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Dear Sir,

With no outstanding housing loan or car loan, you are in a good position to get another property. However, under the current MAS ruling, you will not be allowed to act s a guarantor for your wife's loan as only the purchaser's income will be taken into consideration for the loan assessment.

For decoupling, you will to first assess the amount of loan each party is able to obtain before deciding who to take over the existing property and who to purchase the next one. The CPF portion used on the existing property by the exiting party will need to be refunded as well, but it can be done by using a housing loan.

I have helped quite a number of my clients with the decoupling process and subsequently getting a 2nd property. It involves careful planning in terms of your finances before you proceed further. Please feel free to contact me so that I can understand your situation better and provide you with further assistance.

Regards,
Nick Tan
(M) +65 9644 4854 
B.Eng(Chemical)(Hons)(NUS)
Cert-in-REA
(E) nick96444854@gmail.com
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Mr & Mrs Tan (Seller of Inter-Terrace House) Read More

Dear Sir,

As per what you have shared, decoupling to free up one name to buy another property is definitely feasible but I have to inform that now banks no longer allow guarantors. So you will not be able to act as a guarantor for your wife. Generally once decoupling happens, then you do not need to worry about ABSD.

For your situation, I would really suggest that we can meet up for a chat on this. No worries, there are no obligations at all. Act actually the crux in the whole asset progression process are really the figures. So I will need to run through a financial calculation for you and take a look at our affordability and then I will be able to advise you accordingly. In the event if your wife’s income is not enough to support the loan size, then maybe there are other solutions that we can explore to make things happen. My apologies that I am not able to share everything very openly in public media like this as some information are really sensitive. Like mentioned earlier, no worries as there are no obligations at all to our meetup. After that we will also send you the calculations for you to keep so that you will have a reference when you further discuss the plans with your wife.

I work very closely with my partner who is also my wife so maybe just to share a little about us. We have been in this business for more than a decade and we have served many clients over time. Many of them are now our friends and many have also left testimonials for us for our service rendered. Both of us have always believe that our property is probably the most expensive thing that we have bought in our lives and hence any agents handling the houses should really uphold the clients' interest in top priority. Thanks to the many kinds words from our clients, both of us have been interviewed by Council of Estate Agents (CEA) before and we have been featured in their newsletter for Great Client Service. Personally I also won the SAEA Best Client Service Silver Award before as well. We believe that we will definitely be able to provide some good advice to you and hopefully we will be able to provide the same level of client service to you and hopefully even better.

I am also a trainer of a course called Advisory Sales Masterclass where we train other realtors on creative solutions for real estate and how to make the right investments, etc.

Looking forward to hear from you soon! Cheers!

Best Regards,

Jeffrey Heng
Associate Executive Director (Sincerus Division)
OrangeTee and Tie Pte Ltd
NAVIS Living Group - The fastest growing group in OrangeTee that believes in Technology, Training & Teamwork (3Ts)

Mobile : +65 9858 1322 
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Hi,

Current MAS requirements about home loan for residential properties is such that the borrower of the home loan needs to be the owner/mortgagor of the property as well, and any guarantor of the home loan needs to be the co-borrower (and by extension of the rule, the owner/mortgagor as well), hence in the scenario you mentioned, it is likely ABSD is applicable.

I believe you have a rough idea of the decoupling process, and since the property is fully paid, the only thing to consider would be to refund the CPF utilized + accrued interest of the outgoing owner, as well as the Buyer Stamp Duty applicable for the market value of the share ownership transferred.

Based on the details shared, actually there could be a few ways to restructure your portfolio to optimize and minimize the upfront costs while getting the 2nd property. Perhaps I can get more details from your side? I like to think from your perspective and offer an optimal recommendation. I have worked on similar cases and would be happy to share the best approach.

May I have more info and requirements about your plans so to make better recommendations? Thanks and look forward to value-add to your housing plans.

Warm Regards,

Ivan Ng Realtor
ERA Senior Marketing Director
ERA Diamond Achiever

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-- EC Sellers, Private Property Buyers Dr. Chan & Ms. Xie --

I would like to compliment Mr Ivan Ng for his professional work and effort.I sent my first post in Jan 2019 and Ivan replied promptly, so I have decided to contact Ivan for follow up. My EC was not ready for sale due to MOP (another 3 months from Jan) at that time and Ivan was able to give me advices on how to proceed from there. Initially we have decided to try to write to HDB for early sale but since it was only 3 months left, eventually we waited for another 3 months while we looked for our next property. Ivan was able to arrange for new property showroom appointment at a timely manner while helping us to list for our EC for sale. We were a bit worried when our EC sale time was longer than expected due to trade war, but Ivan was able to reassure us that our EC would sell. By November, he managed to secure a buyer for our EC. Thank you. Read More

https://www.mas.gov.sg/regulation/explainers/new-housing-loans/borrower-mortgagor-guarantor-borrower-requirements

For more details Read More

HI,

Unfortunately, the loan need to follow the owner of the property. If it is under your wife name only, then the loan will based on her own profile and cannot include you.

Since your existing property (i assume it is private property) is fully paid and your income is higher, then it will be better to keep her name to the existing property and your name to get another property.

May i also check if the property was fully paid in cash and no CPF was used?
In addition, is the decoupling method the best way for you? I have seen many cases where decoupling actually cost more than ABSD so this required a prudent planning.

It will be good if we can discuss further.

Feel free to contact me at 92707548  to discuss further.

Thanks!

Alan Sng
PropNex Read More

Hi Sir

I will be glad to assist
I won't be able to contact you first as I do not have your contact, appreciate if you can contact me at (65) 96608508  or Silviayang8@gmail.com with details of your unit
or click here https://bit.ly/WaSilvia to whatsapp me for no obligation discussion
Thank you.

Warmest regards,

Silvia Yang

Senior Marketing Director
ERA Realty Network Pte Ltd
Mobile: (65) 9660 8508 
Email: Silviayang8@gmail.com Read More

Dear sir/madam,

I believe that most of my fellow professionals have addressed the issue on your enquiry to be the guarantor of your wife's intended loan for the 2nd home.

The key to any potential get around on reduction or elimination of incurring any ABSD lies very greatly on why does your wife need a guarantor for the home loan for the 2nd property which you have intention to purchase. Why not remove your name instead for the current place for the next purchase?

Warmest regards,
Geryl Lim
Associate Deputy Group Director
Salesperson Registration No. R014783H
Email: geryl.lim@orangetee.com / geryl7772@gmail.com
OrangeTee & Tie Pte Ltd 430 Lorong 6 Toa Payoh #01-01 OrangeTee Building Singapore 319402
Estate Agent Licence No. L3009250K
[main] +65 6471 8888  [mob] +65 81577565  [LDA] +65 92787772 
www.geryllim.com
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Hi Sir,

As what my colleagues already highlighted, you cannot be a guarantor for your wife's property purchase without incurring ABSD.

However, based on your situation above, I have a suggestion for you to consider. You will not need to be a co-owner of the property your wife purchase, she will be able to secure a much higher loan for the purchase, and you will not need to pay any ABSD. Do get in touch with me, so I can explain to you in further details how this works.

I am experienced and well-versed in both HDB and private transactions. I will be able to assist you in your property plans.

Should you need require further assistance in matters relating to property, please contact me at my mobile 9748 6305  . I will be happy to assess and share with you the possibilities for you in the current market.

Thank you.

Best regards,
Robbie Chen
 9748 6305 
PropNex Realty Read More