Arcachon
20-03-21, 08:25
‘Asset swapping’
And that was how Redbrick started in 2014: by helping property owners refinance and structure their property portfolios post-TDSR and post-MSR. “We help structure portfolios of people who want to pass their property to their children, or husbands and wives, as well as siblings swapping properties,” he says.
Such “asset swapping” is very efficient, notes Huang. Assume a parent wants to buy a new $5 million private home. He can transfer his existing residential property, which is worth $3 million, for example, to his wife or child. This would help in terms of savings in additional buyer’s stamp duty (ABSD) for the parent’s new property purchase, explains Huang.
In instances where a couple jointly own a property, and the husband is a Singapore citizen while the wife is a foreigner, Huang advises that the wife should buy the husband’s share. “This will free up the husband’s name to purchase a second property in the future,” he adds.
One of Redbrick’s clients is a family of four siblings who collectively own 12 residential properties and several commercial properties. “Every time one of them buys a property, it will start another round of asset-swapping among the siblings, their spouses, parents and children,” says Huang.
https://www.edgeprop.sg/property-news/redbrick%E2%80%99s-eugene-huang-reflections-mortgage-broker?utm_source=facebook&utm_medium=dlvr.it&utm_campaign=contentdistribution&utm_content=https%3A%2F%2Fwww.edgeprop.sg%2Ftep-solr%2Fapi%2Farticles%2FgetArticlesRssNew.php&fbclid=IwAR2mG9fKTMuks54B0xzxcqM0A8khrrcnexQtdFVvZLY33Oq-GdhnwuVGUuI
And that was how Redbrick started in 2014: by helping property owners refinance and structure their property portfolios post-TDSR and post-MSR. “We help structure portfolios of people who want to pass their property to their children, or husbands and wives, as well as siblings swapping properties,” he says.
Such “asset swapping” is very efficient, notes Huang. Assume a parent wants to buy a new $5 million private home. He can transfer his existing residential property, which is worth $3 million, for example, to his wife or child. This would help in terms of savings in additional buyer’s stamp duty (ABSD) for the parent’s new property purchase, explains Huang.
In instances where a couple jointly own a property, and the husband is a Singapore citizen while the wife is a foreigner, Huang advises that the wife should buy the husband’s share. “This will free up the husband’s name to purchase a second property in the future,” he adds.
One of Redbrick’s clients is a family of four siblings who collectively own 12 residential properties and several commercial properties. “Every time one of them buys a property, it will start another round of asset-swapping among the siblings, their spouses, parents and children,” says Huang.
https://www.edgeprop.sg/property-news/redbrick%E2%80%99s-eugene-huang-reflections-mortgage-broker?utm_source=facebook&utm_medium=dlvr.it&utm_campaign=contentdistribution&utm_content=https%3A%2F%2Fwww.edgeprop.sg%2Ftep-solr%2Fapi%2Farticles%2FgetArticlesRssNew.php&fbclid=IwAR2mG9fKTMuks54B0xzxcqM0A8khrrcnexQtdFVvZLY33Oq-GdhnwuVGUuI