SBF - May 2019

[ravenintiate]

Hi,

Whats the Room Type you are applying in Tampines? Myself for 5 Room.

My Q number is 47X/437, Praying hard

yup im going for tampines 5 room too... wish u luck bro

 

[Mysticwind]

Rmb to apply HLE! just received a letter from HDB on HLE application.

 

[Mysticwind]

Mcps they probably need go down as they need to sign the doc as well. U will need like the property tax, think ur birth cert. to show that your parents are staying there as well as to show you are their legal children

Thank you! I read from another thread that not compulsory for parent to go down so I thought no need. Anyway I wrote in to a HDB to clarify and for MCPS applicants, parents will need to go down on selection day itself, but if parents are unable to make it, HDB will reschedule another day for them to go down to hdb tpy hub.

Personally, I feel that I didn’t want to inconvenient my parents to go down, donno why HDB is so insistent that parents need be down in person - even if is on another day than selection day. Even couples themselves selecting the flat can appoint someone else on behalf to do so (letter of authorisation etc), but this parents thing cannot sign or submit document prior? Oh wells.

 

[Xenophobia07]

Thank you! I read from another thread that not compulsory for parent to go down so I thought no need. Anyway I wrote in to a HDB to clarify and for MCPS applicants, parents will need to go down on selection day itself, but if parents are unable to make it, HDB will reschedule another day for them to go down to hdb tpy hub.

Personally, I feel that I didn’t want to inconvenient my parents to go down, donno why HDB is so insistent that parents need be down in person - even if is on another day than selection day. Even couples themselves selecting the flat can appoint someone else on behalf to do so (letter of authorisation etc), but this parents thing cannot sign or submit document prior? Oh wells.

Because there are likely previous cases of parents allegedly claiming they did not know they can’t sell the flat before the 5 years, tried to sell their flat, probably claims kids didn’t tell them what the MCPS conditions are, etc. So to be down in person where the HDB officers informs them of the clause, and get them to sign in black and white the conditions etc, I think prevents this feign ignorance within the next 5 years.

That’s not to say that I don’t agree with you about it’s inconvenience. Cause I too find it terribly inconvenient to arrange with my parents as well about going down, since I’m also under the MCPS scheme.

 

[whatisgoingon]

Is this only for those confirmed under MCPS?

I applied under MCPS, but seeing as how my queue number exceed the available units of flat, does that mean that my MCPS is not successful and parents don't have to go down for the flat selection (should there be units left by my number)?

Thank you!

 

[Xenophobia07]

Is this only for those confirmed under MCPS?

I applied under MCPS, but seeing as how my queue number exceed the available units of flat, does that mean that my MCPS is not successful and parents don't have to go down for the flat selection (should there be units left by my number)?

Thank you!

If you applied using MCPS scheme but your balloted number exceeded the available units, means you were unsuccessful in that initial 30% allocation for MCPS scheme, and you subsequently got your number with just 1st timers status alone. Cause if you were successfully allocated that initial 30% under that scheme means your number would be guaranteed to be within that number of available units.

 

[whatisgoingon]

If you applied using MCPS scheme but your balloted number exceeded the available units, means you were unsuccessful in that initial 30% allocation for MCPS scheme, and you subsequently got your number with just 1st timers status alone. Cause if you were successfully allocated that initial 30% under that scheme means your number would be guaranteed to be within that number of available units.

Thanks for your reply! Means no need to bring parents down as well. Now I'm just hoping there are units left for my queue. I exceed by 5 number, with only 20+ units up for selection.

 

[maodinipie]

Just got my appt date for 26th aug for no.22 for bukit merah sbf 4 room.

They do give quite a comfortable advance notice of a month.

 

[Xenophobia07]

Just got my appt date for 26th aug for no.22 for bukit merah sbf 4 room.

They do give quite a comfortable advance notice of a month.

That’s quite a nice long notice. No worries then. I’m still awaiting the Geylang one to start handing out appointments.

 

[maodinipie]

That’s quite a nice long notice. No worries then. I’m still awaiting the Geylang one to start handing out appointments.

Some1 previously also mentioned that he got the appt about 1 month in advance so i guess there is ample amount of time

 

[whatisgoingon]

Does anyone know when the second appointment (singing of lease) for flats that are not ready now, will be?

I read on the Feb 2019 BTO thread that some of them have their second appointment in about 2 weeks after appoint one (selection of unit). If this is true, it means that you'll have to pay the 10% downpayment by the second appointment yes? What happens if you don't have enough CPF/cash for the downpayment, any defer plans available?

Thanks in advance!

 

[htp2016]

nice, thank you!
hopefully Clementi will be even later

 

[bakacyan]

How does HDB calculate the maximum amount of loan you will be eligible to?

 

[Xenophobia07]

How does HDB calculate the maximum amount of loan you will be eligible to?

This really varies a lot. Depending if you’re fixed base pay, vs commissions based, vs own business, etc. Then there’s also the the MSR (Mortgage Servicing Ratio) which cannot exceed 30% of your monthly income. Which means for example you earn 10k, your monthly repayment cannot exceed 3k. I’m not sure if this value drops if you have other repayments like for example a monthly car loan. Not to forget as well, whatever loan offered initially is also pending a reference check against your finances. So for example, if you’re always defaulting on credit card payments or paying late, or your always delay payment of your yearly income tax, etc. That is also taken into consideration and will further decrease your loan amount from HDB.

So I think what is the loan amount, you can go to HDB site directly. There’s those calculators. Or you can use a HLE draft from HDB site to get a tentative value, and you can reverse engineer the final number to see if you can make adjustments in your favour.

Side note. 10% of property value to be paid up front, with 90% in instalments. So if your loan from HDB only amounts to let’s say 70%, then you need to pay 30% upfront either in full CPF or CPF/Cash (I’m not sure about full cash. But if you can pay 30% full cash, likely won’t be worrying about the loan amount. Hahaha.)

 

[whatisgoingon]

Does anyone knows how long a HLE appeal will take?

Just got my HLE results and the loan amount is very low, I suspect it's because we're self employed without CPF contributions.

Anyone with the same experience before who has successfully appealed?

 

[blurkinz]

Does anyone knows how long a HLE appeal will take?

Just got my HLE results and the loan amount is very low, I suspect it's because we're self employed without CPF contributions.

Anyone with the same experience before who has successfully appealed?

Normally about 1 week, tried appeal too but fail due ro no additional source of new income...

 

[ray0923]

nice, thank you!
hopefully Clementi will be even later

maybe begining of sep

 

[whatisgoingon]

Normally about 1 week, tried appeal too but fail due ro no additional source of new income...

Are you self employed without CPF too?

 

[rajah0609]

SBF May 2019 Selection of Flats

Hi, Any Members successfully selected flats in AMK? cos I only see only 1 flat being selected?

 

[Xenophobia07]

Seems like total of 11 selections today over AMK and Bedok.