Outline ·
[ Standard ] ·
Linear+
EPF Withdrawal after lost of 1st house ownership, But still serving the financing for it
|
TSivn79
|
May 24 2017, 10:32 PM, updated 9y ago
|
Getting Started

|
Hi all.
I planned to transfer my house ownership to other (with new S&P) but this house I will still serving the financing for it. I have withdraw the EPF many years ago when purchasing it that time.
Question : Can I withdraw my EPF for my recently bought new house? Because the ownership soon to be transfer.
Will the kwsp approve it? Thx
This post has been edited by ivn79: May 24 2017, 10:33 PM
|
|
|
|
|
|
TSivn79
|
May 25 2017, 11:12 PM
|
Getting Started

|
QUOTE(kirakun @ May 25 2017, 02:42 PM) EPF/KWSP withdrawal is applicable for 1st and 2nd house. For 2nd house purchase, the withdrawal can only be processed provided that the 1st house is sold with proof of S&P agreement produced on application. For your case, as long as u can produced the new S&P agreement showing that u have sold your share to the other on the 1st house, you shouldn't have any problem getting epf withdrawn for the 2nd house purchase. Do note that epf/kwsp withdrawal is limited to 1st and 2nd house purchase only. Thank you so much for your sharing. Means that kwsp won't take consideration whether u have still serving the financing for another property, as long as the new S&P has clearly define that I don't have the ownership already. They will proceed with the EPF withdrawal process, to said that I met all other requirements. Correct me if I'm wrong. Thx 🤔 This post has been edited by ivn79: May 25 2017, 11:18 PM
|
|
|
|
|
|
TSivn79
|
May 26 2017, 01:27 PM
|
Getting Started

|
QUOTE(kirakun @ May 26 2017, 11:33 AM) Exactly. Epf will not check your account detail. As long as you can provide proof of ownership transfer at the counter, u can do the withdrawal. Don't forget to bring along your s&p for the 2nd house purchase. Thank you so much kirakun. Appreciate it! This post has been edited by ivn79: May 26 2017, 01:27 PM
|
|
|
|
|
|
TSivn79
|
Jul 31 2017, 07:16 PM
|
Getting Started

|
QUOTE(wild_card_my @ Jul 8 2017, 06:58 PM) did you manage to get it through? When you transfer ownership of the house, you will need a new SPA and with that a new financing. How did you manage to transfer the name on the SPA (essentially getting new S&P) without getting a new financing and thus, a new Loan Agreement (LA)? You will not get the original SPA and geran from the bank unless you make the full settlement of the loan, and once that loan is fully settled, you would need to apply for a new mortgage for the new SPA... I haven't make any ownership transfer. Hmm... one question here, do we really need to reapply for a new loan in order to transfer the name in S&P? As far as I know, as long as I lose my ownership of my current property (to remove my name in S&P), I'll able to withdraw my EPF accordingly based on my recently purchased new property. Correct me if I'm wrong.
|
|
|
|
|