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Would like to clarify, under the existing rules relating to MOP for a HDB flat owner 1) Does the restrictions apply if owner does not sell the flat, and continues staying in the flat, but instead purchase another private property; 2) Can the HDB owner pay off the outstanding HDB loan and hence be eligible for any new loan as a first loan, before reaching MOP; 3) Any restrictions or things to note specifically regarding this arrangement? (notwithstanding the existing rules in place for usual purchases)
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1 Answer

Mike Lim
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Morning KB,

There's no way out but to fulfill the MOP of 5 years, whether you have purchased the unit with cold hard cash or utilized mortgage loan. For SC, upon fulfill the MOP, you are allowed purchase your second property and apply to rent out your HDB unit. You are not required to sell off your HDB unit though. As for the mortgage loan, it would be dependent on your age, income status, credit record and loan tenure.

Do feel free to contact me for detailed discussion.

Regards
Mike Lim
 96929209 
ERA Read More
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