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My parents have a fully paid HDB and cash of about $100k. They are looking at investing in an condo. However i am not sure if it is possible. My sister and myself are currently living with her. I heard from my friend that my sister and i will be able to take up loan to financial the condo even if the condo is under my parent's name. Is it that true? As i believe base of their age i doubt the bank will be able to give them much loan. My sister and i also will not want to give up our chance in getting HDB next time so we do not wish to include out name in this condo investment however if taking a loan is possible it is worth considering.
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1 Answer

Mike Lim
Replied
Morning Mr. Stan Wong,

Your parents have additional $100k cash at hand, which may not be sufficient if you are looking at standard units. As for shoesbox unit, depending on how much the bank is willing to disperse to your sister and you, it might still be possible.

FYI
Mike Lim
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  • SW
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    If they were to invest in Shoebox units they are still able to keep hold of the HDB right? Because of the change of rules i am pretty lose as to whether one is able to hold on to a HDB flat together with another private property as investment.

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