Quick Answer: Can I Use CPF To Pay For My Second Property?

How much should I pay for a second house in Singapore?

In addition to higher cash down payment and a lower LTV, Singaporeans will now have to pay a 12% ABSD on either the property value or purchase price of a second residential property (whichever is higher).

PRs pay 15% ABSD for a second residential property, while foreigners cap off at 20%..

How much CPF can be used for property?

The WL is the maximum amount of CPF savings you can use to pay for the property. In general, this is 120% of your VL. For instance, your WL would be $576,000 for a property with a VL of $480,000.

How much is stamp duty for second property?

Buy-to-let and second home Stamp Duty tax bandsBracketsStandard rateBuy-to-let/second home rate (1st April 2016)Up to £125,0000%3%£125,001 – £250,0002%5%£250,001 – £925,0005%8%3 more rows

Can I use CPF to pay for 2nd property?

If you have used your CPF for your home and wish to use the excess of your CPF OA for a second property, you’re able to do this after setting aside the BRS. The total CPF Withdrawal Limit allowed for your second property is capped at 100% of the Valuation Limit.

How much CPF can I buy second property?

Yes, so long as you meet the conditions with regard to minimum sum in your CPF account. The total funds in your Ordinary Account (OA) and Special Account (SA) must exceed S$77,500 (or half of the prevailing minimum sum) before the excess can be used to pay for a second property.

How much can I loan for 2nd property?

For your first home purchase, you are eligible to borrow up to 75% of the property value if you’re taking up a bank loan. For your second property, your loan-to-value (LTV) ratio drops to 45% for loan tenures up to 30 years. If the loan tenure goes beyond 25 years or your 65th birthday, your LTV drops to 30%.