Debated in Parliament on 7 Oct 2014.
Mr Png Eng Huat asked the Minister for National Development (a) how many HDB flat owners had taken more than two loans from the HDB; and (b) what is the qualifying criteria for such loans.
From January 2013 to June 2014, 25,000 households were granted mortgage loans from HDB. Among these households, HDB assisted 1,312 households with another HDB loan, even though they had already taken two HDB loans previously.
As these are exceptions to the rule, HDB evaluates such requests on a case-by-case basis. Typically, these are flat buyers who have a steady income, in urgent need of housing, but are
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unable to secure financing from the banks due to poor credit records.
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