The newest maximum boasts the a great costs you’ve got, including auto loans, unsecured loans and you will mastercard stability
With rising cost of living dominating headlines inside current days, rates are ready to go up then on coming months. If you have come attending and get the next possessions, this is an enjoyable experience to begin with lookin because an effective boost in interest rate could imply stabilisation out of possessions rates.
Other than the cost of the property, there are numerous something might need to be mindful of whenever to buy a second domestic, including eligibility, value and you can intention.
Qualification
If you own a private assets, then you will be free to purchase an extra private assets without the courtroom ramifications. However, when your first home is a community construction, whether it’s a create-to-Purchase (BTO) apartment, selling HDB apartment, administrator condominium (EC), otherwise Structure, Generate market Scheme (DBSS) flats, then you’ll need certainly to fulfil particular conditions prior to you buy.
HDB apartments have a good 5-seasons Minimum Community Period (MOP) needs, which means that you’d need reside you to definitely property to have a good at least five years one which just offer otherwise book your own flat.