Hi guys,

just wanna ask regarding withdrawal of EPF to purchase house:


WITHDRAWAL TO PURCHASE A HOUSE PURPOSE

This withdrawal allows you to withdraw your Account 2 savings to finance the purchase of a house. Withdrawal to purchase a second house is allowed after the first house is sold or disposal of ownership of property has taken place. Disposal of ownership refers to ‘loss of ownership of the first house owned through previous EPF withdrawal’ either due to auction, surrender of property by court order, transfer of ownership because of love and affection, destruction of house due to natural disaster, abandoned housing project or cancellation of purchase.

---------------------------------------------------------


It states that for second house is able provided it is sold / transferred. Is it possible to transfer my first house to my sister / mother, based on the description above WHILE its still under bank loan, that I still continue paying. So for my second property I can withdraw my EPF, because by then my account would have more money as compared to now.

Thank you all.

This post has been edited by diversity: Sep 22 2015, 09:59 PM

You cannot transfer anything without clearing your loan with the bank.

Short answer, you cannot.

thanks for the answer

Did you withdraw from EPF for your first property? If not, you can withdraw on your 2nd property coz it will be your first withdrawal from EPF.

This post has been edited by thecaterpillar: Sep 25 2015, 05:36 PM

Wait bro, are you sure if second property (if first property no withdraw and still hold) can get?

I thought as in my first post, it can be for first / second house. But even for first house if no withdraw, must sell first only can get for second house?

Yes, their record is only for any withdrawal from EPF. if u didn't withdraw how they know u bought a house?

Anyway, if ur first house SPA is less than 3 years u can also withdraw. But whether they allow for direct bank in to u or direct into loan payment that I forgotten already. Just need to go check EPF site, the guideline is very clear.



The terms stated clearly that if u haven't withdraw before OR .... The later portion is condition for 2nd withdrawal.

This post has been edited by thecaterpillar: Sep 25 2015, 08:07 PM

Thank you dude I really appreciate it

No problem bro. U don't have to transfer first property or do anything that cost u money and headache if u know this.