May 30 2020, 03:45 AM
QUOTE(reed90 @ May 29 2020, 12:09 PM)
hi guys
wanna ask regarding LPPSA
1. is it possible to get a 100% loan on 2nd property?
2. it is said that i have to appoint a lawyer to facilitate the process. Can a property agent fill this role? or if not, any cost estimates?
1. Unclear question. Assuming 1st property using bank loan, then yes can get 100% loan using LPPSA. Coz LPPSA just base on your pay slip. Will not check your CCRIS record so not able to know you are currently financing a property under bank loan. wanna ask regarding LPPSA
1. is it possible to get a 100% loan on 2nd property?
2. it is said that i have to appoint a lawyer to facilitate the process. Can a property agent fill this role? or if not, any cost estimates?
For investors, if they are qualified to take government loan usually they will load up their first two quota using bank loan, and then only buy the 3rd property still with 100% loan using LPPSA.
2. No different compare to bank loan. Is the same need to appoint a lawyer to do the loan agreement. There are many lawyer panel to LPPSA. You may scout around and ask for quotations from few sources to compare.
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