Asked by Lea Sera
I recently turned 30 years old and am currently separated from my ex-husband. Our divorce will be in September this year once my ex turns 35. We previously shared a BTO flat (Sales of Balance Flat) that was under both of our names. At the time of registration, I held PR status, and we jointly took an HDB loan.
On September 25, my ex will turn 35, and we will proceed with the divorce, at which point I will transfer the ownership of the flat to him without claiming any share of the unit. Afterwards, I plan to purchase a resale HDB unit with my mother, who holds an LTVP (for 5 years), while I am now a Singaporean citizen.
Currently, my monthly basic salary is 4500 SGD, plus a 60 SGD handphone allowance (excluding commission, which varies based on the annual package). I have a few questions and would appreciate some advice to help me make the best purchase decision.
Divorce and Flat Transfer Process: Are you familiar with the process of divorce and the transfer of flat ownership? I’d like to save time and start the process of acquiring a flat as soon as possible. Can I apply for HFE and start viewing flats while the divorce and transfer of ownership are ongoing? How does this work?
Service Fees: If I decide to engage your services, what are your fees, and what services would be provided to me?
Flat Options: Given my situation, what type of flat should I be looking at? As a second-timer, am I eligible for an HDB loan, or should I only consider a bank loan?
Loan Amount: Based on my current salary, how much can I expect to borrow under both HDB and bank loan options? Will my basic salary be the sole consideration, or will commission also be taken into account for loan assessment?
Older vs. Newer Flats (this is the most important thing I want to find out to narrow down the options, I need help with analysis and data with some case studies): I am aware that some older flats have fewer years remaining on their lease, but with my current basic pay, I’m not sure how many options are available. Could you provide advice and a comparison of the pros and cons of a newer flat (though it may be farther from the city) versus a more central flat with fewer years left on its lease? My family currently consists of 3 people looking (2 bedrooms / HDB 3 rooms flat), and we are looking for a place to stay long-term rather than for investment purposes. However, we might need to upgrade in the future if our family expands and my concern is if we could sell the unit to upgrade to a bigger one.
Thank you, and I look forward to your response.
On September 25, my ex will turn 35, and we will proceed with the divorce, at which point I will transfer the ownership of the flat to him without claiming any share of the unit. Afterwards, I plan to purchase a resale HDB unit with my mother, who holds an LTVP (for 5 years), while I am now a Singaporean citizen.
Currently, my monthly basic salary is 4500 SGD, plus a 60 SGD handphone allowance (excluding commission, which varies based on the annual package). I have a few questions and would appreciate some advice to help me make the best purchase decision.
Divorce and Flat Transfer Process: Are you familiar with the process of divorce and the transfer of flat ownership? I’d like to save time and start the process of acquiring a flat as soon as possible. Can I apply for HFE and start viewing flats while the divorce and transfer of ownership are ongoing? How does this work?
Service Fees: If I decide to engage your services, what are your fees, and what services would be provided to me?
Flat Options: Given my situation, what type of flat should I be looking at? As a second-timer, am I eligible for an HDB loan, or should I only consider a bank loan?
Loan Amount: Based on my current salary, how much can I expect to borrow under both HDB and bank loan options? Will my basic salary be the sole consideration, or will commission also be taken into account for loan assessment?
Older vs. Newer Flats (this is the most important thing I want to find out to narrow down the options, I need help with analysis and data with some case studies): I am aware that some older flats have fewer years remaining on their lease, but with my current basic pay, I’m not sure how many options are available. Could you provide advice and a comparison of the pros and cons of a newer flat (though it may be farther from the city) versus a more central flat with fewer years left on its lease? My family currently consists of 3 people looking (2 bedrooms / HDB 3 rooms flat), and we are looking for a place to stay long-term rather than for investment purposes. However, we might need to upgrade in the future if our family expands and my concern is if we could sell the unit to upgrade to a bigger one.
Thank you, and I look forward to your response.
81 views
