HWZ Forums

Login Register FAQ Mark Forums Read

November 2017 SBF

Like Tree362Likes
Reply
 
LinkBack Thread Tools
Old 15-07-2018, 04:38 PM   #2551
Member
 
Join Date: Jul 2014
Posts: 489
Appreciate your reply and sharing. Iím hesitated whether to take grant. Some said is free money.
Actually if u intend to stay this unit for Long de.. take grant better
Amex^1234 is offline   Reply With Quote
Old 15-07-2018, 05:16 PM   #2552
Member
 
Join Date: May 2018
Posts: 233
just to update to you all.. i've gotten my appointment date for keys collection next week 24july. Very sure my CRM super efficient.(given that i did not call her, only send her 3 emails which i didnt get reply also) From selection till collection only 1mth+1week.

Waah congrats!! One month plus one week is really fast!
Monday21 is offline   Reply With Quote
Old 15-07-2018, 06:46 PM   #2553
Member
 
Join Date: Jul 2014
Posts: 489
Waah congrats!! One month plus one week is really fast!
Ya lo.. suddenly like v rush.. then my ID now oversea..lol.. just went to place deposit for my air con..
Erinlmh and Monday21 like this.
Amex^1234 is offline   Reply With Quote
Old 16-07-2018, 08:58 AM   #2554
Member
 
Join Date: Oct 2014
Posts: 423
How is your experience with bank loan? Considering it but not too sure which one is the best option.
Mine is with HSBC. We borrowed 285K for current house. They will deduct from CPF OA. At first only deduct $900 every month, then slowly increase to now $1050 every month. I didn't monitor my account closely. When they don't have enough to deduct from my CPF to cover the interest, they will deduct from my saving account (HSBC) then slowly my saving account become 0. I was so shocked. Cos mine is a 3 years lock period. After 3 years, it will be certain % plus market interest rate. I have never taken HDB loan before. If not wrong is 2.6% right? I fine taking loan with HDB is more stable.
Erinlmh is offline   Reply With Quote
Old 16-07-2018, 08:59 AM   #2555
Member
 
Join Date: Oct 2014
Posts: 423
Hi , can I check tiles @$3 isnít include labour charges ?
from what I heard from ID, it's around $10-$12 per sqf depends on which kind design. This price is including labour charges.
Erinlmh is offline   Reply With Quote
Old 16-07-2018, 09:05 AM   #2556
Member
 
Join Date: Oct 2014
Posts: 423
What is the impact or consequences if we take grant from HDB when we want to sell our existing HDB and buy new HDB or EC ?

Do we need to pay back with interest to HDB ? Any restriction for buying a new house in future because we take the grant ?
This is my 1st time taking grant. In fact 1st timer apply HDB flat. Heard when you apply new flat from HDB the 2nd time, you will have to "payback" whereas HDB will impose a levy on you. Rates are as follows

First Subsidised Housing Type

Resale Levy Amount Households Single Grant recipients

2-room flat $15,000 $7,500

3-room flat $30,000 $15,000

4-room flat $40,000 $20,000

5-room flat $45,000 $22,500

Executive flat $50,000 $25,000

Executive Condominium $55,000 Not applicable

Above is for flat sold after 3 March 2006
Erinlmh is offline   Reply With Quote
Old 16-07-2018, 09:07 AM   #2557
Member
 
Join Date: Oct 2014
Posts: 423
just to update to you all.. i've gotten my appointment date for keys collection next week 24july. Very sure my CRM super efficient.(given that i did not call her, only send her 3 emails which i didnt get reply also) From selection till collection only 1mth+1week.
Wow..... your application like taking rocket like dat. Congrats. Mine this morning still show the same. Think my CRM not happy because I appeal my case again. Never mind... I will wait and wait.... since my unit not ready yet
Erinlmh is offline   Reply With Quote
Old 16-07-2018, 09:09 AM   #2558
Senior Member
 
Join Date: Jan 2018
Posts: 610
just to update to you all.. i've gotten my appointment date for keys collection next week 24july. Very sure my CRM super efficient.(given that i did not call her, only send her 3 emails which i didnt get reply also) From selection till collection only 1mth+1week.
Congrats, happy news for you to start the week!
zidmosby is offline   Reply With Quote
Old 16-07-2018, 09:09 AM   #2559
Member
 
Join Date: Oct 2014
Posts: 423
ERIN.. your vinyl quote not wrong.. mine was quote 600sq ft because i got do a very big storage platform bed for master room.. my ID say no point he lay vinyl below my platform bed.. giv who see? next time if i remove the platform the vinyl also will hurt dao le, so for what i waste extra money.
He gave me a very detailed calculation after I sent him the floor plan. Total come up to 730 sft. I waiting to see MP tonight then decide later to use vinyl or tiles.
Erinlmh is offline   Reply With Quote
Old 16-07-2018, 09:11 AM   #2560
Member
 
Join Date: Oct 2014
Posts: 423
Appreciate your reply and sharing. Iím hesitated whether to take grant. Some said is free money.
Just take cos you can never predict whether will be apply for another new HDB flat or not. Just like now, open market resale flat, some are cheaper than HDB new flat. If not because of the grant, I won't apply for new flat too. Need to wait and wait and wait
Erinlmh is offline   Reply With Quote
Old 16-07-2018, 09:12 AM   #2561
Senior Member
 
Join Date: Jan 2018
Posts: 610
Appreciate your reply and sharing. Iím hesitated whether to take grant. Some said is free money.
It is definitely not free money. Gahmen will never be so kind They give you say 50k, you pay back 75k with interest. It does not go to hdb but it goes back to your cpf. But not sure what happens if you sell house and don't have enough cash to pay back. The other alternative is technically free money to you if you do not sell house at all I guess?
zidmosby is offline   Reply With Quote
Old 16-07-2018, 09:14 AM   #2562
Senior Member
 
Join Date: Jan 2018
Posts: 610
Mine is with HSBC. We borrowed 285K for current house. They will deduct from CPF OA. At first only deduct $900 every month, then slowly increase to now $1050 every month. I didn't monitor my account closely. When they don't have enough to deduct from my CPF to cover the interest, they will deduct from my saving account (HSBC) then slowly my saving account become 0. I was so shocked. Cos mine is a 3 years lock period. After 3 years, it will be certain % plus market interest rate. I have never taken HDB loan before. If not wrong is 2.6% right? I fine taking loan with HDB is more stable.
I am ok with CPF deduction either HDB or bank. Just not sure has better savings in the long run because have heard HDB staff themselves tell me that bank loan has been relatively stable at 1.8% interest compared to theirs at 2.6%. But of course you can never predict the future market.
zidmosby is offline   Reply With Quote
Old 16-07-2018, 09:16 AM   #2563
Member
 
Join Date: May 2018
Posts: 233
I also got my grant letter already yippeesss! This morning checked at 0800 hours, status still the same. Then i remembered HDB start work at 0900 hours. Then I just logged in again few minutes ago, not expecting any result yet. My eyes diameter suddenly grow two size bigger when i saw the link for soft copy grant letter

Just nice today my daughter's birthday.... Cant wait to share with her later!
Monday21 is offline   Reply With Quote
Old 16-07-2018, 09:18 AM   #2564
Member
 
Join Date: May 2018
Posts: 233
It is definitely not free money. Gahmen will never be so kind They give you say 50k, you pay back 75k with interest. It does not go to hdb but it goes back to your cpf. But not sure what happens if you sell house and don't have enough cash to pay back. The other alternative is technically free money to you if you do not sell house at all I guess?
But does this still applies if lets say i finished paying my mortgage then decided to upgrade?
Monday21 is offline   Reply With Quote
Old 16-07-2018, 09:25 AM   #2565
Member
 
Join Date: Oct 2014
Posts: 423
I am ok with CPF deduction either HDB or bank. Just not sure has better savings in the long run because have heard HDB staff themselves tell me that bank loan has been relatively stable at 1.8% interest compared to theirs at 2.6%. But of course you can never predict the future market.
Yes...bank rates with HSCB before was definitely lower than now. I think I was paying at 1+ % during the lock in period. The last I've checked is 2.68% for the month of July 2018 with HSBC. One thing I don't like is they will force deduct the house insurance from my saving account which is $100+ per year. If not wrong, house insurance very cheap only. I called up the bank and clarify with them, they said they are puzzled too. How can they allow such transaction to go through without my permission? Now I leave the saving account 0 see what they can do to me. BTW, they will deduct $1050 from my CPF OA but will "return" back the leftover amount around $20+ back to my CPF OA at the end of each month. I just have to endure another 2 years with them....

This is also one of the reason why we want a downgrade from current 5 room flat to a 4 room(we have 6 people staying in the house) cos we do not want to take loan ever again. Imagine every month deduct $1k plus from us, but actual loan only $500 deducting from the principal amount. Which means my interest per month is about $500+. Work and work like hell end up no money. For the past 6 years, I have already paid $36000 for interest to the bank.
Erinlmh is offline   Reply With Quote
Reply
Important Forum Advisory Note
This forum is moderated by volunteer moderators who will react only to members' feedback on posts. Moderators are not employees or representatives of HWZ. Forum members and moderators are responsible for their own posts.

Please refer to our Terms of Service for more information.


Thread Tools

Posting Rules

Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are On