HOW TO CHECK THE OWNERSHIP OF A PROPERTY HDB / PRIVATE FOR LANDLORD & TENANT

HOW TO CHECK THE OWNERSHIP OF A PROPERTY HDB / PRIVATE FOR LANDLORD & TENANT
HDB
HDB's Approval Needed To Rent Out the Whole Flat

An HDB owner can rent out his whole flat only after he has obtained a written approval from HDB. Hence, you may request the flat owner to show you a copy of the approval letter to rent out their flat, as obtained from HDB. In addition, to protect your interest, you are advised to include a condition in the subletting contract, specifying that the validity of the contract is subject to the flat owner obtaining HDB's approval for subletting.
Landlords : Kindly click on the below link, to know how to get your HDB Home approved for rental purpose.
http://dreamhomeforu.blogspot.sg/2010/07/how-to-get-your-home-approved-for-rent.html

Proof of Ownership of the Flat
You are advised to visit the flat you would be renting and to ensure that the person you are dealing with is the rightful owner of the flat. You can do so by requesting for documentary proof of flat ownership which includes the Agreement for Lease, Service & Conservancy charges booklet, Annual or Loan instalment payment booklet/Annual Loan statements, bearing the name of the flat owner.

HOW TO OBTAIN OWNERSHIP PROOF (HDB)

1)For HDB flats please login to www.hdb.gov.sg and go to "MY HDB Page" use the Owner's IC and Sing Pass Number to check the Flat details.
(The Owners Singpass is a confidential number and he cannot pass it to others, so this has to be done by the owner himself), he can take the print out of the same to show as proof or a screenshot and forward the same to his agent for the buyers / tenants perusal.

2)Any HDB Letter under the particular property to show as proof.

3)Town Council A/C Statement Book (Service and conservancy charges ("S & CC") statement before you commit to the purchase, all the name(s) of the legal owner(s) are stated in the there.)

Kindly consult your property agent, and he/she will guide you about the same. He/she can arrange to get the documents from the Owner.

HOW TO OBTAIN OWNERSHIP PROOF FOR HDB & PRIVATE PROPERTIES

The other way to verify the ownership is

1) You can go to the INLIS (Integrated Land Information Service) website and generate the information – Kindly click on the link below and follow through.
  

     www.sirent.sla.gov.sg/LINNS/LINNS-LOIS.aspx?strService

Property Ownership Information 

This provides basic information on registered ownership as at the date of search.

(NB: It does not include information on instruments pending registration which may affect
ownership.)

            To access this information you need to pay a fee of $5.25,

2) You can go the IRAS (Inland revenue Authority of Singapore) website and generate the information – Kindly click on the link below and follow through.

        http://www.iras.gov.sg/irasHome/page04.aspx?id=2076

            To access this information you need to pay a fee of $2.50

Both the websites are government websites and it is absolutely safe to make a payment using your Master/visa or Cashcard as per the payment modes available.
They allow you to see, save and print the information only once.
This is confidential information.

PLEASE NOTE : If you don’t save it or print it, you will have to make payment again to access the information. 

ADDITIONAL CPF HOUSING GRANTS

ADDITIONAL CPF HOUSING GRANTS

This grant is usually meant for the lower income groups with a steady household income. It provides these families with financial assistance in situations when they want to buy a subsidized HDB flat. An applicant who qualifies under its guidelines is given this grant in addition to the existing housing subsidies. Thus, it helps families with lower income to get a bigger housing subsidy for buying an HDB home.

To qualify for this grant, which is only given once to a family, an individual should be eligible to meet certain criteria:

Family Nucleus: The applicant’s family must comprise his/ her spouse or fiancé/ fiancée or parents and siblings or children under his/ her legal custody (in case the applicant is widowed or divorced).

Special Condition: The applicant must submit a copy of his/ her marriage certificate to the HDB on or before taking possession of the flat.

Income Ceiling: The average gross household income of the applicants who have booked their flats on or after 2007 (24 August) should not be more than SGD 4,000 per month.

Employment Status: The applicant or the co-applicants should be in continuous employment for two years before applying for a loan to buy an HDB.

Additional CPF Housing Grants

Apart from these, the amount of AHG (Additional CPF Housing Grants) that applicants are eligible for are based on their average monthly household income for the past two years. The AHG is given only to the citizens of Singapore and not to their spouses who may be a Permanent Resident of Singapore. In case of sole applicants, a full grant is given while in case of joint applications, half of the grant is provided to each applicant. When joint applications do not involve a husband and a wife (e.g. parents, married siblings or children), the grant is given to any one eligible applicant per household.

AHG can be used only to reduce the mortgage loan amount or as a capital payment or to make initial payments for purchasing a flat.

Purchasing HDB flats in Singapore is a long term financial commitment involving careful financial planning. Therefore, it is recommended that a buyer should keep all options open before purchasing a flat.

HOUSING LOAN FROM THE BANKS

HOUSING LOAN FROM THE BANKS

Those who are not eligible for an HDB housing loan, can take loans from licensed banks that provide loans to potential buyers. Banks generally provide loans as much as 90% of the purchase price or the market valuation of the proposed flat. Individuals may opt for a bank loan if:

They have already enjoyed two interest rate mortgage loans either for buying flats directly from HDB or from the open market.

They have already enjoyed one interest rate mortgage loan and a housing subsidy and are not planning to buy a flat that is bigger than their current one.

They have already enjoyed one interest rate mortgage loan and a housing subsidy and the property last disposed off is a private residential property.

They own two or more owner operated market/ hawker stalls inside or outside Singapore.

They own one market/ hawker stall or any other industrial/ commercial property but not operating a business themselves.

The loan applicants can consult reputed banks on the amount of loan that they can get depending upon their income. They can take the help of the ‘Cash Flow Planner’ to calculate their monthly expenses and cash for paying loan installments. Apart from this, the other factors that should be considered for obtaining a loan from a bank are the CPF withdrawal limit, Cash down payment and Priority of Payment.

FINANCIAL OPTIONS FOR BUYING AN HDB

FINANCIAL OPTIONS FOR BUYING AN HDB

Buying an HDB flat in Singapore involves a lot of planning and financial considerations. Most of the buyers who do not have enough funds to buy a property can consider other options such as loans from the Housing and Development Board or the banks. Grants are also available for the first time buyers who want to purchase flats with a certain market value.

How to Get Housing Loans from HDB?

Applicants for HDB flats can apply for HDB housing loans in accordance with the mortgage loan policy guidelines. Applicants may apply for up to two concessionary housing loans if they meet the eligibility criteria. An applicant who has received a housing loan previously can apply for the next concessionary rate housing loan for moving to a bigger HDB flat. However, those who buy a private property after selling an HDB flat will not be eligible for a second HDB housing loan. Buyer's age, the prevailing loan ceiling, income level and available balance in the CPF account are factors that determine whether a loan will be sanctioned to an applicant.

Applicants must meet certain eligibility criteria in order to get housing loans from the Housing and Development Board:

The applicant should not have taken two or more concessionary interest rate loans.

The applicant has availed one HDB interest rate loan and one housing subsidy.

The applicant has taken one housing subsidy, one HDB concessionary interest rate loan and a residential property which was disposed off last is not a private property.

The applicant must not own any private residential property in Singapore or overseas that includes executive condos or HUDC flats.

The applicant should not have disposed any private residential property within 30 months before the date on which he/ she has applied for HDB loan eligibility (HLE).

The applicant should own an industrial/ commercial property or a hawker/ market stall and be operating a business himself/ herself.

Those who are eligible for a housing loan from HDB can consult the on line sales financial plan to calculate the loan amount and monthly installments. Couples applying for a loan for the first time can opt for the Staggered Down Payment Scheme (SDS), which allows down payment for the loan in two stages. To qualify for the SDS scheme, an applicant and his/ her spouse must be at least 30 years old at the time of application. The down payment for the loan which got reduced to 10% from 20% in the year 2005 (19 July) can be paid in two stages. Applicants who have applied for a flat on or after this date shall have to pay 5% at the time of signing of agreement for lease. The rest of the down payment (i.e. 5%) can be paid at the time of taking possession of the new flat after two to three years.

BUYING A HDB APARTMENT

BUYING A HDB APARTMENT

Introducing the HDB Flat

Singapore’s public housing authority, better known as the Housing & Development Board (HDB) is a statutory board under the nation’s Ministry of National Development. This body exists to serve their citizens by developing public housing townships that comprises many quality yet affordable homes in the form of HDB flats.

HDB towns are well planned with the necessary commercial, recreational and social amenities that are constantly upgraded to stay relevant and meet the needs of one of the fastest growing nations. There are a total of 6 types of HDB flats made available:

1. Studio apartment (SA)

A cozy 35/45 sq. meters of floor area designed to meet the needs of the elderly folks/senior citizens. These low-maintenance units are built with elderly-friendly fittings such as built-in wardrobe, built-in kitchen cabinet, window grills, support hand bars, pull cords linked to an alert system and floor/wall tiles.

2. 2-room unit

This design is targeted to the lower income group with approximately 45 sq. meters of floor area. It comes with a living area + 1 bedroom with attached bathroom + kitchen + storeroom cum apartment shelter. Owners may opt for the living area to be partitioned to create an additional bedroom to cater for an additional family member.

3. 3-room unit

Targeted to the lower/middle income group with approximately 60 sq. meters of floor area, this design comes with a living area + a master bedroom with attached bathroom + 1 bedroom + a common bathroom + kitchen + service yard + storeroom cum apartment shelter.

4. 4-room unit

With an estimated 90 sq. meters of floor area, this design is perfectly suited for a medium-sized family. It comes with a living/dining area + a master bedroom with attached bathroom + 2 bedrooms + a common bathroom + kitchen + storeroom cum apartment shelter. This unit type offers a variety of designs to select from that cater to the individual taste of home owners.

5. 5-room unit

Designed with a medium-size/small extended family in mind, this unit type has ample floor area of approximately 110 sq. meters. It offers a living area + a dining area + a master bedroom with attached bathroom + 2 bedrooms + a common bathroom + kitchen + storeroom cum apartment shelter.

6. Executive unit

This unit type offers a spacious 130 sq. meters of floor area with many unique designs to choose from. These beautifully designed units are the largest flat units made available by HDB aimed to comfortably fit a larger family. It comes with a living area + a dining area + a master bedroom with attached bathroom + 2 bedrooms + a common bathroom + kitchen + storeroom cum apartment shelter + a balcony (selected units).

The HDB flats are affordable homes that are very well maintained. They are located all over Singapore and are supported with excellent transportation systems made available to cater to the needs of all members in a family.

Homebuyers may opt to have a Standard or Premium unit. Standard units come with minimal finishing/fittings, allowing home owners to have a free hand in designing their home. On the other hand, those who prefer to have less hassle may choose the ready-to-move-in Premium units which are fitted with porcelain ceramic/timber stripped floorings and quality sanitary ware.

Buying a HDB flat

When buying a HDB flat, there are certain criteria that need to be fulfilled in order for you to acquire a unit. The size of your family and whether you are able to fulfill the conditions set out by HDB’s regulations play an important part in having your application approved.

Balloting Exercise (BE)

A Balloting Exercise (BE) refers to an exercise that offers interested buyers to buy a HDB flat within the existing townships. The units offered for the BE are usually surplus standard units that have met the re-housing needs of Selective En-bloc Redevelopment Scheme (SERS).

Build-To-Order (BTO)

While the BE offers fewer available units for interested buyers to tender for, BTO offers a more flexible choice of when and where these buyers would like to own a home. In a nutshell, this process begins with eligible potential owners submitting applications for their preferred location and if there is substantial demand for units in a particular location, the applicants will be shortlisted and invited to tender for a unit, all before construction begins.

Eligibility

Category	2 / 3 / 4 / 5-room & Executive	Studio Apartment (SA)
Family Nucleus (FN)	Public A. Buyer + spouse + children (if any) B. Buyer + parents + siblings (if any) C. Buyer + children under legal custody (widowed/divorced) Fiance/ Fiancée Buyer + fiancé/fiancée Orphan Buyer + unmarried sibling(s)	Buyer + spouse UNLESS unmarried/divorced/widowed
Citizenship	Buyer MUST be SC + One(1) of the members of FN of Buyer MUST be SC / SPR	Buyer MUST be SC
Age of Buyer	>21 years old (on application)	>55 years old (on application)
Gross Monthly Household Income for Buyer(s) (at time of application)	$2,000 (2-room) OR $3,000 (3-room) OR $8,000 (3-room Premium, 4-room, 5-room or Executive) OR $12,000 (combined purchase with extended family 3-room Premium, 4-room, 5-room or Executive)	Must not exceed $8,000
Ownership	Buyer (+spouse) and occupiers (+spouse) listed must NOT own/has disposed of other apartment/house/building/land/estate 30 months before/between application & taking possession date of new apartment	Own HDB Flat To dispose of unit within 6 months of taking possession of new SA Own Private Property To dispose of private property before taking possession of new SA

Key:

SC – Singapore Citizen

SPR – Singapore Permanent Resident

SA – Studio Apartment

FN – Family Nucleus

Other eligibility conditions to look into before you can own a HDB flat are:

1. Time Bar, applicable for all HDB types
2. Household status, applicable only for 2-room, 3-room, 4-room, 5-room and executive
3. Medisave Top-Up, applicable only for Studio Apartments
4. Offset of Resale Levy, applicable only for Studio Apartments
5. Payment of Premium, applicable only for Studio Apartments
6. Use of CPF, applicable only for Studio Apartments
   

ELIGIBILITY FOR BUYING AN HDB

ELIGIBILITY FOR BUYING AN HDB

Singaporeans maintain a high standard of living and prefer quality homes in prime locations. The Singapore Housing and Development Board (HDB), a statutory board under the Ministry of National Development, has been successful in meeting the residential requirements of its citizens. The board is dedicated to develop quality housing townships for the people of Singapore. The different types of HDB flats include studio apartments, 2-room units, 3-room units, 4-room units, 5-room units and executive units. In order to buy an HDB flat, a person must fulfill certain criteria that are mentioned below:

Income Eligibility

It is one of the most important eligibility criteria for buying an HDB in Singapore. The income ceiling for various types of HDB flats are listed below:

2-room flats - Gross monthly household income of the buyer should not exceed 2,000 Singaporean dollars.

3-room flats - Families whose gross monthly household income does not exceed 3,000 Singaporean dollars are eligible.

3-room premium, 4-room or 5-room executive flats -

1. Gross monthly household income of the buyer should not exceed 8,000 Singaporean dollars.

2. Gross monthly household income of the buyer should not exceed 12,000 Singaporean dollars if the applicant plans to buy the property along with the extended family

Studio apartment - The gross monthly household income of the buyer should not exceed 8,000 Singaporean dollars.

Citizenship

The buyer of an HDB should be a citizen of Singapore. One of the members of the family nucleus (FN) should also be a citizen or a permanent resident of Singapore. The same rules are applicable on the siblings, children, parents or spouses of Singaporean citizens who wish to buy an HDB.

Age

Those who are applying for an HDB in Singapore should be at least 21 years of age or more at the time of applying. A buyer opting for a studio apartment should be at least fifty years or more at the time of applying.

Family Nucleus

Singaporeans who apply for HDB flats should have a proper family nucleus (FN) that can be categorized under three schemes listed below:

Public

Under this scheme, the applicant along with his/ her spouse, parents, children (if any) and siblings (if any) are included.

Fiance/ Fiancee: This scheme covers the applicant along with his/ her fiance/ fiancée.

Orphan: Under this scheme, the applicant and his/ her unmarried siblings are included.

In case of studio apartments, the applicant should include the spouse in the application. Those who are widowed, unmarried or divorced, can solely apply for a studio apartment.

Balloting Exercise (BE)

It is related to the exercise that helps interested buyers to purchase an HDB flat within the premises of the existing township. The units that are generally offered for BE are standard surplus units that must meet the re-housing needs of Selective En-bloc Redevelopment Scheme (SERS). HDB has been instrumental in providing quality homes at affordable rates to the citizens of Singapore. Therefore, for acquiring homes of their preferred choice and location, Singaporeans should be well acquainted with the eligibility criteria set by the Housing and Development Board.

Built to Order (BTO)

In comparison to fewer available units that are offered by BE (Balloting Exercise), the Built to Order (BTO) provides a more flexible choice to interested buyers. Potential buyers can get suitable information from BTO related to the time and location for buying a flat. In other words, it is a process which begins with the submission of applications by buyers for their preferred locations. In case of demand for units at a particular location, applicants are shortlisted and a tender is invited for that unit, which has to be submitted before the actual construction begins.