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Hi, my husband name is currently in the joint ownership with the parents.

If they pay off the balance outstanding bank loan and purchase the second property with me, can we still get a full 80% loan from bank? Also other then the 7% stamp duties will be incurred, any other thing that we need to take note?
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5 Answers

Hi,

Yes as there are no longer outstanding mortgage loan after paying off the current bank loan, the next bank loan max LTV will be 80%. The BSD+ABSD will be 10% stamp duties in total.

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

Warm Regards,
Ivan Ng ERA ASAP
(ASk Anything Property)
Proactive. Sincerity. Feedback.
SMU BBM (Finance), Magna Cum Laude

Email: Ivanng10@gmail.com
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Evening,

Once the current mortgage have being cleared, you are eligible to obtain 80% loan for the next purchase. Assuming all buyers are SC and this is the second property count for your spouse, ABSD is payable at 7%.

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

Regards
Mike Lim
 96929209 
m52i@yahoo.com
ERA Read More
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Dear Mdm,

You will be eligible for 80% max loan as long as all the owners of this upcoming property do not have any outstanding mortgage residential loan.

You will need to factor in the 7% Additional Buyer Stamp Duty (ABSD) into your financial planning since this will be your 2nd property. Other costs that you need to factor in will be the conveyancing cost which should be in the region of 2k plus.

Please feel free to contact me so that I can assist you further!

Regards,
Nick Tan
(M) +65 9644 4854 
B.Eng(Chemical)(Hons)(NUS)
Cert-in-REA
(E) nick96444854@gmail.com
(W) www.nick-tan.com

Testimonial from Satisfied Clients (2016)
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Robbie Chen Chee Howe
Hi Ms,

Yes you're right. As long as your husband do not have any outstanding mortgage loan, he will be able to loan up to 80% (property price or valuation price, whichever is lower) for the next property.

Do note that ABSD will be 7%. However, there may be some ways for you to avoid paying this 7% ABSD, which you may want to consider this option.

Should you need any further assistance in matters relating to property, please contact me at my mobile 9748 6305  . I will be happy to assess and share with you the possibilities for you and your partner in the current market.

Thank you.

Best regards,
Robbie Chen
 9748 6305 
PropNex Realty Read More
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Joanne Chia 谢诗琳
Good day madam .

Would your husband family consider buying a smaller cheaper hdb to free up your husband name in the present hdb . Thereafter you and your husband can buy a property without paying ABSD .

Kindly contact me for a no obligations chat for your property needs .

My charges are 1% commission for exclusive selling rights ( sole agent ) to your hdb or 2% for open listing ( many agents ) .

Joanne Chia
Chia_joanne@yahoo.com.sg
Hp 8333 3327  Read More
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