How to avoid forking 40% for 2nd properties onwards

[mygeemeel]

How to avoid forking 40% for 2nd properties onwards? Not that we can't afford, just want to spread out the money.

Does anyone know what are the pros and cons of buying residential properties using company?

[paulho77]

How to avoid forking 40% for 2nd properties onwards? Not that we can't afford, just want to spread out the money.

Does anyone know what are the pros and cons of buying residential properties using company?

buying residential properties under company name, u need to pay 10% stamp duty more

[Vincegoh]

How to avoid forking 40% for 2nd properties onwards? Not that we can't afford, just want to spread out the money.

Does anyone know what are the pros and cons of buying residential properties using company?

join YW's company. they offer 90% loan for 2nd ppty.

[Allthepies]

How to avoid forking 40% for 2nd properties onwards? Not that we can't afford, just want to spread out the money.

Does anyone know what are the pros and cons of buying residential properties using company?

I tot company even worst? All non human entity ie company after CM need to pay 50% downpayment?

[Arcachon]

join YW's company. they offer 90% loan for 2nd ppty.

Sorry to ask, what is YW's company.

[Vincegoh]

Sorry to ask, what is YW's company.

u can PM yowetan...

[tiverton18]

please refer to the thread on Flamingo Valley, and you will find the answer

[Sleepyhead]

2 options:

1. you designate your first property as second (assuming value has gone up, or you have paid down since you purchased, so you now have 60% LTV), then buy your second property, call it the first, so only need 80% LTV.

or

2. you can take out the equity from your first property back up to 80% LTV, use the freed up cash to finance the 60% LTV on the second property.

[primeesense]

2 options:

1. you designate your first property as second (assuming value has gone up, or you have paid down since you purchased, so you now have 60% LTV), then buy your second property, call it the first, so only need 80% LTV.

or

2. you can take out the equity from your first property back up to 80% LTV, use the freed up cash to finance the 60% LTV on the second property.

ooh wow, didn't know that is possible! do we just tell the bank that?

[lkwangli]

ooh wow, didn't know that is possible! do we just tell the bank that?

I just asked the banks a fortnight ago. Gearing up is now limited at 60% of market price, so you aren't going to get much money out of that first property.

[leesg123]

2 options:

1. you designate your first property as second (assuming value has gone up, or you have paid down since you purchased, so you now have 60% LTV), then buy your second property, call it the first, so only need 80% LTV.

or

2. you can take out the equity from your first property back up to 80% LTV, use the freed up cash to finance the 60% LTV on the second property.

Second option is not allowed by MAS. Equity loan cannot be used to purchase residential prop in SG.

[Regulators]

if want to avoid paying 40% on third property, just pass on the borrower status for second property to another person (spouse) n you will be entitled to 80% loan. Banks look at the number of mortgages you hold, not how many properties you own.

[Allthepies]

if want to avoid paying 40% on third property, just pass on the borrower status for second property to another person (spouse) n you will be entitled to 80% loan. Banks look at the number of mortgages you hold, not how many properties you own.

Loan borrowers and owners can be different? Any idea which bank is acceptable of this?

[imjason]

How to avoid forking 40% for 2nd properties onwards? Not that we can't afford, just want to spread out the money.

Does anyone know what are the pros and cons of buying residential properties using company?

Ok..now we know you are afford it

[may2012]

I just asked the banks a fortnight ago. Gearing up is now limited at 60% of market price, so you aren't going to get much money out of that first property.

yes, i did gear up and was upto 60% max only.

[CondoWE]

2 options:

1. you designate your first property as second (assuming value has gone up, or you have paid down since you purchased, so you now have 60% LTV), then buy your second property, call it the first, so only need 80% LTV.

You can't escape...so long you still have outstanding loan on hand, the bank will only allow 60% for your next property ?

[newbie11]

PM me if want to know more. I will share one of my most valuable insight.

[Regulators]

you can try uob

Loan borrowers and owners can be different? Any idea which bank is acceptable of this?

[CondoWE]

you can try uob

If can then can siam ABSD liao !

[Allthepies]

you can try uob

Thanks!

[mygeemeel]

Thanks to bros who contribute good info. The cock-a-nathan who send crap reply, go f spider.

[Regulators]

Absd cannot siam coz that one tied to ownership

If can then can siam ABSD liao !

[Adva181]

if want to avoid paying 40% on third property, just pass on the borrower status for second property to another person (spouse) n you will be entitled to 80% loan. Banks look at the number of mortgages you hold, not how many properties you own.

I do not think so. My dad bought a property n I am the borrower. But when I check his status if he can buy a 2nd property under 80% LTV, UOB still gives him 60% only.

[silver023]

I do not think so. My dad bought a property n I am the borrower. But when I check his status if he can buy a 2nd property under 80% LTV, UOB still gives him 60% only.

U might want to check again.

Could be due to other reasons.

[Laguna]

From what I know, equity term loan is up to 60% of the market value, less than the loan u have taken and amount need to pay back to CPF with accrued interest.

One word of cautious, the equity term loan cannot be used to buy property, if it is being found out, the options are :

1. payback the equity term loan or
2. prove that the loan is not used to buy property

[newbie11]

From what I know, equity term loan is up to 60% of the market value, less than the loan u have taken and amount need to pay back to CPF with accrued interest.

One word of cautious, the equity term loan cannot be used to buy property, if it is being found out, the options are :

1. payback the equity term loan or
2. prove that the loan is not used to buy property

for only property loan, term loan LTV can be up to 80%. Find out more on the LTV banks are offering.

there is no technical term to state can or cannot. however my advise to clients is the same as yours.

[stiook]

I do not think so. My dad bought a property n I am the borrower. But when I check his status if he can buy a 2nd property under 80% LTV, UOB still gives him 60% only.

You are right. I did that when I bought my property. Lawyer told me useless... as long as you are shown as a mortgagor, your property belongs to the bank. So in a way, you are like a borrower because the bank will just take back your property.

[Regulators]

Depends whether your father's first property is fully paid. If it is not, your loan will still remain as 60%.

I do not think so. My dad bought a property n I am the borrower. But when I check his status if he can buy a 2nd property under 80% LTV, UOB still gives him 60% only.

[Regulators]

To illustrate further, if wife is buying second property together with husband in joint name and wife already has existing loan but not husband, then husband can still apply for 80% loan for second property. Again this is subjected to bank's approval.

[CondoWE]

Absd cannot siam coz that one tied to ownership

How about purchase under brother/parent name but I'm the borrower? Can Siam Bo?