Asked by Anonymous
How to go about the process of HDB conversion scheme when I am an existing HDB owner with an outstanding bank loan?
I have seen the process on HDB website but it is not very clear.
A few questions:
1. HDB requires that i discharge my existing loan before i can proceed with conversion. Are there loan arrangements to enable this?
2. For the new loan, how would the downpayment required be established? is it solely based on valuation of new unit only or the combined unit. And how would my decision in (1) affect this.
I have seen the process on HDB website but it is not very clear.
A few questions:
1. HDB requires that i discharge my existing loan before i can proceed with conversion. Are there loan arrangements to enable this?
2. For the new loan, how would the downpayment required be established? is it solely based on valuation of new unit only or the combined unit. And how would my decision in (1) affect this.
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