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Old 20-08-2012, 11:08 PM   #2851
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hello everyone,

I just spoken to someone whom have chosen to drop out. I met him onsite before and he was actually quite keen to pick a flat for KW. His queue number is 10x.

But eventually he was forced to give up his queue number due to the following facts.

1) He currently owns a flat. Both husband and wife are working. They have 1 kid.

2) As it is not convenient to ask his salary, I guessed that their combined incomes are approximately 7-8K per month based on the age of their look. They are in their 40s. However, they have their commitments too e.g. they own a car.

3) As he currently owns a flat, his entire CPF are used to pay off his current flat loan. His CPF is left with $5000.

4) Which means in order to buy KW, he can only depend on the CPF of his wife.

5) According to him, he plans to get housing loan, however, due to his situation (still servicing his current flat loan), he can't borrow that much.

6) As a result, he needs to fork out at least $150,000 during key collection which he feels he is not confident to do so.

7) Hence he gave up his queue number to go for SEP BTO.

This is what I heard from him and he is quite sure a lot of people are like him. Facing with this problem.

Those who are like him, better start planning what you are going to do.

If you have doubts, feel free to ask here. But I dun have his contact so it is not possible to ask him anymore. We met 2 times only.
I guess the main problem is that he do not have enough CPF saving and do not have cash for the up front payment of 10% .

What i do not understand is why fork out $150 000 during key collection. Unless you loan from bank and not HDB!
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Old 20-08-2012, 11:21 PM   #2852
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4 room.

Total unit :888
Unit still available : 672
Selection Q number : 284
total number of selected unit 888 - 672 = 216
total number of drop out 284 - 216 = 68
% drop out is 68/284 x100% = 23.94%

And base on the Ethnic Quota
Chinese : 554
Malay :189
Others : 92

If all remaining unit from tomorrow is selected by chinese the last q number before the ethnic Quota for chinese is reach would be 284 + 554 = 838.

And should there be no more drop out the q number will end @ 888+ 68 = 956

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Old 21-08-2012, 12:03 AM   #2853
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Queue Number

Last Queue Number invited for selection of a 4-Room flat in Kallang / Whampoa under the May 2012 BTO exercise as at 21 Aug 2012 : 00295

11 Queue today
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Old 21-08-2012, 06:32 AM   #2854
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I guess the main problem is that he do not have enough CPF saving and do not have cash for the up front payment of 10% .

What i do not understand is why fork out $150 000 during key collection. Unless you loan from bank and not HDB!
according to him, he does not enough $$$ and CPF to pay for upfront of 10 + 3%.

he needs to fork out $150,000 in cash during key collection apart from another 10% is because he has not sell off his current flat yet. HDB does not allow contra.
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Old 21-08-2012, 08:42 AM   #2855
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according to him, he does not enough $$$ and CPF to pay for upfront of 10 + 3%.

he needs to fork out $150,000 in cash during key collection apart from another 10% is because he has not sell off his current flat yet. HDB does not allow contra.
Well one can consider getting a bridging loan. PM me if you need more details!
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Old 21-08-2012, 09:24 AM   #2856
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Well one can consider getting a bridging loan. PM me if you need more details!
ya... i think this is good for me too cos i will hit the same problem as him. what is the interest rate for bridging loan and how long is the repayment period?
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Old 21-08-2012, 09:30 AM   #2857
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Well one can consider getting a bridging loan. PM me if you need more details!
Hi , i have Pm you

ya... i think this is good for me too cos i will hit the same problem as him. what is the interest rate for bridging loan and how long is the repayment period?
We have the same problem too.... I am a second timer too.
Can still sort it out before my q date.
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Old 21-08-2012, 09:39 AM   #2858
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Hi , i have Pm you

We have the same problem too.... I am a second timer too.
Can still sort it out before my q date.
lol...dunno you have same problem as me.

seems like HDB nowadays dun allow people to do contra like before...
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Old 21-08-2012, 09:49 AM   #2859
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does anyone know when we apply for HLE, do we include our AWS and Variable Bonus as the allowance?
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Old 21-08-2012, 10:15 AM   #2860
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Below 30 pay 5% downpayment first
After 30 pay 10% downpayment.
Can use CPF to pay but will only need to top up cash if CPF not enough

So on average if the flat cost 550K.
your first payment of 10% + stamp duty will add up to around 67K.

For your next quesstion. They will take the younger age between you and husband.
For both couple that hit 30 yrs old, they need to pay 5% cash during the 2nd appt which is 4-6 mths later then the balance 15% from CPF. If one party hit 30 yrs old and the other party below, the full 20% can be deducted from CPF. In other words, u don't have to come out cash.
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Old 21-08-2012, 12:15 PM   #2861
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does anyone know when we apply for HLE, do we include our AWS and Variable Bonus as the allowance?
The HDB officer told me for allowance to be compute and for consideration in HLE, the allowance must be constantly monthly. That means your organsiation paid you your monthly salary plus a consistent allowance amt...
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Old 21-08-2012, 01:03 PM   #2862
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For both couple that hit 30 yrs old, they need to pay 5% cash during the 2nd appt which is 4-6 mths later then the balance 15% from CPF. If one party hit 30 yrs old and the other party below, the full 20% can be deducted from CPF. In other words, u don't have to come out cash.
Correct me if i am wrong.
For the above 30 part. That is ture only if you loan from bank.
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Old 21-08-2012, 01:16 PM   #2863
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according to him, he does not enough $$$ and CPF to pay for upfront of 10 + 3%.

he needs to fork out $150,000 in cash during key collection apart from another 10% is because he has not sell off his current flat yet. HDB does not allow contra.
actually there is a way just that he doesnt ask the right ppl...
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Old 21-08-2012, 01:17 PM   #2864
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Second that. Don't understand why is there a need to repeat the same stuff over and over again.

The previous racial drama has already left us with no more racial update. I wonder what's this drama gonna cost us ):
fully understand and have the same feeling.... do you realise it is always the extra odd ones that cause alot of problem? in life, family and work also the same. Revolution/Opposition can be good but usually they make life worst.
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Last edited by tanjhj; 21-08-2012 at 01:20 PM..
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Old 21-08-2012, 01:32 PM   #2865
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lol...dunno you have same problem as me.

seems like HDB nowadays dun allow people to do contra like before...
Below is taken from HDB website. I guess your friend is affected by the one highted in red.

Btw have you fully paid for your first loan?


Downpayment of purchase price
HDB flats
If you are taking a housing loan from HDB or if you are not taking any loan, you have to pay 10% of the purchase price of the flat as downpayment. You can use your CPF savings to make the downpayment. If your CPF savings are not enough, you will have to pay the balance in cash.

If you are taking a housing loan from banks, the downpayment and mode of payment are as follows:
[*]5 % of purchase price in Cash[*]balance 15 % pay with your CPF Savings or Cash[/LIST]
If you have one or more outstanding housing loans (whether from HDB or a financial institution regulated by MAS) at the time of applying for a housing loan from banks or financial institutions, the mode of payment for the downpayment is as follows:


20 % of purchase price
  • 10 % in cash
  • 10 % in CPF Saving or Cash
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