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Hi. We are currently staying in HDB and will be reaching 5 years soon. We are looking to move to a condo. However, based on my understanding, the bank will only grant us 50% loan as it will be considered as a second property due to the existing HDB loan. We will definitely be selling our HDB once the condo TOP, how is that still considered a second property? Is there anyway to circumvent this policy? Can we sign any undertaking letter etc?
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6 Answers

YT Tan (陈永达)
Good afternoon buyer,

I am checking with my banker whether can you sign an undertaking letter to obtain 80% in return to sell off HDB when condo TOP.

Usually you can do so if you purchase a HDB or new EC if you have an existing property.

May I know how can I get in touch with you when I receive any updates?

Warmest Regards,
YT TAN 陈永达 | ACCA Graduate, RES
Vice President (Agency)
R043025D
Property Avenue Pte Ltd
Estate Agent no. L3010650D
Blk 420 North Bridge Road #03-30 North Bridge Centre S188727

(M): +65 9111 5171 
(E): yt.lovelyhomes@gmail.com
(W): www.yttan.com Read More
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Hi buyer,

I assuming clearing off the current loan is not in your plan.

My advice would be to get a new condo that just/going to TOP, or simply get an ec which is the same.

Feel free to contact me for more information.

Thanks and regards,
Teck Chuan, Ng
BBA (Finance), NUS
ERA Realty Network Pte Ltd
Mobile: 9137 4602  Read More
1
Hi,

This will not be an issue if you are purchasing a new EC from developer, is that something you will be open to? Alternatively you can consider a private condo that is closer to TOP, thus the timelines can be managed accordingly, and you still get the 80% loan option.

The last resort would be to rent in the interim while the condo constructs. Selling earlier may be a positive thing since you can unlock the cash+cpf proceeds early and decide how much to use for your next property. Perhaps may I have more details so I can make better recommendations that suits your plans and objectives? Thanks and hope to value-add to your plans further.

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

Email: Ivanng10@gmail.com
Contact: (+65) 97432395 
Facebook Page: www.facebook.com/ASAProp
Website: http://www.ivanng10.com/#!reviews/c11r1
(Client's Testimonials) Read More
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GAN ENG JOO ONASSIS
Hi,

Re: Our Preferred Experienced SG Professional

Are your housing loan under bank. If yes, you can talk with your banker in finance your next housing loan.

Call us now, we can explore further in detail.

We are contactable at 92222389  or onassis@sgrealtor.com.

In all Areas of Singapore. Sale/Buy/Lease/Rent, Please call and/or drop me an email me. I’m always at your Services.

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Hi Owner.
Very easy, sell hdb then proceed to buy. I have assisted many of my clients to upgrade smoothly.
I would love to have a detailed discussion with you. You can reached me via 91442664  . Looking forward to hear from you.
Tricia Tan
Propnex
www.triciatan.myweb.sg Read More
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Hi, could I know is your current loan from the bank? With such a market sentiment, it is advisable to sell off your current unit first and then find a temporary housing for the time being while awaiting for the new condo to be TOP. Pls feel free to let me know if you need any assistance.

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