my wife's CPF she needs to be a co-owner & hence her name should be on the OTP. The bank says, if the name is on the OTP , then they will check her credit rating even though she is just a non-borrowing co-applicant.
Question - is there any bank which currently will give me a loan looking at my current situation.
Thanks for reading.
Regards
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