Has anyone done this Owner & Essential Occupier scheme? What are the challenges faced? - Seedly

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Asked by Anonymous

Asked on 16 Jul 2019

Has anyone done this Owner & Essential Occupier scheme? What are the challenges faced?

My fiancée and I have an upcoming BTO flat in 2021. We are going through the Owner & Essential Occupier scheme, i.e. use 1 person's (Owner) income to support the hdb flat. 5 yrs later, the Essential Occupier will then purchase a private property for investment without incurring the ABSD. Has anyone done this before/ is doing that now? What are the challenges faced?

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Leo Kwek
Leo Kwek
Level 2. Rookie
Answered 3w ago

I have not done this myself before but personally know of someone who did.

I think there are 2 challenges you might face. Firstly is the burden of obtaining and servicing mortgage loan by the Owner and secondly is the level of trust between you and your fiancee.

If the Owner's income is sufficient to obtain the required mortgage loan then this will not be an issue.

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