today went to hdb with my friend to do contra resale on 3rm and collect new 4rm flat key,was told cash proceed of 50% must be use to offset the loan on the new flat,so ended up staff said can only loan $26800.The 4rm flat was purchase at $294400. Does any one here think that it is very ridiculous even after appeal for higher loan and was rejected on the spot.:*:
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4RM New Hdb can only loan upto $26.8k
- Thread starter kengheng23
- Start date
Does not sound correct!!
But then, you did not give us the complete picture and numbers for those who are objective to comment. You only make two statements and want us to conclude based on your two statements?
(Dun worry people here will reply based on your 2 statements, Dr Chee Bye doggies will scream at HDB and PAP, while PAP doggies will scream at you!!)
Also, your friend have the choice to take a bank loan instead of HDB loan. Bank won't insist on cash proceed. What is stopping your friend from going to a bank instead?
But then, you did not give us the complete picture and numbers for those who are objective to comment. You only make two statements and want us to conclude based on your two statements?
(Dun worry people here will reply based on your 2 statements, Dr Chee Bye doggies will scream at HDB and PAP, while PAP doggies will scream at you!!)
Also, your friend have the choice to take a bank loan instead of HDB loan. Bank won't insist on cash proceed. What is stopping your friend from going to a bank instead?
If he can down that amount, just down it lor. HDB interest rate is much higher compare to Bank rate at this moment.
Did your friend tick the lightning logo last GE?
He deserved what he's getting now.,
Maybe his friend is Dr Chee Bye's doggies?
What kinda stupid policy is that? I suggest your friend go to banks like POSB, UOB, HSBC, etc. to take mortgage loans rather than HDB then. Banks won't insist on cash proceeds, etc. The interest may be slightly higher than HDB but if you invest that 50%, you can get better returns which will surely cover the higher interest.
this was part of the measures to curb speculation - by forcing those sellers to pump in their proceeds into the next flat instead of getting the cash & spend them all.
What speculation shit?
They want to lock up your monies.
Make you work be productive and a slave to that pigeonhole.
In a nutshell how much they like to tell you your flat is worth but you cannot realize the gains.
HDB along with CPF are biggest scams.
Peasants who voted pap deserve their fate.
You wouLd probabLy be more secure with HDB Loans; because if you take other Loans with any commerciaL
financiaL institutions, the moment that 3 strikes' come ; and your are out !
With HDB Loans, you can stiLL opt for various payment options; in the event you are unempLoyed etcc..
Worrying sign. Another reason could be Gaberment no money liao. :p
Not very true nowadays.
Hehehehe. P' NW, you got it 101% right. Pappies have been using fear to HDB/CPF to threaten peasants of decades. Luckily I managed to get out of this shit. I don't owe HDB any money and not even Singtel, M1, Starhub, PUB, Town Councils. So pappies LAN LAN. My advice to fellow is to owe as little as possible so that the pappies cannot Lap Sorb you.
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