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Hi Guru,
Currently I am staying in Marsiling executive flat. It is co-own by my mother and myself. I am now married and plan to buy a flat with my wife. Can my mother at age 60 buy a 3 rm resale flat? She has CPF of 100K. I am willing to pay for her monthly instalment for her flat. Will she be able to get bank loan with my assistance?
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5 Answers

Hi Mr Raguram,
An executive flat in Marsiling is able to fetch up to a price of of S$400K. I would need to know what was the sale price you and your mum got the unit for previously. The reason for this information is to verify if you are able to sell your executive unit and get a fully paid up 3 room flat.

As you mum is over 55 years of age, there is a regulation by CPF to maintain a certain amount of money in the CPF for retirement purposes.

With regards to the bank loan question, it will be possible for you to provide assistance for your mum. Please do get back to me @ 94385701  for more advices and i will be more than glad to be of a service to you. Thank you.

Best Regards
Dennis ERA
 94385701  Read More
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Jasmine Lim 林慧晶
Good Day Sir,

Yes your mum can still buy a 3m resale flat. depending on the amount of CPF she can utilise, if she is still working, and the amount to loan from the bank, banks may or may not if they find it not feasible.

You can pay for her monthly installment, but we need find out if the banks will loan to her in the first place.

We have a team that specialise in Woodlands area, do drop me a sms / email so i can share with you more updates.

Cheers,
Adrian Tay HSR
 81383865 
adrian@sgproperty.asia Read More
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"If you need more assistance with property matters:

like renting / selling, buying / or investing, I'm here to help!

WhatsApp me at: ABLE Toh>>9856 9255 or through this link.:https://wa.me/6598569255

(Unfortunately, this platform doesn't allow direct contact, but you can easily reach me )

You can check out my reviews here: https://www.propertyguru.com.sg/agent/able-s-k-toh-61591.

For buyers, I offer solutions for sourcing resale and new private homes at no charge.

I can connect you with reputable bankers for private housing loans free of charge and with no obligation.

I also have partners to assist with mortgage home insurance matters.

Let's seal this affinity by technology; please PM me your contact for assistance with your real estate needs. So, I believe in Affinity (Chinese word: 缘份) :), let's SEAL this AFFINITY Not by blood but by Technology > Please PM, Private Message your contact so that I CAN BE (EXTRA) PAIR OF HANDS / BRAIN and LEGS to Assist you NOW or FUTURE REAL ESTATE NEEDS!

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