Appeals to Waive Two-time Criterion for HDB Home Loan Eligibility

Mr Abdul Samad asked the Minister for National Development with regard to HDB home loan eligibility (a) whether there are appeals to waive the maximum two-time of such loans; (b) if so, how many have been approved and rejected to date; and (c) under what conditions will the appeal be successful.

HDB provides up to two housing loans to eligible Singapore citizen households and this is generally sufficient to meet the life cycle needs of a flat buyer. Beyond this, households who require another housing loan may seek financing from financial institutions regulated by the Monetary Authority of Singapore.

Nevertheless, HDB does exercise flexibility to provide another HDB housing loan for those who have exhausted their financing options, and are in urgent need of housing, on a case-by-case basis.

Between September 2020 and August 2021, about 2,900 households approached HDB for another housing loan. Around one in five of these appeals were successful.