Both applicants are students

[tanjhj]

Hi,
I tot we need to hv a valid hle if loan fr hdb / letter of offer if loan fr bank during the signing of agreement for lease and during the collection of keys is reassessment of hle again? Wasn't this the steps when applying for bto flats?
Pls correct me if I'm wrong. Thanks!

yeah when u house is ready for key collection it will be 3-5 years later. however u do not need hle/bank loan ready doing signing of the lease. alot of bank loan ppl wont tell u this. also it is a misconception of common ppl. i was highlighted abt this from the hle staff when my loan approve is only 12k but he assure me it is not impt as i still got my bto lease signed las month.

as mentioned in my earlier thread. pls read carefully

 

[charel_ong]

If i am able to get a letter of offer from bank, can i still apply for HLE when they reassess both applicants' income?

Ya i am confused, because we did asked hdb staff twice regarding the HLE, but she said we are not eligible, but did not suggest other alternatives.. Hence i keep thinking we need to obtain a loan when we sign the lease..

 

[tanjhj]

Oh ya. Forgot that there is another option. If one can pay the full purchase price of the flat with the necessary proof n evidence, then it doesn't matter whether he is eligible for a loan or not.

Charel or the TS is working part time with her uncle stall earning incomes every month which she did not declare with CPF and HDB hence i reccomend her and other students applicants to do the same. declare the income thou it is just few hundreds bucks so it is legal and it entitle you to take HLE and AHG. backdate at least 1 year from the date of applying bto online. meaning if your bto application is Jan 2013, you need to back date to Dec 2011 to be safe.

Drop CPF a call or mail and asked for guidance how to do top up. I made mine tru the AXS.

 

[tanjhj]

If i am able to get a letter of offer from bank, can i still apply for HLE when they reassess both applicants' income?

Ya i am confused, because we did asked hdb staff twice regarding the HLE, but she said we are not eligible, but did not suggest other alternatives.. Hence i keep thinking we need to obtain a loan when we sign the lease..

No. hence i suggest you proceed with the one i suggest you first with confirmation from cpf u can backdate your cpf contribution to 1 year prior your bto application date. and also the the documents for HDB. see the previous post #83

Never take bank loan now. coz you can take bank loan in the future just before your key collection even u applied for hle but nt vice versa.

 

[charel_ong]

No. hence i suggest you proceed with the one i suggest you first with confirmation from cpf u can backdate your cpf contribution to 1 year prior your bto application date. and also the the documents for HDB. see the previous post #83

Never take bank loan now. coz you can take bank loan in the future just before your key collection even u applied for hle but nt vice versa.

I emailed them and said i am a student but working hawker part time for my relative.. Ask them for top up and one staff replied me the following:

"A person’s employment status depends on whether he/she is engaged under a "contract of service" or a "contract for service".

If a person is an employee under a "contract of service", then CPF is payable for him/her. Some of the factors which determine a "contract of service" are the employer's control over payment, hours worked, dismissal, substitution of workers and method of work.

In a "contract for service", there is no employer and employee relationship. A person in business on his own account under a "contract for service" is an independent contractor or a self-employed person. He/She is required to pay compulsory Medisave contribution."

:/

 

[lzjlee]

yeah when u house is ready for key collection it will be 3-5 years later. however u do not need hle/bank loan ready doing signing of the lease. alot of bank loan ppl wont tell u this. also it is a misconception of common ppl. i was highlighted abt this from the hle staff when my loan approve is only 12k but he assure me it is not impt as i still got my bto lease signed las month.

as mentioned in my earlier thread. pls read carefully

I think it is a must to have hle/bank loan ready during signing of lease leh.. Like u mentioned in ur case that u have a loan approved (amt doesn't matter at this stage). That is y u have no prob during the signing of lease.

Source is from hdb website itself:
HDB InfoWEB: Documents to prepare and bring : Buying A New Flat

 

[shootingstar88]

Why not you clarify all your doubts with hdb itself? That would be the best and most accurate answer. If they provide unsound advice, then you can bring this case up against them. If there are conflicting advice provided by hdb themselves, then when you seek another opinion from another hdb officer, firmly demand an explanation for all the confusion and different advice provided by the hdb officers.

 

[tanjhj]

I emailed them and said i am a student but working hawker part time for my relative.. Ask them for top up and one staff replied me the following:

"A person’s employment status depends on whether he/she is engaged under a "contract of service" or a "contract for service".

If a person is an employee under a "contract of service", then CPF is payable for him/her. Some of the factors which determine a "contract of service" are the employer's control over payment, hours worked, dismissal, substitution of workers and method of work.

In a "contract for service", there is no employer and employee relationship. A person in business on his own account under a "contract for service" is an independent contractor or a self-employed person. He/She is required to pay compulsory Medisave contribution."

:/

try declare as helper of a stall but didnt know you need to pay cpf and like to backdate your cpf and send them a email again. this time skip the word students. Next declare as self employed tutor, less cpf contribution but need to pay medisave, also asked for advise to backdate your medisave payment. see which option is better.

i send the cpf lots of email and got the "correct" answer before i do my backdate payment of cpf.

"contract for service" is self employed only need to pay medisave, you better asked them if can backdate. however i know hdb prefer "contract of service" for you will get a clear monthly contribution into the cpf.

also can drop iras a mail in regards to your income and how to get a letter from iras for the self emplyed income tax notice of assessment(thou no tax payable)

 

[Stephanieseow]

Regarding AHG

Hi all, hope you all can provide me some information, for the past 12months during work, I had one month never contribute cpf because I've to quit my previous job before find new job which is my current job. I took about one month to find a job, so my cpf got in between one month nv contribute, do you think I still will entitle grsnt? If anyone here has information thanks

 

[glowingsummer]

try declare as helper of a stall but didnt know you need to pay cpf and like to backdate your cpf and send them a email again. this time skip the word students. Next declare as self employed tutor, less cpf contribution but need to pay medisave, also asked for advise to backdate your medisave payment. see which option is better.

i send the cpf lots of email and got the "correct" answer before i do my backdate payment of cpf.

"contract for service" is self employed only need to pay medisave, you better asked them if can backdate. however i know hdb prefer "contract of service" for you will get a clear monthly contribution into the cpf.

also can drop iras a mail in regards to your income and how to get a letter from iras for the self emplyed income tax notice of assessment(thou no tax payable)

Hi,
can i ask:

1) So lets say both me and my gf have zero income now. I just go backdate declare I've been teaching tuition, earn 500 a month, and top up CPF for past 13 months(play safe) from the date of application of bto online. After which, I will be eligible for both AHG and HLE(though with v little amt). and everything will be resolved. Am i right? Or do i needa go iras too? What exactly do I need to do?

2) ur CPF top up is just top up OA acct, or all? Truth is I'm teaching tuition for past few years, I can easily come out with all the students and contacts and their particulars and tuition fees if required.

3) Selection of flat and signing of lease is few months apart, u've already gone thru both stages? I applied nov bto, and selection will be in jan 2013, signing probably may 2013, and I'm officially starting work june 2013. So these few months I need to keep up with my cpf?

 

[tanjhj]

Hi all, hope you all can provide me some information, for the past 12months during work, I had one month never contribute cpf because I've to quit my previous job before find new job which is my current job. I took about one month to find a job, so my cpf got in between one month nv contribute, do you think I still will entitle grsnt? If anyone here has information thanks

Strictly speaking no but u may have to ask HDB. Send email.

 

[tanjhj]

I think it is a must to have hle/bank loan ready during signing of lease leh.. Like u mentioned in ur case that u have a loan approved (amt doesn't matter at this stage). That is y u have no prob during the signing of lease.

Source is from hdb website itself:
HDB InfoWEB: Documents to prepare and bring : Buying A New Flat

This one I know lay that's y I advise them to declare her income which she never declare. Hle amt is not impt.

I advising ppl to be legal n declare all income as citizen n be rewarded with with their rights to ahg n hle

 

[BrOwnTeddy]

Wow that thread is long.... Any idea roughly when was it posted?

Yup, I heard of such case, but that is when one of the couple is working. My case is where both are studying with zero income, but we're v confident we can at least get a combined income of >4-5k in 3 yrs time when the flat is rdy (considering the majority of degree holders pay at the beginning, from NTU/NUS/SMU). Called up some HDB officers and apparently they seems to be unable to do anything too... What should I do now? Will any MP letter help?

Sorry to pour cold water again.

Banks and HDB don't look at 'how confident you are' with your 'Double Honours Degree, being placed in Dean's List with XXX Scholarship and potentially a fat internship with Big 4 drawing potentially 10K/mth per head.'

Banks and HDB are interested in that few pieces of papers which are:
- Official Payslip
- Your current occupation
- How long are you working
- IR8A
- CPF Statement
- Bank Statement

Don't have these 6 items, no talk.

Unless you strike Toto, sole winner, 11mil. Then I really nothing to say.

 

[BrOwnTeddy]

So you got a bank loan for your case? Is there any ways to appeal for HDB loan? or appeal for a grant? Let's say, I'm still 5 months away from signing the lease. I only need 3 months of income proof in order to apply for HDB loan right? So, if I go IRAS now and declare my income starting now to be an arbitrary amount, will it be actually possible?

IRAS don't work that way. Sorry.

Don't get charged for false declaration of income I think you should be happy liaoz.

 

[coljsge]

hi there, got a question to clarify, im currently studying and 1 year to go before graduating, and my bf is currently working full time, is it possible to re-adjust the HLE loan once i start working? because the loan they grant us is insufficient and we have to fork out 300k cash!

so how is it now? are you able to re-adjust the loan?

 

[coljsge]

Oh ya. Forgot that there is another option. If one can pay the full purchase price of the flat with the necessary proof n evidence, then it doesn't matter whether he is eligible for a loan or not.

this is IF the couple (both students) are capable of it which i highly doubt.

FULL AMOUNT is no joke! Even if they can borrow from both side parents, then they got to repay the parents as fast as possible else what about the parents' retirement?