Wednesday, November 01, 2006
[RealEdge] TodayOnline : Appeal is for third HDB concessionary loan, not second
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| Appeal is for third HDB concessionary loan, not second Wednesday ? November 1, 2006 Letter from Tay Boon Sun Senior Public Relations Officer for Director (Corporate Development) Housing & Development Board Please refer to the letter "HDB buyer not told of loan policy" by Ms Lim Le-Anne (Oct 16). Under the prevailing policy, flat owners are limited to two concessionary rate loans. Flat purchasers who are not eligible for the HDB concessionary rate loans can obtain mortgage financing from banks and financial institutions. Examples of such flat buyers include Singapore Permanent Residents, private property owners, households purchasing resale flats with a monthly household income of more than $8,000, and those families which have enjoyed two HDB concessionary rate loans previously. When buyers apply for an HDB concessionary loan via a purchase or transfer, they would need to fill up a concessionary rate loan application form. They will be required to indicate how many concessionary rate loans they have taken. When processing their loan application, our officers would also explain to them their eligibility and loan status. In instances where flat buyers are not eligible for an HDB concessionary rate loan and have difficulty in obtaining a bank loan, HDB will consider their appeals for an additional concessionary rate loan on a case-by-case basis. We would like to clarify that Ms Lim's husband, Mr Shang, was not denied a second concessionary loan after being included as a co-owner of his parents' 5-room flat in 2001. Mr Shang was granted a second concessionary loan from HDB when he purchased a 4-room flat with her in 2002. Mr Shang is appealing for a third concessionary loan currently. HDB will be replying to Mr Shang shortly on the outcome of his appeal. | |
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// posted by Shajahan @ 11:34 AM 