CPF loan rules for older HDB resale flats to be relaxed | Singapore Business Review
The Housing and Development Board eyes relaxing CPF loan rules on the purchase of older Housing Board resale flats, the Ministry for National Development revealed. The changes will be announced for implementation in May this year.
ERA Realty Network key executive officer Eugene Lim commented, “The relaxation of CPF loan rules will be welcomed by many, especially owners of older flats who are looking to sell their flats. Ageing owners who are looking to right size would also benefit from this as it would make it easier for them to sell their flat. This could boost the prices of older flats once implemented.”This is one of the new policies intended to support lower-income families.
HDB will also set up a Home ownership Support Team that will advise rental tenants on their housing budget and options, the grants and schemes available to help them, and the flat-buying process. Moreover, divorcing parties will no longer have to wait until they have obtained the Final Judgement of divorce in order to apply for a flat. Instead, starting from the May 2019 sales exercise, divorcing parties can apply for a new flat from HDB if they have obtained an Interim Judgement of divorce and have settled the ancillary matters on their matrimonial property, and the custody, care and control of their children.
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