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HDB to check on flat sellers
04:46 AM Mar 03, 2012
by Sumita Sreedharan
SINGAPORE - To ensure families have a viable housing option before selling their flats, the Housing and Development Board (HDB) will be taking up suggestions to tighten financial counselling and step up checks on prospective sellers, said National Development Minister Khaw Boon Wan.
These were among the announcements made at the Committee of Supply debate yesterday, where Mr Khaw outlined the ministry's vision of more compassionate housing policies.
The suggestions came from West Coast GRC Member of Parliament (MP) Foo Mee Har, who had highlighted situations where families were selling their flats to pay their debts or short-term expenses, many under the duress of loan sharks.
"Where we suspect that the sale would do more harm for the family, we will actively discourage the sale," said Mr Khaw.
In addition, unscrupulous estate agents who partner loansharks would be flushed out, and a way to prevent the loan sharks from getting the cash proceeds from the sale of the flat must be found, said Mr Khaw.
He also highlighted a pilot scheme by Ministry of National Development Senior Parliamentary Secretary Mohamad Maliki Osman in his constituency in East Coast GRC to help vulnerable families improve their lot with better jobs and better education for their children.
"Ultimately, our objective is to get families into home ownership. Public rental should only be an interim, not a permanent arrangement," he said.
Mr Khaw also gave an update on the HDB's efforts to help rental flat applicants: 3,300 families were successfully placed in rental flats last year.
In addition, 340 households transited from public rental into home ownership.
Among them was chicken processor Azhari Bin Abdul Malek, who collected the keys to his new flat in Punggol in December. With the help of an additional housing grant of S$40,000, he was able to service his HDB loan using just his Central Provident Fund.
Said Mr Azhari, 31, who had lived in rental flats for five years: "As no cash is involved, I can save the money for my children and pay for their education."
URL http://www.todayonline.com/Singapore/EDC120303-0000053/HDB-to-check-on-flat-sellers
Copyright 2012 MediaCorp Pte Ltd | All Rights Reserved
HDB to check on flat sellers
04:46 AM Mar 03, 2012
by Sumita Sreedharan
SINGAPORE - To ensure families have a viable housing option before selling their flats, the Housing and Development Board (HDB) will be taking up suggestions to tighten financial counselling and step up checks on prospective sellers, said National Development Minister Khaw Boon Wan.
These were among the announcements made at the Committee of Supply debate yesterday, where Mr Khaw outlined the ministry's vision of more compassionate housing policies.
The suggestions came from West Coast GRC Member of Parliament (MP) Foo Mee Har, who had highlighted situations where families were selling their flats to pay their debts or short-term expenses, many under the duress of loan sharks.
"Where we suspect that the sale would do more harm for the family, we will actively discourage the sale," said Mr Khaw.
In addition, unscrupulous estate agents who partner loansharks would be flushed out, and a way to prevent the loan sharks from getting the cash proceeds from the sale of the flat must be found, said Mr Khaw.
He also highlighted a pilot scheme by Ministry of National Development Senior Parliamentary Secretary Mohamad Maliki Osman in his constituency in East Coast GRC to help vulnerable families improve their lot with better jobs and better education for their children.
"Ultimately, our objective is to get families into home ownership. Public rental should only be an interim, not a permanent arrangement," he said.
Mr Khaw also gave an update on the HDB's efforts to help rental flat applicants: 3,300 families were successfully placed in rental flats last year.
In addition, 340 households transited from public rental into home ownership.
Among them was chicken processor Azhari Bin Abdul Malek, who collected the keys to his new flat in Punggol in December. With the help of an additional housing grant of S$40,000, he was able to service his HDB loan using just his Central Provident Fund.
Said Mr Azhari, 31, who had lived in rental flats for five years: "As no cash is involved, I can save the money for my children and pay for their education."
URL http://www.todayonline.com/Singapore/EDC120303-0000053/HDB-to-check-on-flat-sellers
Copyright 2012 MediaCorp Pte Ltd | All Rights Reservedy
HDB to check on flat sellers
04:46 AM Mar 03, 2012
by Sumita Sreedharan
SINGAPORE - To ensure families have a viable housing option before selling their flats, the Housing and Development Board (HDB) will be taking up suggestions to tighten financial counselling and step up checks on prospective sellers, said National Development Minister Khaw Boon Wan.
These were among the announcements made at the Committee of Supply debate yesterday, where Mr Khaw outlined the ministry's vision of more compassionate housing policies.
The suggestions came from West Coast GRC Member of Parliament (MP) Foo Mee Har, who had highlighted situations where families were selling their flats to pay their debts or short-term expenses, many under the duress of loan sharks.
"Where we suspect that the sale would do more harm for the family, we will actively discourage the sale," said Mr Khaw.
In addition, unscrupulous estate agents who partner loansharks would be flushed out, and a way to prevent the loan sharks from getting the cash proceeds from the sale of the flat must be found, said Mr Khaw.
He also highlighted a pilot scheme by Ministry of National Development Senior Parliamentary Secretary Mohamad Maliki Osman in his constituency in East Coast GRC to help vulnerable families improve their lot with better jobs and better education for their children.
"Ultimately, our objective is to get families into home ownership. Public rental should only be an interim, not a permanent arrangement," he said.
Mr Khaw also gave an update on the HDB's efforts to help rental flat applicants: 3,300 families were successfully placed in rental flats last year.
In addition, 340 households transited from public rental into home ownership.
Among them was chicken processor Azhari Bin Abdul Malek, who collected the keys to his new flat in Punggol in December. With the help of an additional housing grant of S$40,000, he was able to service his HDB loan using just his Central Provident Fund.
Said Mr Azhari, 31, who had lived in rental flats for five years: "As no cash is involved, I can save the money for my children and pay for their education."
URL http://www.todayonline.com/Singapore/EDC120303-0000053/HDB-to-check-on-flat-sellers
Copyright 2012 MediaCorp Pte Ltd | All Rights Reserved
HDB to check on flat sellers
04:46 AM Mar 03, 2012
by Sumita Sreedharan
SINGAPORE - To ensure families have a viable housing option before selling their flats, the Housing and Development Board (HDB) will be taking up suggestions to tighten financial counselling and step up checks on prospective sellers, said National Development Minister Khaw Boon Wan.
These were among the announcements made at the Committee of Supply debate yesterday, where Mr Khaw outlined the ministry's vision of more compassionate housing policies.
The suggestions came from West Coast GRC Member of Parliament (MP) Foo Mee Har, who had highlighted situations where families were selling their flats to pay their debts or short-term expenses, many under the duress of loan sharks.
"Where we suspect that the sale would do more harm for the family, we will actively discourage the sale," said Mr Khaw.
In addition, unscrupulous estate agents who partner loansharks would be flushed out, and a way to prevent the loan sharks from getting the cash proceeds from the sale of the flat must be found, said Mr Khaw.
He also highlighted a pilot scheme by Ministry of National Development Senior Parliamentary Secretary Mohamad Maliki Osman in his constituency in East Coast GRC to help vulnerable families improve their lot with better jobs and better education for their children.
"Ultimately, our objective is to get families into home ownership. Public rental should only be an interim, not a permanent arrangement," he said.
Mr Khaw also gave an update on the HDB's efforts to help rental flat applicants: 3,300 families were successfully placed in rental flats last year.
In addition, 340 households transited from public rental into home ownership.
Among them was chicken processor Azhari Bin Abdul Malek, who collected the keys to his new flat in Punggol in December. With the help of an additional housing grant of S$40,000, he was able to service his HDB loan using just his Central Provident Fund.
Said Mr Azhari, 31, who had lived in rental flats for five years: "As no cash is involved, I can save the money for my children and pay for their education."
URL http://www.todayonline.com/Singapore/EDC120303-0000053/HDB-to-check-on-flat-sellers
Copyright 2012 MediaCorp Pte Ltd | All Rights Reservedy
