Data on mortgage and grant eligibility ought to be streamlined right into a single doc for HDB house patrons


SINGAPORE: Housing & Improvement Board (HDB) house patrons can anticipate a extra streamlined shopping for course of when new on-line options are rolled out on the HDB Flat Portal later this yr.

This features a new doc that may consolidate findings on patrons’ eligibility for a brand new house buy or resale, and the quantity of housing subsidies and HDB loans they’re entitled to, HDB mentioned in an announcement Thursday. (March 4).

At the moment, eligibility for various parts is assessed at totally different levels of the house shopping for journey.

These will likely be built-in right into a single utility on the Flat Portal, leading to a doc known as the HDB Flat Letter of Eligibility.

It would exchange the present HDB mortgage eligibility letter, which is in precept a qualification for a Housing Council mortgage.

READ: Over 1,500 residences bought below HDB’s open reserving program

Asserting the initiative in parliament, Nationwide Improvement Minister Desmond Lee mentioned the transfer would supply patrons with “preliminary readability and complete info on their housing and financing choices, to facilitate their housing decisions.”

With candidates’ permission, the function may also permit back-end hyperlinks with different authorities companies to retrieve particulars wanted for assessments.

It is a part of HDB’s efforts to make use of digital know-how to make the house shopping for course of extra handy, Lee mentioned.

He mentioned enhancements have been made lately, citing the launch of the HDB resale portal in 2018, the open reserving of residences in 2019 and the launch of the HDB Flat portal in January this yr.

APPLICATION FOR INTEGRATED HOUSING LOAN

One other function of the HDB Flat portal is an built-in house mortgage utility service, permitting house patrons to request in-principle approvals and letters of supply from collaborating monetary establishments (FIs).

There are at the moment six collaborating FIs: DBS Financial institution, Hong Leong Finance, Maybank Singapore, OCBC Financial institution, United Abroad Financial institution and Sing Investments & Finance, HDB mentioned.

This is able to streamline the present course of, which requires patrons to submit separate requests to totally different FIs.

DIGITAL PLATFORM TO GUIDE NEW BUYERS

There may also be a brand new platform within the HDB Flat Portal to information new house patrons.

Some options embody ‘providing related info at applicable milestones’ throughout the house shopping for course of, serving to house patrons work out their cost plans, and permitting them to ebook their most popular date slot to choose up. their keys, HDB mentioned.


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