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Copied and paste from HDB website with regards to TLS:

To qualify for the TLS, you must have:

- Booked a flat and received an invitation to collect the keys
- Applied to sell your existing flat
- Fully redeemed your housing loan of your existing flat, if the loan is provided by a financial institution (FI)

You must be:

Able to pay the full purchase price of the flat using the following:
- CPF Ordinary Account balance
- CPF refund and cash proceeds from the sale of your existing flat
- If the funds are not sufficient for your flat purchase, you must be able to top up the shortfall by the date given by HDB, before HDB may consider your request for the TLS.

Hope the above helps!

——

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Hi

You have to fully pay off the bank loan before you are eligible for TLS, that is one of the requirements. If you are on bank loan, you should try to time the sale completion to be approximately 3 to 4 weeks before your key collection so your CPF refunds have time to come back and be drawn down again to complete the purchase. Another way is to take on bridging loan from the bank if you are going for bank loan again for the next home, this may potentially allow you to collect keys earlier before your sale completion and have more time to reno the flat.

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 :)

May I have more info on your requirements so as to make better recommendations? Thanks and looking forward to chat more

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- HDB Choa Chu Kang BTO 4-RM Sellers, 5-RM Purchasers, Zima & Faizal --

Ivan was prompt in replying to my endless queries & concerns. He was very attentive to details and he knows my exact 'taste' during the process of house hunting. I would say that my requirement in getting a flat is quite high because i was looking for a flat located near my parent's as well as the MRT station. It impressed me that he could read my mind well which makes the whole transaction alot easier. I also love the fact that he is calm, not pushy & always ensuring me that there are still sufficient time to look out for other available houses. We are so thankful beyond words for his understanding and patience thoroughout the whole process. We managed to sell our BTO with extension & secure a 5 room flat without COV, located near my parent's and a 3 to 5 mins walk to the MRT station

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Hi, to help in your planning, please take note of the following conditions for the TLS:

- The TLS does not cover the downpayment of your flat purchase.
- You will be invited to collect keys to your booked flat after your resale application and temporary loan application have been approved.
- The interest rate of the temporary loan is the prevailing non-concessionary interest rate (pegged to the average non-promotional interest rate for HDB flats offered by the 3 local FIs+).

Kay Cloud
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Propnex Realty Pte Ltd
cloud@propnex.com
Tel: (+6.5.) 8.5.6.7.4.5.8.5
Whatsapp -> https://wa.me/6585674585 Read More

Hi, appreciate your sharing, able to write into HDB feedback to check with HDB officer.
Looking forward to assist you at 9696 4398  or email me at stewartlim96964398@gmail.com

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

Here’s a clear, concise breakdown of the Temporary Loan Scheme (TLS) requirements:

1. **Key Eligibility Conditions**
- You must have booked a new flat and received the key collection invitation.
- Your current flat must be listed for sale.
- Any bank/financial institution (FI) loan on your existing flat must be fully settled.

2. **Payment Requirements**
- The new flat must be fully paid using:
- Your CPF Ordinary Account savings.
- Sale proceeds (CPF refund + cash) from your existing flat.
- If funds fall short, you must cover the gap by HDB’s deadline to qualify for TLS.

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QUOTE OF THE DAY " In negotiations, the most important thing is not to win or lose, but to find a solution that is mutually beneficial." Read More

Hi, thanks for your question.

Having an existing flat financed with a bank loan does not disqualify you from applying for the Temporary Occupation License Scheme (TLS) for your new BTO, provided you meet HDB’s other eligibility criteria.

Regarding your renovation timeline concerns, HDB usually grants a 3-month extension for TLS holders upon request, but it’s important to apply early and provide valid reasons.

If you want, I can help you understand the process and timelines better or assist in planning your move. Feel free to reach out — I’m Aren from PropNex, contactable at 9657 6701  . Happy to help. Read More