Asked by Darren Chua
Me and wife bought first BTO under HDB loan. We already applied for 2nd BTO which will be ready a year later but we wish to sell our current flat now. For the 2nd BTO we don’t intend to take any loan. After deducting the CPF we have used plus accrued interest and 40K levy, we will get sales proceeds of about 180K. For the current flat, we still has an outstanding loan of 60K. So my question is can we use the money we have in our OA which totals to about 40K to pay off the loan so that we can get more sales proceeds in cash?
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