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plliuxyh
17-12-11, 18:29
Hi Brothers,
I bought a 5RM HDB flat 10 years ago and a FH 3 bed 6 years ago. Do I need to sell my HDB if I buy a Landed home?
Also, can I use term loan to fund 40% new home down payment?
buttercarp
17-12-11, 19:16
Hi Brothers,
I bought a 5RM HDB flat 10 years ago and a FH 3 bed 6 years ago. Do I need to sell my HDB if I buy a Landed home?
Also, can I use term loan to fund 40% new home down payment?

You should email HDB for a written reply.

From what I know, you don't have to dispose your HDB since it is 10 years old already to buy a private property. But I am not sure about the 3rd property.
But you have to live in the HDB flat.

Presuming you don't have anymore loan, you should be able to get 80% loan for your new place, if still have outstanding loan, 60% loan for new place.

However, you will have to foot the 3% ABSD since this will be your 3rd residential property.
Laguna
17-12-11, 20:43
Hi Brothers,
I bought a 5RM HDB flat 10 years ago and a FH 3 bed 6 years ago. Do I need to sell my HDB if I buy a Landed home?
Also, can I use term loan to fund 40% new home down payment?

I dun think u hv a problem as the HDB MOP is over
but the bank may not allow u to use the term loan to buy property.
I think ur trying to get term loan 40% and mortagage loan of 60% for this property...
newbie11
17-12-11, 20:46
Term loan can be used for anything. No need to tell the bank that
ysyap
17-12-11, 20:49
From the little I understand, you certainly can buy private, whether landed or condo since your HDB MOP is up. Regarding the loan, if you still have outstanding loan whether from HDB or the condo, you can only loan 60% for the new landed.

You certainly must pay the ABSD as this is your 3rd property unless...

You need not stay in your hdb after MOP. Otherwise there is no such thing as HDB full unit rental market liao... All HDB flats are occupied by owners... :spliff:
buttercarp
17-12-11, 20:56
You need not stay in your hdb after MOP. Otherwise there is no such thing as HDB full unit rental market liao... All HDB flats are occupied by owners... :spliff:

Oops.......I did not read properly.:o

"Flat owner(s) and their families must continue to stay in their HDB flats after buying private residential properties. However, exception is made for those who have obtained prior approval from HDB to sublet their flats under the Subletting of Flat policy."

http://www.hdb.gov.sg/fi10/fi10325p.nsf/w/PrivatePtyProcedures?OpenDocument
ysyap
17-12-11, 21:03
Oops.......I did not read properly.:o

"Flat owner(s) and their families must continue to stay in their HDB flats after buying private residential properties. However, exception is made for those who have obtained prior approval from HDB to sublet their flats under the Subletting of Flat policy."

http://www.hdb.gov.sg/fi10/fi10325p.nsf/w/PrivatePtyProcedures?OpenDocument (http://www.hdb.gov.sg/fi10/fi10325p.nsf/w/PrivatePtyProcedures?OpenDocument)Yes yes... very important to write to HDB for permission to sublet the whole unit.. don't play with fire when it comes to this... otherwise HDB can confiscate your flat and you will just cry... :scared-4:
plliuxyh
17-12-11, 21:04
Oops.......I did not read properly.:o

"Flat owner(s) and their families must continue to stay in their HDB flats after buying private residential properties. However, exception is made for those who have obtained prior approval from HDB to sublet their flats under the Subletting of Flat policy."

http://www.hdb.gov.sg/fi10/fi10325p.nsf/w/PrivatePtyProcedures?OpenDocument (http://www.hdb.gov.sg/fi10/fi10325p.nsf/w/PrivatePtyProcedures?OpenDocument)

Greeting,
Very good info. Thanks a lot!
Mr. Peiling
ysyap
17-12-11, 21:26
Greeting,
Very good info. Thanks a lot!
Mr. PeilingRelax brother... give it another 3 months before deciding to enter for the kill... :sleep: Things might be clearer by then... :D
devilplate
17-12-11, 21:33
Hi Brothers,
I bought a 5RM HDB flat 10 years ago and a FH 3 bed 6 years ago. Do I need to sell my HDB if I buy a Landed home?
Also, can I use term loan to fund 40% new home down payment?
Can buy landed, no nid to sell hdb....np ;)

Can use term loan to buy another hse....but i tink better get equity loan approved first la :D
august
17-12-11, 21:40
third resdential property will be subjected to 3% ABSD. that's all.
devilplate
17-12-11, 21:44
third resdential property will be subjected to 3% ABSD. that's all.
Actually quite a big sum for 2-3mil purchase.....

Might as well sell away hdb
ysyap
17-12-11, 22:08
Actually quite a big sum for 2-3mil purchase.....

Might as well sell away hdbGood point... as the price of the 3rd or subsequent property increases, the prospect of holding on to HDB diminishes... :cool:
august
17-12-11, 22:12
Actually quite a big sum for 2-3mil purchase.....

Might as well sell away hdb

if the hdb is at good location, can keep. But wait later kena SERS and moved to inferior location LOL.
ysyap
18-12-11, 07:12
if the hdb is at good location, can keep. But wait later kena SERS and moved to inferior location LOL.Really depends on the rental yield... but I guess good location offers better rental yield. :spliff:
Geylang OKT
18-12-11, 21:17
Relax brother... give it another 3 months before deciding to enter for the kill... :sleep: Things might be clearer by then... :D

Bro, wait 6 months lagi more discount sales. No 50%-70% discount No Buy! :D
peterng8
19-12-11, 09:13
[quote=plliuxyh]Hi Brothers,
I bought a 5RM HDB flat 10 years ago and a FH 3 bed 6 years ago. Do I need to sell my HDB if I buy a Landed home?


No need.:o
peterng8
19-12-11, 09:20
Bro, wait 6 months lagi more discount sales. No 50%-70% discount No Buy! :D


DONT BUY at peak now and get caught or sink deeper as off load is not straight forward(recently and after CM5 unless bleed price) and also more TOP units coming in near future which pose a serious challenge to resale and rental in this uncetain environement and at the same time hoping that interest rate spike is at bay is another aspect to consider...:o