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Hi Mdm,

If you are only looking to use your CPF to finance for your husband's private property, there is no need for you to transfer your shares in the HDB you co-own with your mother.

To be able to use your CPF for your husband's property, first you will have to be a co-owner as well. You can simply buy a portion of the property from him. And as long as you have set aside the half minimum sum requirement, you can use your CPF to finance for the loan.

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 
PropNex Realty Read More

Hi Mdm,

(1) Transfer of Co-owned HDB flat share to sibling:
(a) Your sibling other than eligibility under HDB regulation of able to takeover ownership, he/she also has to meet the MSR requirement to takeover the loan sum.
(b) You will need a private lawyer to do this for you since this is under bank loan. Approach bank's panel lawyer to draft share transfer since this is under bank loan.
Your lawyer will advise the steps accordingly.

(2) Finance private property:
(a) Can use the same lawyer if under current private property loan bank's panel.
(b) Insert your name into the private property, pls note, if you do this before releasing ownership from HDB, you shall incurred ABSD (7% for SC, 10% for SPR). And also need to set aside BRS in order to utilise the rest.
(c) You have to instruct the lawyer to write to CPF to utilise the fund, you have to specified a sum in the beginning. You may adjust accordingly later under CPF website using SingPass.
(d) Also note that you don't have to ask for large share transfer in order to finance more, more share means more BSD (3%-$5,400).
Consult detail with your lawyer.

Txt me if you do not have any lawyer in hand, I can recommend lawyer who is specificial in property.

Hope the above answer to your main concerns, but if there are more queries, please feel free to contact me at 90110636  , or email: ling.ck7@gmail.com if more information is needed.
I'll be glad to assist.

Best regards
Ling CK
 90110636 
ling.ck7@gmail.com

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Good afternoon,

You can consider this two options:

1) As long as you have fulfilled minimum occupation of your HDB, you can buy over 1% of your husband's ownership.

This 1% will be subject to additional buyer's stamp duty because it will be your second resident property in Singapore.

From there, you can utilise your cpf to pay the mortgage as one of the owners.

But before you can do so, you will have to set aside basic retirement sum of $83k in your CPF OA+ SA first before you can utilise any CPF OA funds.

This is simpler but have CPF usage restriction.

2) As you mentioned, withdraw ownership from HDB. You have to check with your HDB branch office whether can it be done either the resale way or other method.

By doing this, your sibling or mom must have the financial capability to take on the loan and repay you whatever CPF OA funds you have used.

Do take note the MOP might restart again due to this arrangement and might affect your sibling's housing plans in future as well.

Hope my explanation is helpful. Cheers!

"Your Freehold Ally, Leasehold Tactician"

YT TAN 陈永达 | ACCA Graduate, RES
Associate Group Director
R043025D
Propnex Realty Pte Ltd
Blk 480 Lorong 6 Toa Payoh, #11-95 HDB Hub East Wing, Singapore 310480

(M): +65 9111 5171 
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