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My cureent property, a private condominium, is fully paid up. I intend to buy a 2nd property. What are the benefits (if any) of taking a home loan by mortgaging my condo that has been paid up over taking a normal home loan from the bank?
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1 Answer

Zhang Jinwei (Zavier)
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Dear Sir/Mdm, This is an interesting question. In both instances, you will be subjected to the same criteria as spelt out in the Total Debt Servicing Ratio (TDSR) framework. You are essentially suggesting taking an equity term loan from your property which is fully paid. There are restrictions on where you can park these funds. I would still get you to speak to my bankers who will be able to provide official advice. Do drop me a text/msg and I will be able to consult on strategies for buying a 2nd property to maximise your returns. Zavier Zhang Contact: 86662221  zavierzhang.biz@gmail.com Bac. Acc(Hons); Cert-in RES Read More
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