HLE enquiry

[Ashton]

Hello all! Need some advice here regarding HLE.

I'm trying to apply for HLE under singles scheme but was unable to submit as my income is over the $7K ceiling (around $1300 over ceiling), so I contacted HDB to appeal and have given them all the documents required, now just waiting for them to get back.

What are the chances of getting an exception approval for HLE for this case?

I have bad credit rating due to poor decisions made during my early working years (credit cards), but I have no outstanding debts now apart from my car loan. Will this impact HDB loan approval?

My bad credit is also the reason I haven't even tried getting a bank loan, as I suspect it will be very tricky.

Thanks in advance!

 

[benzene]

you can buy your own credit report from the credit bureau to take a look.
Me too during younger days my CC was always issue to me.
but last 5 years i maintain it very well with zero outstanding.
when i took a reno loan last year, the Maybank guy told me my credit report is very good straight away approve my reno loan.

Hello all! Need some advice here regarding HLE.

I'm trying to apply for HLE under singles scheme but was unable to submit as my income is over the $7K ceiling (around $1300 over ceiling), so I contacted HDB to appeal and have given them all the documents required, now just waiting for them to get back.

What are the chances of getting an exception approval for HLE for this case?

I have bad credit rating due to poor decisions made during my early working years (credit cards), but I have no outstanding debts now apart from my car loan. Will this impact HDB loan approval?

My bad credit is also the reason I haven't even tried getting a bank loan, as I suspect it will be very tricky.

Thanks in advance!

 

[simon_84]

Hi all, would like to ask if having a fixed monthly income is the main only criteria for HLE loan application? I know the answer is obvious, as in are there any exceptions? Eg: do they review your financial status, past employment history etc.

Reason is I have recently lost my fixed monthly income and HDB has to cancel my HLE application. As I will need to find a place to move.
I will need about 100K loan for financing.

Please share with me your thoughts.

looks like you only have bank loan now as the only option.

 

[simon_84]

Hello all! Need some advice here regarding HLE.

I'm trying to apply for HLE under singles scheme but was unable to submit as my income is over the $7K ceiling (around $1300 over ceiling), so I contacted HDB to appeal and have given them all the documents required, now just waiting for them to get back.

What are the chances of getting an exception approval for HLE for this case?

if your company has pay cut now, you might just qualified for HLE else you can only get bank loan just like my ex colleague in public sector.

 

[bohemian-indie]

Hello, noob question here. Hope someone can help me.

Understand to apply for HLE, applicant needs to submit:

• 3 months’ payslips preceding the month of application
• Latest 15 months’ CPF contribution history

Assuming I am applying in end June, I would have CPF contribution history from March 2019 to May 2020.

As for the 3 months' payslips “preceding the month of application”, can I confirm they are for March to May 2020 (since it says preceding) OR April to June 2020 (zun zun last 3 months)

Thank you.

 

[PopMusic]

Mar to May 2020

 

[bohemian-indie]

Mar to May 2020

Thank you PopMusic

 

[bohemian-indie]

Singles Grant for Resale

Putting up my Intent to buy and HLE soon for a 3-room resale but I will not be eligible for the Singles Grant due to the income ceiling of $7000.

Thing is, I am just $200 above the ceiling. Does anyone know if HDB will be open to evaluate this on a case-by-case?

 

[azeris10]

You can try appeal. Doubt you will get grant, they are strict on this. And yours is $200 leh not $20.

 

[bohemian-indie]

You can try appeal. Doubt you will get grant, they are strict on this. And yours is $200 leh not $20.

I very sad. Actually it was $7 above ceiling if based on my basic alone.

Today I called up the hotline and the officer explained gross salary = basic + allowances.

Is this correct?

 

[mousepad_88]

Will there be any issue if say i just apply for HLE just to see how much loan do i qualify for without having intention to buy a flat in the meantime?

 

[Polar Bear King]

I very sad. Actually it was $7 above ceiling if based on my basic alone.

Today I called up the hotline and the officer explained gross salary = basic + allowances.

Is this correct?

Volunteer to your boss for pay cut lor
Get HR to issue a letter stating your pay cut effective immediately then send in to appeal for the HDB thing

 

[bohemian-indie]

I submitted request to cut pay liao

 

[Ashton]

I very sad. Actually it was $7 above ceiling if based on my basic alone.

Today I called up the hotline and the officer explained gross salary = basic + allowances.

Is this correct?

I tried to nego with the HDB lady also, even went line by line on my payslip.

End up transport allowance also must factor in, then overshot the ceiling by $1k+ liau. I said transport allowance is for work purpose, not even enough to cover my car installment so not like I'm making money from that. End up also denied.

The things they don't factor in are AWS, variable bonus, claims, and flexi spending accounts.

Now I've submitted every supporting document and even wrote a long story to them liau, pending final decision.

Fingers crossed, cos I definitely cannot get bank loan otherwise I don't really mind the 5% cash.
If can't get bank loan and HDB rejected my appeal, then really is GG.

 

[Polar Bear King]

I submitted request to cut pay liao

best to cut off all the allowance while keeping base salary intact as $7k then when HLE calculate loan they tend to only use base salary as a gauge,happened to me before...........back then i had to write in to appeal to HDB to loan more to me based on my average gross salary over a year as shown by their loan calculator estimate

 

[mousepad_88]

Hi everyone i have a question regarding HLE. I am still considering between resale vs BTO but i will like to apply HLE letter to get a sense of how much loan i can get to purchase resale flat.

What happens if in the end i decide to get a BTO and my HLE that i applied for the resale flat is still valid, do i need to cancel my HLE and apply under BTO HLE? How fast does it take to cancel existing HLE and apply for a new one?

 

[bohemian-indie]

I tried to nego with the HDB lady also, even went line by line on my payslip.

End up transport allowance also must factor in, then overshot the ceiling by $1k+ liau. I said transport allowance is for work purpose, not even enough to cover my car installment so not like I'm making money from that. End up also denied.

The things they don't factor in are AWS, variable bonus, claims, and flexi spending accounts.

Now I've submitted every supporting document and even wrote a long story to them liau, pending final decision.

Fingers crossed, cos I definitely cannot get bank loan otherwise I don't really mind the 5% cash.
If can't get bank loan and HDB rejected my appeal, then really is GG.

Yea I asked around too and my property agent said basically HDB counts “everything” in including allowances to get the gross salary. Except those termed as bonuses that you mentioned.

All the best to you getting the HDB loan!!

 

[bohemian-indie]

best to cut off all the allowance while keeping base salary intact as $7k then when HLE calculate loan they tend to only use base salary as a gauge,happened to me before...........back then i had to write in to appeal to HDB to loan more to me based on my average gross salary over a year as shown by their loan calculator estimate

Thing is, my base salary is $7 above the ceiling liao. To be honest, I never paid attention to my payslip and was surprised to know I have those flexi allowances every month... less than $200 but enough to warrant an appeal.

Anyone knows if I should wait for appeal results first (I emailed in as an enquiry) then submit my HLE application? Or must I have an existing HLE application with the above ceiling amount to support my appeal?

 

[Polar Bear King]

Thing is, my base salary is $7 above the ceiling liao. To be honest, I never paid attention to my payslip and was surprised to know I have those flexi allowances every month... less than $200 but enough to warrant an appeal.

Anyone knows if I should wait for appeal results first (I emailed in as an enquiry) then submit my HLE application? Or must I have an existing HLE application with the above ceiling amount to support my appeal?

you mean key in $7000 as base salary to apply for HLE approval?

 

[WQtRiggEr]

Hi everyone i have a question regarding HLE. I am still considering between resale vs BTO but i will like to apply HLE letter to get a sense of how much loan i can get to purchase resale flat.

What happens if in the end i decide to get a BTO and my HLE that i applied for the resale flat is still valid, do i need to cancel my HLE and apply under BTO HLE? How fast does it take to cancel existing HLE and apply for a new one?

Technically speaking the HLE should be valid for both BTO and resale applications, based on the wording of the letter. However, take note that it is only valid for 6 months and you would really only require the HLE when either:

(i) Booking a BTO flat; or
(ii) Entering into an OTP for a resale flat.

It will take time for the process to go from -> BTO launch -> ballot -> getting a queue no if you're lucky -> appointment to book flat.

For resale, it will also take time to go for viewings and find a flat that you like and negotiate for the price before entering into an OTP.

A HLE (if supporting documents submitted are complete and pretty straightforward cases, i.e both employed with CPF) should not take long to approve, my experience is usually 3 days to 1 week.

Hence I would say if you have an intention to get a flat and use that HLE for the flat application, it would be better if you get the HLE when you are further along the process (gotten a decent queue no and have reasonable chances of booking a flat or viewing resale flats already).

If your case is straightforward (i.e both employed with CPF), HLE max loan is quite easy to calculate by yourself based on max instalment of 30% of your combined monthly income for 25 years at 2.6%pa.

Eg. for $10k combined income, you can calculate the max loan by using max instalment of $3,000 at 2.6%pa for 25 years, max loan would be about $661,274.33 - in my experiences HDB tends to round down to the hundred so should be $661,200.