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Hi Mdm,

Are you intending to sell any of the 2 properties before upgrading to a 4 or 5 bedroom condo?

Bank will be able to offer you a financing of 80% if you do not have any outstanding mortgage loan currently. Do bear in mind that if you are keeping both properties, you will be subjected to a Additional Buyer Stamp Duty of 10%. This is on top of the normal stamp duty of about 3%.

Please feel free to contact me so that I can understand your situation better and assist you further!

Regards,
Nick Tan
(M) +65 9644 4854 
B.Eng(Chemical)(Hons)(NUS)
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Mr and Mrs Chan (Sold and Bought a property through Nick) Read More

Dear Madam,

The upfront regulations require you to have no outstanding home loans and sufficient income subjected to TDSR in order to be eligible for 80% loan. There is nothing to ensure that you can get 80% loan until you have formally put in a loan application. You may wish to get an in principal approval done first to determine your loan amount you are eligible before making a move.

Do you plan to sell any of your existing property before your upgrade? By selling 1 of your property, are you able to clear off any outstanding home loan of the balance unit?

You may also wish to look into restructuring your portfolio and manner of holding the property before moving forward to see how you can best make use of your existing assets for your next move without overleveraging financially. Let me know if you wish to explore further the various possible options.

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Regards,

Geryl LIM
Associate Marketing Director
Global Alliance Property (L3010679B)
CEA Reg R014783H
Mobile: +65-81577565  /+65-92787772
Email: geryl7772@gmail.com

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Hi,

To achieve max 80% loan for your 3rd property, you must currently have no outstanding mortgage loans at the moment, and also subject to TDSR requirements of 60%. Its advisable to seek an indicative loan amount before proceeding further.

Please note that 10% ABSD applies on your 3rd property purchase if you are SC. Thanks and look forward to value-add to your housing plans further.

Warm Regards,
Ivan Ng ERA ASAP
(ASk Anything Property)
Proactive. Sincerity. Feedback.
SMU BBM (Finance), Magna Cum Laude

Email: Ivanng10@gmail.com
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(Client's Testimonials) Read More

Afternoon,

The term 'upgrade' means that you are selling both existing units to finance for the upcoming purchase? Or are you looking at getting your third property?
Should you opt to sell first, you can obtain 80% loan based on your income status, credit standing, loan period and your age.
Should you opt to purchase your third property, both units must be fully paid for before you can stand a chance to obtain 80%, subjected to assessment.

Do feel free to contact me for further discussion.

Regards
Mike Lim
 96929209 
m52i@yahoo.com
ERA Read More

Hi Sir

For 80% of loan , you have to have no outstanding loan for your current property .. Bank assessment is required but also subject to age, outstanding loan for car, etc...

Let me know if you need some bankers to advise you.

Thanks.

Raymond Lim
CCN Realty Pte Ltd
 91388805 
MBA/Bsc(HONS)
E; raymondshaq@hotmail.com
W: ray91388805.blogspot.com Read More

Hi upgrader,

As long as you don't have any outstanding mortgage, there'd be a chance that you can get the maximum loan of 80%, but that's also subject to other factors such as income, age, other debt obligations, property age etc.

Are you also intending to sell one or both of your existing properties? Otherwise, be prepared to incur 10% ABSD should you decide to hold on to the current both.

Feel free to contact me at your convenience, and I'd get my banker to give you a loan indication, before you proceed to make any commitments.

Thanks and regards,
Teck Chuan, Ng
BBA (Finance), NUS
ERA Realty Network Pte Ltd
Mobile: 9137 4602  Read More

Not possible to provide proper solutions for you , due to the limited information provided available .

One option is to sell off your condo and buy a larger 4-5 bedder condo , using one or both name depending on various circumstances and future plans .

This option should be able to obtain max loan AND save on ABSD , or rather NO need to pay ABSD .

Would like to advise you other better options you if you can provide me more info .

Kindly contact me for a no-obligations chat for your property needs .

If necessary to sell your condos , My charges are 1% commission for exclusive selling rights to your property or 2% for open listing

Joanne_chia
Chia_joanne@yahoo.com.sg
Hp 8333 3327  Read More

Hi There
If both properties were under 2 names, then your next properties will be still affected even if you dispose 1 property. Lets have a detailed discussion, I would love to understand the situation and give you solutions from here.
Feel free to reach me via 91442664  .
Looking forward to hear from you.
Tricia Tan 91442664  Read More

Hi,

Re: Our Preferred SG Professional- Agent.myweb.sg & Agent.irealtor.sg

Recommendation is to contact a experienced housing loan banker to provide you the option available. I am active at the east- MarineParade.com.sg/sg

Feel free to engage me as your agent. I can assist you based upon your stated contents and walk you through the entire process with options.

Call me now, we can explore further in detail.

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In all Areas of Singapore. Sale/Buy/Lease/Rent, Please call and/or drop me an email me. I’m always at your Services.

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