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Anonymous

07 Jun 2021

∙

Are foreign spouse salary included in bank mortgage loan amount? For hdb resale.

Hi, I’m a singaporean and my wife is a foreigner holding ltvp. May I know if I am going to take up a bank loan, will the banks include my wife (ltvp) salary and calculate how much mortgage loan I can get?

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Redbrick Mortgage Advisory

07 Jun 2021

Maestro at Redbrick Mortgage Advisory

Hi there! Your wife will be named as an essential occupier to form a family nucleus for eligibility of purchase.

However, she will not be a mortgagor (owner of the property) and in accordance to the MAS Notice 632 released on 29th June 2013, all borrowers need to be mortgagor.

As such, banks generally will not recognize her income during the loan application.

~ Colin Lim

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