Jan 1 2016, 01:04 AM
QUOTE(Sinsanity @ Dec 31 2015, 03:07 PM)
Dear sifu, pls advice
my dad and i bought a studio unit around 300k.
SPA of the studio : his name and my name
loan : his name because i was a student back then
loan tenure : 13 years because my dad is 57 years old at tat time
loan installment : 2,2k (very expensive for me - im a working adult now)
Question :
1) can i change the loan agreement into my name to extend the loan tenure to 30 years to reduce the loan instalment?
2) maybe i can ask my dad to refinance the property using my name?
Possible?
Option 1 is more viable. In simple it means refinance the property and loan it under yr name. Others no need to touch. May try public bank and few other bank that accept 3rd part finance. If you need any contact may pm me. Can recommend you those bankers that process this.my dad and i bought a studio unit around 300k.
SPA of the studio : his name and my name
loan : his name because i was a student back then
loan tenure : 13 years because my dad is 57 years old at tat time
loan installment : 2,2k (very expensive for me - im a working adult now)
Question :
1) can i change the loan agreement into my name to extend the loan tenure to 30 years to reduce the loan instalment?
2) maybe i can ask my dad to refinance the property using my name?
Possible?
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