Changes to CPF withdrawal

[kiatme]

https://www.straitstimes.com/singap...utm_medium=share&utm_term=2019-05-09 17:05:47

Lai Lai, lets start the discussions going...

 

[1993newbie]

“Instead of centering on the remaining lease of a flat, the rules will now focus on whether the leases can cover buyers until the age of 95.”

Young buyers like myself have to TOP up more cash if we were to purchase older homes.

 

[Broadwalk]

“Instead of centering on the remaining lease of a flat, the rules will now focus on whether the leases can cover buyers until the age of 95.”

Young buyers like myself have to TOP up more cash if we were to purchase older homes.

I hope to buy landed.

 

[microtek]

Looks like buyers of older flats would probably be in their late 30s/40s and older.

 

[Hyruga]

Nothing to discuss.

It is just more and more troublesome to buy home that's all.

Now every single buyer also have to check their age, then check the lease and add up to check how much cpf and loan he can take.

 

[windwaver]

CPF members will now need to have a property with a remaining lease to cover them until at least 95 before they can withdraw their CPF savings above the basic retirement sum or BRS.

Currently, CPF members above 55 years old can withdraw that CPF savings above the BRS if they own a property with a remaining lease of at least 30 years.

 

[lordlad0]

I hope to buy landed.

those people that can afford to buy landed don't use CPF...

only paupers and middle-class people used CPF to fund their mortgage.

 

[kiatme]

There're some changes to 2nd property buyers too.. but the rule is annoying considering a 20 plus year couple will find it harder to buy older flats

 

[Broadwalk]

those people that can afford to buy landed don't use CPF...

only paupers and middle-class people used CPF to fund their mortgage.

I am pauper and I need CPF for that.

 

[microtek]

There're some changes to 2nd property buyers too.. but the rule is annoying considering a 20 plus year couple will find it harder to buy older flats

20+yo couples usually can't afford resale and would go for BTO.