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Hi,

Yes its possible, however do consider the downsides. Only owner's CPF OA can be used, and only owner's income recognized for loan application purposes. There is only 1 legal owner, and essential occupier is technically not an owner of the property and may not have legal recourse if anything unfortunate happens. Both owners and essential occupiers will still have to fulfil MOP of 5 years before they can purchase next residential property.

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

Warm Regards,

Ivan Ng Realtor
ERA Senior Marketing Director
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Buyers Mr. Wang & Ms. Ng
We want to convey our thanks to Ivan, who helped us find our first home. Ivan was very responsive when we first met, and took time to understand our needs and requirements for our first home. He helped us narrow down our criteria and gave us good advice on how to structure our mortgage as well. He also made a great recommendation of an area we never thought of, and it was where we eventually bought our home. We appreciate Ivan's thoroughness in pros and cons of all our options that we viewed. We never felt pressured or rushed to make a decision. In fact, Ivan gave honest and useful inputs on the considerations of acting immediately or waiting. All in all, it was a very smooth experience and we ate very happy with the unit we bought. Thank you very much, Ivan! Read More

Yes you can have owner + essential occupier

But you can't use the occupier's cpf for the purchase

Your loan will be based on your income only

Ravin KNIGHT FRANK
Hp 9798-5917  Read More

In general yes, as long as you fulfill all other criteria. Most importantly, you need to plan about your finances properly in such an arrangement. Read More

Hi,

Yes, this is possible. But do take note of the pros and cons of doing so.

I am experienced and well-versed in both HDB and private transactions. I will be able to assist you in your property plans. Please get in touch with me for a more in-depth discussion.

Should you need require further assistance in matters relating to property, please contact me at my mobile +65 97 48 63 05. I will be happy to assess and share with you the possibilities for you in the current market.

Thank you.

Best regards,
Robbie Chen
+65 97 48 63 05
PropNex Realty Read More

Hi,

1) Yes, this is possible.
2) You have to be aware that only the owner's CPF OA funds can be used for payment of the purchase, this includes the payment for the monthly mortgage.
3) And only the owner's income is considered to get the mortgage loan.
4) Thus, it is important you have done your financial calculation carefully before making the final decision.
5) This is because getting an approved HFE takes around 28 working days.
6) Once you notice that the loan is insufficient to cover the flat type you intend to own at least for the next 5 years
7) Re-applying and getting an approved HFE is going to take a long time before you can start looking for your ideal flat.

Please give me a thumbs-up if the answer provided is relevant to your main concern. Thanks!!!

Hope the above answers your main concerns, but if there are more queries, please feel free to contact me at 90110636  , or email: ling.ck7@gmail.com if more information is needed.
I'll be glad to assist.

Best regards
Ling CK
 90110636 
ling.ck7@gmail.com
https://R056727F.propnex.net/
https://www.facebook.com/Homesellerbuyer Read More

Hi, thanks for sharing. This can be done. However what is the main reason to do so? Let's meet over coffee to discuss!

Travis Toh Huttons
Huttons Associate Marketing Manager
 +65 88554382  Read More

My answer with regards to your Question:

- Possible, but drawbacks exist.

- Only the owner's CPF OA can be used.

- Loan application considers only the owner's income.

- Only one legal owner; the essential occupier is not a property owner and may lack legal recourse in unfortunate situations.

- Both owners and essential occupiers must fulfill a 5-year Minimum Occupation Period (MOP) before buying another residential property.

However, it's crucial to note that an HDB loan can only cover a maximum of 80% of the purchase price. Therefore, before selling your flat, you must prepare the 20% downpayment, buyer stamp duty, and legal fees associated with the purchase.

I am Happy to Help with No obligations! If you have any more questions or need assistance, FEEL GOOD to let me know. I am here for You! Cheers :)

Able Toh, Singapore Mobile :( +65) 9856 9255 

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