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145 replies to this topic | 610 praises

#1

Posted 09 May 2019 - 05:06 PM

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New rules on using CPF for HDB:

https://www.channeln...s-home-11518170


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#2

Posted 09 May 2019 - 05:12 PM

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split the thread and this is gonna generate many discussions here


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#3

Posted 09 May 2019 - 05:20 PM

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Lai liao lai liao...

#4

Posted 09 May 2019 - 05:33 PM

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Lai liao lai liao...

what the fact....instead of tightening the criteria they go and increase the age to 95......huat ar....up up and away!
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#5

Posted 09 May 2019 - 05:38 PM

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FH for the win

Page 1 yes.



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#6

Posted 09 May 2019 - 05:45 PM

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Divorce to marry younger spouse will have benefits.



#7

Posted 09 May 2019 - 05:51 PM

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I wonder how much a $1.2 mil HDB would worth when it reaches 90 years old. Those who bought it at high price had probably hoped that they will not the one holding the ball when the music stops.

Edited by Ct3833, 09 May 2019 - 05:53 PM.


#8

Posted 09 May 2019 - 05:56 PM

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Divorce to marry younger spouse will have benefits.

I think you got it wrong, it say the lease must be able to cover the younger spouse till age 95 if want to use maximum CPF to purchase. Meaning the younger spouse is 30 years old, the remaining lease of the resale flat you want to buy is 60 years, the CPF usage will be pro-rated and worse of all, when you reach 55, the amount of CPF you can withdraw above the basic retirement sum will be reduce.


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#9

Posted 09 May 2019 - 06:01 PM

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This is a tremendous booster for old leasehold.
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#10

Posted 09 May 2019 - 06:08 PM

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I think you got it wrong, it say the lease must be able to cover the younger spouse till age 95 if want to use maximum CPF to purchase. Meaning the younger spouse is 30 years old, the remaining lease of the resale flat you want to buy is 60 years, the CPF usage will be pro-rated and worse of all, when you reach 55, the amount of CPF you can withdraw above the basic retirement sum will be reduce.

Now that is a good reason to marry someone older. Haa

#11

Posted 09 May 2019 - 06:29 PM

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Propping up the market for old HDB?

Hidden somewhere seems to be no CPF withdrawal at 55 if one does not have property... True?

#12

Posted 09 May 2019 - 06:37 PM

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This is a tremendous booster for old leasehold.

no lei.......the lease is not extended only the loan can be extended by age!
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#13

Posted 09 May 2019 - 06:42 PM

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Propping up the market for old HDB?

Hidden somewhere seems to be no CPF withdrawal at 55 if one does not have property... True?

Ya that is disturbing
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#14

Posted 09 May 2019 - 06:44 PM

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Ya that is disturbing

Nit disturbing wat... People asked for help now govt helping liao ma.. Help... 不

#15

Posted 09 May 2019 - 06:56 PM

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wah... in the end also depreciate to zero

why try so hard to prop up the value esp when the time is running out


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#16

Posted 09 May 2019 - 07:00 PM

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wah... in the end also depreciate to zero

why try so hard to prop up the value esp when the time is running out

簸竅簸

Kicking the can down the road....

In years new policy would be 10 years min lease.

#17

Posted 09 May 2019 - 07:24 PM

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Prop up old flats ......... new flats can sell higher $ ........ HDB Huat again

#18

Posted 09 May 2019 - 07:49 PM

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wah... in the end also depreciate to zero

why try so hard to prop up the value esp when the time is running out

Maybe to generate feel-good effect?
You know the every time I see the market value of my HDB, I feel rich kind of feeling .

Edited by RH1667, 09 May 2019 - 07:50 PM.

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#19

Posted 09 May 2019 - 08:11 PM

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This is a tremendous booster for old leasehold.

 

how come benefit old flat ? 

 

 

The CPF part easy to understand . 

Property lease now needs to cover Sporeans until 95 for CPF withdrawal above Basic Retirement Sum

 

 

https://mothership.s...A23JK9gYIejaY_A

 

 

 

The CPF loan part : 

 

https://mothership.s...A8FVhMNMXeA6bXQ

 

 

How it will work

 

But with the new rules, the criteria has changed.

 

The updated HDB loan rules now focus on lease coverage for the buyer.

 

The flat being bought needs to cover the age of the youngest buyer until the age of 95.

 

Lets say the buyer is 40 years old, then the flat needs to have a lease of 55 years.

 

But if the buyer is purchasing the flat together with a 30-year-old partner, then the lease on the flat needs to have 65 years left.

 

Once this criteria is met, the HDB loan of up to a LTV limit of 90 percent will be extended.

 

A buyer can still get a HDB loan if he or she doesnt meet the age requirement, although it will be pro-rated from 90 percent.

 

But if the property has a lease of 20 years remaining or less, then you dont get a loan at all.

 


Edited by Angcheek, 09 May 2019 - 08:14 PM.

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#20

Posted 09 May 2019 - 08:14 PM

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I suppose it will prevent some people from using up all their CPF to buy an expensive but old HDB. He might be forced to move out of the HDB when the lease is up, and got no CPF left. Homeless, and penniless. Double whammy.




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