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My parents are owners of a HDB flat and intend to buy a condo for investment (i.e. keeping the HDB). However, they won't be able to get a loan and I would need to come in as one of the borrowers to service the loan. In this case, do I have to be named as one of the owners of the condo? Will I still be able to purchase a HDB in the near future if I'm just servicing the condo loan and not listed as an owner?
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1 Answer

Mike Lim
Replied
Afternoon,

If you are to use your name to obtain the mortgage required for purchase of private property, you will need to be included as one of the owner. With this in mind, if you were to purchase a HDB in the future, you are required to sell your share of the unit , either to your parents or siblings, and they will still need to obtain the loan required to cover your CPF contribution component, other than your shares of ownership on the unit.

FYI
Mike Lim
 96929209 
m52i@yahoo.com
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