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Home Financing

Asked by Jay 16 Sept 2012

My wife and i currently own a property and have both of us jointly committed to a bank loan for the property. I want to take one name out of the loan so that we can get 80% finance for the next property. Is there any bank that will only allow me to only have one owner take up the loan?

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Mike Lim · Answer 1 · 2012-09-17T10:53:32+08:00

Mike Lim

Replied 17 Sept 2012

Afternoon Jay,

For your case, you are talking about re-financing your unit with another bank. This would depend on your current outstanding amount, your income status and credit record. Do note that even by doing so, you are not able to get 80% loan for the purchase of private property if you intend to purchase it in joint name with your spouse.

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Mike Lim
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