New Hdb Rule!

[forgotten 1]

Thats is a fast reply. Sian liao, I thought levy will be lifted... Why dun this new rule come early so that I will not be taking bank loan as I am downgraded.

I also think it's better for u to take bank loan.

1. Can keep cash proceeds.

2. No. of MOP years is less.

3. Bank's interest rate now is less than HDB's one (2.6%)

Edited March 12, 2010 by forgotten

[bepgof 20]

Agreed. Bank loan is better at this juncture. Too many strings attached to hdb loan.

Edited March 13, 2010 by bepgof

[Plastic3 0]

Yup, Bank loan is looking more attractive with the new rules out....

somemore lowest rate for the 1st year is only 1.25%

[pixiepixel 0]

hello all

can i downgrade (eg 5rm hdb) my current flat (1st loan from hdb) to another (eg 4rm hdb) by taking a bank loan?

because i know we can only upgrade but cannot downgrade.

but now we can downgrade by taking the 2nd hdb loan. if i dont take the 2nd hdb loan, but bank loan instead, can i still downgrade?

thanks

[bepgof 20]

hello all

can i downgrade (eg 5rm hdb) my current flat (1st loan from hdb) to another (eg 4rm hdb) by taking a bank loan?

because i know we can only upgrade but cannot downgrade.

but now we can downgrade by taking the 2nd hdb loan. if i dont take the 2nd hdb loan, but bank loan instead, can i still downgrade?

thanks

I think HDB staff are most welcome u to do such, so less work to do. By bank loan, you can up or downgrade any time, so long as the bank wants to lend you money.

Edited May 17, 2010 by bepgof

[Roflmaoxz 0]

Morning guys, just wana ask some questions here.

I am aware that I have to pay the interest accrued by taking up HDB loan if I want to sell my HDB. This amt paid for interest accrued goes into my CPF OA or to HDB? Abit confused here.

2nd Qn, I am thinking of selling my resale HDB with no housing grant. I am going for a new HDB flat. So I do not need to pay the resale levy to HDB? I do not need to wait 30 mths to apply for a new HDB? I can actually apply online now for a flat I desired, and have to sell within 6 mths after paying the deposit for the new HDB flat? Roughly how long do I need to wait for HDB to issue us a cheque for the sale proceeds of my previous resale? Besides 1st time deposit & stamp fees, what other cost that I need to prepare for the new HDB flat?

Sorry for asking so many questions in this post.

Edited August 2, 2010 by Rof|maoxz

[therat 18]

Morning guys, just wana ask some questions here.

I am aware that I have to pay the interest accrued by taking up HDB loan if I want to sell my HDB. This amt paid for interest accrued goes into my CPF OA or to HDB? Abit confused here.

go to ur CPF OA

2nd Qn, I am thinking of selling my resale HDB with no housing grant. I am going for a new HDB flat. So I do not need to pay the resale levy to HDB? I do not need to wait 30 mths to apply for a new HDB?

If you never take new HDB or any housing grant before. You don't need to pay resale levy to the new HDB

30 mths waiting time is for private property owner want to buy new HDB or taking housing grant.

I can actually apply online now for a flat I desired, and have to sell within 6 mths after paying the deposit for the new HDB flat? Roughly how long do I need to wait for HDB to issue us a cheque for the sale proceeds of my previous resale? Besides 1st time deposit & stamp fees, what other cost that I need to prepare for the new HDB flat?

CHQ.. I think is 1 wk +/-

lawyer fee, mortgage fee, HPS

[bepgof 20]

Morning guys, just wana ask some questions here.

I am aware that I have to pay the interest accrued by taking up HDB loan if I want to sell my HDB. This amt paid for interest accrued goes into my CPF OA or to HDB? Abit confused here.

2nd Qn, I am thinking of selling my resale HDB with no housing grant. I am going for a new HDB flat. So I do not need to pay the resale levy to HDB? I do not need to wait 30 mths to apply for a new HDB? I can actually apply online now for a flat I desired, and have to sell within 6 mths after paying the deposit for the new HDB flat? Roughly how long do I need to wait for HDB to issue us a cheque for the sale proceeds of my previous resale? Besides 1st time deposit & stamp fees, what other cost that I need to prepare for the new HDB flat?

Sorry for asking so many questions in this post.

Q1. The accrued interest will be credited back into your CPF account.

Q2. If the "new flat" you are applying now is your 1st "subsidised" flat, then need not to pay levy. 30 months?Unless you are owning & staying in pte now, then need a 30 months period "to stay somewhere" without holding any pte pty title, before you can apply - can camp in changi beach le for 30 months.

Q3. Selling within 6 months refers to "you can maximum" holding on 2 hdb units, concurrently, for 6 months. Meaning you're allowed to register yr name with the "new flat" (day 1) and take time(within 6 months) to sell away "old "one. Usually, when receiving keys to unit is considered as day 1. Within 7 days, usually, right after 2nd appointment cheque will be received, could be as long as 14 days, or as short as 3 days, see which HDB officer handling yr case.

Last Q I don't know le. I think hdb loan & bank loan will be some differences here.

Edited August 2, 2010 by bepgof

[Warrior88 0]

lawyer fee, mortgage fee, HPS

Above can fund through CPF

But please note not the new ruling from Mar 2010 abt the 50% cash proceeds or $25,000, whichever lower for HDB loan.

[bepgof 20]

go to ur CPF OA

If you never take new HDB or any housing grant before. You don't need to pay resale levy to the new HDB

30 mths waiting time is for private property owner want to buy new HDB or taking housing grant.

CHQ.. I think is 1 wk +/-

lawyer fee, mortgage fee, HPS

Wow, u faster then me le, i tried to recall from memory & the neck kena "twisted" this morning, speed slow down le. The 30 months rule I think should be thrown into dustbin already.

Edited August 2, 2010 by bepgof

[bepgof 20]

Rof, think twice if you were to apply HDB "concessionary" Loan for the 2nd time.

Edited August 2, 2010 by bepgof

[Warrior88 0]

Rof, think twice if you were to apply HDB "concessionary" Loan for the 2nd time.

Yap, what bepgof say is right ! must think twice since you have the choice. Pros & cons. Short & long term.

[Roflmaoxz 0]

Thanks for the replies from therat, Warrior88 & bepgof.

Thanks bepgof, I will reconsider abt taking the 2nd HDB loan.

[therat 18]

30 mth rule still there.

I check last yr.

If want to buy new HDB or resale with grant, existing private property owner must sell away their property and roaming around the island for 30 mths

[Warrior88 0]

If got pte, sell em, no point buying another pte, cos got 30 mths rule.

So, no choice, buy resale, MOP=36 mths, then apply new hdb.

But then kena resale levy, if apply new hdb.

So, looks like you already decide your path when you bought your pte.

unless, you will to rent a home for 30 mths.