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If the HDB flat doesn't cover owner till age 95, the first step would be to pause and wonder why exactly the buyer would want to buy that property.

There is a reason the government implemented this policy, because it is generally not the optimal choice the buyer should be looking at.

Overextending the use of CPF would place the buyer in a worse off situation since they would essentially be putting in even more retirement savings into a home that will not be around by the time they are 95. This creates a serious risk of a situation where an elderly owner is both homeless and without sufficient retirement savings.

I'm a Harvard graduated real estate agent with a degree in economics, and I have a decade of experience working on Singapore public policy. I would love to schedule a free consultation to discuss your options if you need any support.

Feel free to reach out via whatsapp or email.

Kay Cloud
The Harvard Educated Agent
Propnex Realty Pte Ltd
cloud@propnex.com
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Whatsapp -> https://wa.me/6585674585 Read More

Hi, appreciate your sharing. It depends on the youngest buyer age and income. 95 - balance lease of the unit must be more than youngest buyer age. If not partial loan and CPF OA usage.
Looking forward to assist you at 9696 4398  or email me at stewartlim96964398@gmail.com

Cheers
Stewart-PropNex (Senior Associate Division Director) Read More

Hi

https://www.cpf.gov.sg/service/article/how-much-cpf-savings-can-i-use-for-my-property-purchase

This indicates that the withdrawal limit for cpf is a percentage of the lower of purchase price or valuation, pro-rated according to your age, since balance lease can't last you until 95 years old. You cannot use CPF further when this limit is reached, even with BRS set aside. To do that you probably got to appeal with cpf board for review when the circumstances emerge.

Hope the above clarifies. I am well-versed with HDB and private property transactions, having helped more than 100 homeowners transit smoothly with their housing plans. Please reach out to me at 97432395  for a more in-depth discussion :)

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I would be glad to assist you.
Feel free to contact me at wa.me/6597100155
Hope to hear from you soon.
Pei Mobile: (65) 9 7 1 0 0 1 5 5.
Email: peicheng.tan@propnex.com
Associate Group Director
Propnex Realty Pte Ltd Read More

1. Loan and CPF use depend on the youngest buyer’s age and total earnings.
2. The home’s remaining lease must be more than 95 years minus that buyer’s age.
3. If the lease falls short, only a reduced loan and limited CPF Ordinary Account funds can be used.

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I don't quite get your question. Read More

Hi,

1) This has nothing to do with meeting BRS or FRS situation.
2) The govt is discouraging citizen from buying a residential property that might not able to fulfill their retirement needs, thus restrict citizens from fully utilizing CPF for such purchase.
3) The main reason for such policy is to avoid social problem in the future.
4) It acts as a reminder not to commit to such purchase unless the citizens are prepared for the consequences; i.e. use more cash instead of CPF to service the mortgage.
5) You will have to cough out more cash to solve the lower CPF utilization issue instead of trying to go against the situation.

All The Best!!!

Hope the above answers 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
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