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Hi, I am currently still servicing my HDB loan and interested in purchasing a second property. Can I check what are the cash outlay that I have to prepare up-front (downpayment, ABSD, taxes etc)?

Also, are there still hire purchases options available in the market currently?
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1 Answer

Mike Lim
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Good morning,

In order to purchase your second property, you must have fulfill the MOP requirement. With this, you can proceed with the financial aspect on the second purchase. You can obtain maximum of 50% loan where 25% down payment have to be in cash and the other 25% can be made using CPF. This is subjected to the fact that you have set aside the CPF minimum required sum. ABSD for SC who is getting their second property is 7% of purchase price. Other standard fee like legal fee, standard stamp duty and tax refund payable to seller will also be payable.

Do feel free to contact me should you require further assistance.

Regards
Mike Lim
 96929209 
m52i@yahoo.com
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