SINGAPORE — From Tuesday (May 9), people looking to buy Housing and Development Board (HDB) flats will have their incomes assessed over a period of 12 months, instead of the most recent three or six months.
Announcing the changes on Monday night, HDB said it would also make changes to grant disbursements from Tuesday.
Buyers' personal particulars will be retrieved from Myinfo or eligibility assessment, reducing the number of documents they will need to submit to HDB. Applicants with a firm intent to buy a flat may proceed to the next step to apply for an HFE letter. They can do so either immediately in the same session after completing step 1, or within 30 calendar days of starting step 1.To apply for an HFE letter, all applicants and occupiers will need to log in to the HDB Flat Portal using their Singpass to retrieve their personal particulars from Myinfo and fill up the application.
Other changes include the cut-off date of the income assessment period and income components considered. "This is a fairer approach as the Singaporean or permanent resident core occupier will be treated as a second-timer after enjoying a housing grant, similar to Singaporean core applicants," said HDB.
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