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Hi,

1) It is very common to have a single owner in the 60s/70s.
2) Those were the period where only one sole breadwinner in a family, even though some of their spouse also support the family with handiwork.
3) Only in the 80s where it is common to have both couple working. That was when Joint-Tenancy and Tenancy-In-Common becoming the trend.
4) As of current situation, since the HDB announced decoupling was not allowed in 2016, and the effect of hash ABSD slamp on citizen dream of owning a 2nd residential property.
5) Some couple decided to have only 1 sole owner in their 1st residential property so that the occupier able to buy their 2nd residential property upon meeting the MOP.
6) The advantage is obvious in the financial point of view. The occupier could saved 20% ABSD from buying a private residential property later.
7) The disadvantage would be the sole owner has to bear the full burden of servicing the mortgage and exhausted all CPF OA funds in the downpayment. This is especially when the HDB loan only provide a 75% LTV loan.
The govt is also trying to use this method to discourage from a sole owner, since the 25% downpayment is a heavy load on a single working person.
8) As an occupier, the spouse can only help using cash in the monthly mortgage and not from CPF.
9) The last is if there were stress in paying the mortgage at a later stage. There could arise disagreement which leads to unhappy ending between the couple.

All The Best!!!

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 
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https://www.linkedin.com/in/ckling/
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Good day to you.

These considerations are essential for estate and retirement planning. A mortgage is granted to property owners who qualify to use their CPF OA funds for the monthly payments. Mortgage insurance protects the mortgagee in case of death or total permanent disability (TPD). The arrangement of your spouse as the essential occupier allows her to buy her first residential property without facing Additional Buyer’s Stamp Duty (ABSD), provided she is a Singaporean.

Navigating a property transaction can be complex, especially with major life events. As a seasoned property consultant with 15 years of experience, I provide informed guidance on complex property matters.

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Hi,

I would be most glad to assist you further and pls feel free to let me know if you need any assistance. Have a good day ahead. By the way, if the wife is just an occupier, then she can’t utilise her CPF funds for the down payment of the flat.

Regards
Aaron Chong
 9730 8455 
aaronchong2774@yahoo.com.sg Read More

If you have plans to purchase a 2nd property in future without ABSD, and that your current finances allow you to purchase the HDB using 1 name with the other as essential occupier, this arrangement will allow you to do so basing on existing regulations.

This is not avoiding tax so you need not worry about getting into trouble with the law.

As an essential occupier, she will not be able to finance the purchase using her CPF monies. She can contribute using cash though. Loan assessment will be strictly based on the sole applicant's income but any housing grant will be based on the total household income for assessment.

——

I have been in the real estate business since 2009, with more than 15 years of experience serving the Singapore real estate market.

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Hi, appreciate your sharing. Only 1 able to service the loan. It benefit or help those who are planning for 2nd purchase like private property.
Looking forward to assist you at 9696 4398  or email me at stewartlim96964398@gmail.com

Cheers
Stewart-PropNex (Senior Associate Division Director) Read More

Hi

For occupier, cannot use her CPF OA for mortgage or downpayment, and her income will not be recognized for the loan assessment as well. But her income will still be recognized for grant assessment purposes. She legally has no say in the sale or rental of the property as well.

The good thing is upon 5 year MOP fulfilled, she is not considered to have property since she is just occupier status, so she can purchase the next residential property without ABSD since its her first residential purchase as a singaporean.

Hope the above clarifies. I am well-versed with HDB and private property transactions, having helped more than 100 homeowners transit smoothly with their housing plans. Please reach out to me at 97432395  for a more in-depth discussion :)

May I have more info on your requirements so as to make better recommendations? Thanks and looking forward to chat more

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hi,

If the husband is the sole owner of the HDB flat and the wife is listed only as an occupier, there are some strategic advantages. After fulfilling the 5-year Minimum Occupation Period (MOP), the wife can purchase a private property under her name without incurring Additional Buyer's Stamp Duty (ABSD), as it would be considered her first property.

However, since she is merely an occupier and not an owner, her income cannot be used to assess loan eligibility, and her CPF funds cannot be used for monthly mortgage payments on the HDB. That said, her income may still be considered when assessing eligibility for housing grants.

Hope this helps,

This platform does not allow me to contact you directly so kindly contact me at https://wa.me/6597261112 I would be glad to assist you further.

Thank you and best regards,

Jenny Tran
Propnex Realty Pte Ltd
(HP) +65 97261112 
(Email) jenny.tran@propnex.com
BSc (Real Estate) (Hons)-NUS

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I’m Aren Goh from PropNex. Here’s a quick rundown:

Advantages of one owner: simpler loan and CPF management since only one person is responsible.
Disadvantages: only the owner’s CPF OA can be used to service the loan, so the occupier (like the wife in your example) can’t use her CPF OA to pay the mortgage.

Mortgage insurance and monthly payments will be based solely on the owner’s profile, which might affect premiums and repayment amounts.

If you want a more tailored explanation or help deciding what’s best for your situation, just get in touch at 9657 6701  . I’m happy to assist. Read More

Hi, if there is only one applicant, the loan will be fully borne by the applicant aka hubby. The wife will not be able to contribute to monthly mortgage. At the same time, if there is any grant dispersed, the wife's portion wont be able to be use in this current purchase.

Trust the above clarifies.

If you have anymore questions, please contact me at 8299 8262  . Read More

1. In earlier decades (60s/70s), it was common for a single person to own a home, as typically only one spouse earned an income.
2. Dual-income couples became more common from the 80s onwards, leading to joint ownership options like Joint Tenancy or Tenancy-in-Common.
3. Since HDB banned decoupling in 2016 and ABSD rules tightened, some couples choose only one owner for their first home to help the other spouse buy a second property after meeting the MOP.
4. Financially, this helps the occupier avoid the 20% ABSD on a second private property purchase.
5. However, the sole owner shoulders the entire mortgage and uses all CPF OA for the downpayment, which can be tough given HDB loans cover only up to 75% LTV.
6. The government discourages sole ownership partly because the 25% downpayment burden can be heavy on one person.
7. The occupier spouse can only contribute cash for monthly mortgage payments, not CPF.
8. If mortgage payments become stressful, disagreements may arise, impacting estate and retirement planning.
9. Mortgage insurance can provide protection in case of death or total permanent disability.

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There are quite a number of considerations that you need to take note of.

The 5 main ones are
1) Tax implications
2) Financing considerations
3) Exit implications
4) Asset progression implications.
5) Policy implications

While it might seem like a smart move to do this now, there are very recent significant policy changes and unexpected moves by the Singapore government and courts that you need to be very aware of before you go ahead with this plan. This is something extremely important that I've noticed most other agents avoid mentioning.

I'm a Harvard graduated real estate agent with a degree in economics, and I have a decade of experience working on Singapore public policy. I would love to schedule a free consultation to share my views if you'd like.

Feel free to reach out via whatsapp or email.

Kay Cloud
The Harvard Educated Agent
Propnex Realty Pte Ltd
cloud@propnex.com
Tel: (+6.5.) 8.5.6.7.4.5.8.5
Whatsapp -> https://wa.me/6585674585 Read More

Hi Sir/Mdm,

Having one owner will mean that your eligible loan amount is lesser as only the owner's income will be used for loan assessment. For housing loan repayment, likewise only the owner's CPF can be used towards monthly mortgage payment.

The advantage is that after the 5 years minimum occupation period, the occupier can purchase a private property without the need to pay ABSD.

Please feel free to contact me so that I can provide you with an in depth explanation.

Regards,
Nick Tan
(M) +65 96 44 48 54
B.Eng(Chemical)(Hons)(NUS) / Cert-in-REA
(E) nick96444854@gmail.com

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With his help, we finally managed to sell our unit at a price within our expectations, before the deadline. Nick’s service is t Read More