AskGuru Q&A Community

Get answers from PropertyGuru experts in 24 hours

Asked by
My husband & I are near 50 yrs old. Under new rule, I understand we can only having bank loan max up to another 15 yrs. if, we let in our child whom is 21 yrs old to apply for bank loan together with my husband. Can we get the max 30 yrs loan term ? But, she is still a undergrads, not getting a permanent job yet. Can she be one of the property co owner ?
0 •
625 views
Upvote Upvoted
Want this question answered?
Get faster responses from our experts by upvoting.
Be the first to upvote this question.

2 Answers

Mike Lim
Replied
Evening Rachel,

Some bank will work on the the average age of both borrowers while some might use the eldest of the borrowers. Bank loan is also computed based on the borrower's income ability. Based on your situation, it's tough to gauge as your child is not the income earner.

Regards
Mike Lim
 96929209 
ERA Read More
0
Upvote Upvoted
Alexandra Khoo 邱雯励
Replied
Hi Rachel, of course she can be one of the owners, I am assuming you are refering to private properties.

FYI, some banks have this scheme call asset based lending that is, you put in a certain amount of deposit and they can process the mortgage even if the person has no steady income.

Do feel free to call me and I can refer some bankers to you who can assist in your situation.

Alexandra
DTZ
 91178727  Read More
0
Upvote Upvoted

Still looking for answers?

Get answers from PropertyGuru experts in 24 hours

Ask Your Question
Previously Asked Questions