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Asked by Anonymous 1 Jun 2018

Hi folks, just 3 questions and hope the knowledgeables here could help me out:
1) In computing household income ceiling, will income from occupier (not owner) be included?
2) Can an occupier (not owner) be the loan guarantor?
3) Does Will arrangement supersede the HDB co-owner rule? i.e. occupier being willed as 100% beneficiary will still get the property, despite wasn’t a co-owner.

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Previously Asked Questions

Robbie Chen Chee Howe · Answer 1 · 2018-06-01T15:47:47+08:00

Hi,

Let me assist in your queries:

1) Household income ceiling is different from housing loan eligibility. If you're looking to apply for a new brand new HDB, your Household income ceiling (the amount of income your entire household earns) needs to be below $12k, be it owners or occupiers. As for Housing loan, only the income for all owners will be taken into consideration. Occupiers and essential occupiers do not own the house, hence the bank will not be able to loan the amount based on their income.

2) Occupiers cannot be guarantor for Owner for property mortgages.

3) In terms of Will, if the Occupier is not eligible to hold onto a HDB flat (i.e Foreigner or SPR) upon the owner's demise, they will be required to sell off the HDB in the open market. The Occupier will be able to "take over" the HDB flat if he/she falls into one of the Schemes for him/her to own a HDB.

Should you need any further assistance in matters relating to property, please contact me at my mobile 9748 6305 . I will be happy to assess and share with you the possibilities for you and your partner in the current market.

Thank you.

Best regards,
Robbie Chen
9748 6305
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