25 Sep '14, 6am

Downpayment for new flats halved for some rightsizers. Find out more

THE Housing & Development Board (HDB) on Wednesday launched 4,630 new build-to-order (BTO) flats in September's exercise. These flats are spread across six projects in the non-mature towns of Bukit Batok, Hougang and Jurong West, and the mature town of Kallang Whampoa. Application for these new flats can be submitted online from Sept 24-30. Starting from this BTO exercise, existing flat owners who rightsize to a new two-room or three-room flat in a non-mature town can choose to pay half the downpayment for the new flat when they sign the lease agreement. This is to help flat owners who wish to rightsize to a new flat but have their funds tied up in the existing flat, HDB said. "For those who are not taking up a loan or who are taking up an HDB loan, they need to pay only a 5 per cent downpayment upfront, instead of the current 10 per cent. "For those who are taking up a lo...

Full article: http://www.cpf.gov.sg/imsavvy/infohub_article.asp?readid=...

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