How much you can borrower is not the 1st criteria.

How much is 1st House applicant salary and other loan commitments ?

Similarly, how much is 3rd House salary and other loan commitments ?

How much is the property ?

It can be 1st house for both borrowers, but if other loan commitments are high, your wont get 90%.

If you are relying on general answers to make a purchase, I advise you to reconsider.

Dont get me wrong of course I wasn't expecting to pay nothing upfront i just want to know what are my available financing options so I can plan what kind of house that I can afford for subsales since things arent as straightforward compared to new launches.

And definitely wont go for personal loan since the interest is crazy high and there is hardly any investment that can cover that kind of interest

I see. But for 3rd property 90% that is a special exception made recently right? So if the government remove it then it will be back to 70% non-negotiable? Just asking to have better understanding. I doubt I can afford to have 3housing loans at a time

yup i think when things get better then it will be revoke.

Maybe I forgot to add that this is assuming the applicant(s) can afford the loan i.e. DSR <70% after including the house loan and all commitments. Because I am asking to understand how the loan works in terms of down payment and fees etc and see how it differs from loans for new launches so will want to simplify things here to make is less complicated.

This post has been edited by berrycoo~: Dec 30 2021, 07:07 PM

Sorry , what I mean was , the bank will take the lower value of S&P and bank valuation. Depending whether its your 1st/2nd or 3rd hluse, 90 % or 70& of that value.

Many would think that they can jet up the S&P price to get more loan but you cant.

Ya, the banks will need a valuation report from one of the valuers in their panel. If you can't find one that will give you higher valuation, then cannot mark up SPA price.

To TS, sorry for hopping onto your thread but I am also in the middle of buying a subsale. Paid 3.18% last month but the owner has been delaying his part. Today, received a call from agent.. who said the seller backed out.. what do I do? The agent recommended additional fee for LOD.. but I dont even know if I should move forward. Please share your thoughts..

In an agency letter for purchase and sale, ......

1. If the purchaser decides not to cont the purchase or failed to sign the SnP within reasonable time after few reminders from seller or agent, then the seller can forfeit the deposit.

2. if the seller decided not to to sell after signing the letter, he has to instruct the agent to refund the deposit and to pay additional amount equivalent to the deposit as compensation to the buyer.

The agency must return the deposit and if they failed to do so, you can report the case to LPPEH. They will be called up to explain and if they still fail to do so, then the agency will be delisted and not allow to carry estate agency work in future.

In addition, all estate agency must purchase an indemnity insurance.

If the seller refuse to pay the purchaser compensation for breach of contract, then the agent cannot fo anything. The purchaser have to then sue the seller personally.

This post has been edited by mini orchard: Mar 9 2022, 02:49 PM