{"id":110483,"date":"2019-09-04T09:44:36","date_gmt":"2019-09-04T02:44:36","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/lbs-available-for-flat-owners-with-outstanding-mortgage-loan-of-over-5000\/"},"modified":"2019-09-04T10:05:14","modified_gmt":"2019-09-04T03:05:14","slug":"lbs-available-for-flat-owners-with-outstanding-mortgage-loan-of-over-5000","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/lbs-available-for-flat-owners-with-outstanding-mortgage-loan-of-over-5000\/","title":{"rendered":"LBS available for flat owners with outstanding mortgage loan of over $5,000"},"content":{"rendered":"


\nFlat owners with outstanding mortgage loans of more than $5,000 can now take up the LBS \u201cas long as the proceeds from the lease sale are sufficient to fully discharge the loan.
\nThe rule that requires Housing and Development Board (HDB) flat owners to have an outstanding loan of not more than $5,000 to be able to avail of the Lease Buyback Scheme (LBS) have been relaxed in February 2013.
\nLBS allows older HDB flat owners to sell part of their flat\u2019s lease back to the Housing Board to boost their retirement income.
\nWhen LBS was first rolled out in March 2009, \u201cHDB flat owners had to have an outstanding mortgage loan of no more than $5,000 to be eligible,\u201d said the ministry in answering a Parliament question by Member of Parliament Gan Thiam Poh, who asked on the number of appeals it received from flat owners who wanted to apply for the scheme but have not yet fully paid the loan due to financial difficulty.
\nOn whether the ministry will change the rule for said applicants, it noted that this rule has already been relaxed since February 2013.
\nThus, flat owners with outstanding mortgage loans of more than $5,000 can now take up the LBS \u201cas long as the proceeds from the lease sale are sufficient to fully discharge the loan\u201d.
\nVictor Kang, Digital Content Specialist at PropertyGuru, edited this story. To contact him about this or other stories, email\u00a0victorkang@propertyguru.com.sg
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…LBS available for flat owners with outstanding mortgage loan of over ,000<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Flat owners with outstanding mortgage loans of more than $5,000 can now take up the...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-110483","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-sJZ","jetpack-related-posts":[{"id":111443,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/seniors-receive-average-lbs-proceeds-of-177000\/","url_meta":{"origin":110483,"position":0},"title":"Seniors receive average LBS proceeds of $177,000","date":"October 8, 2019","format":false,"excerpt":"\r The Ministry of National Development noted that most seniors \u2013 after taking up the Lease Buyback Scheme \u2013 have enough CPF RA savings \u201cto benefit from a lifelong income stream of about $1,000 per month on a household basis under CPF LIFE\u201d. With the Lease Buyback Scheme (LBS) enhanced\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":76088,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/2500-households-took-up-hdbs-lease-buyback-scheme\/","url_meta":{"origin":110483,"position":1},"title":"2,500 households took up HDB\u2019s Lease Buyback Scheme","date":"January 9, 2018","format":false,"excerpt":"\r About 2,500 families have successfully applied for the Housing and Development Board\u2019s Lease Buyback Scheme (LBS) since it was launched in March 2009, according to a written parliamentary reply from the Ministry of National Development on Monday (8 January). It stated this in response to a question from Gan\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":106879,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/over-20-households-residing-in-bigger-flats-sold-part-of-lease-to-hdb-in-q1-2019\/","url_meta":{"origin":110483,"position":2},"title":"Over 20 Households Residing In Bigger Flats Sold Part Of Lease To HDB In Q1 2019","date":"May 6, 2019","format":false,"excerpt":"\r From 1 January to 31 March, HDB received over 200 LBS applications from owners of such larger units after the scheme was extended to them at the start of this year. The Housing and Development Board (HDB) revealed that over 20 households living in five-room and bigger flats have\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":96393,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/lease-buyback-scheme-to-be-extended-to-all-hdb-flats\/","url_meta":{"origin":110483,"position":3},"title":"Lease buyback scheme to be extended to all HDB flats","date":"August 21, 2018","format":false,"excerpt":"\r Elderly owners of large Housing and Development Board (HDB) flats can look forward to monetising their flat by selling part of their remaining lease to the government. \u00a0This comes as the Lease Buyback Scheme (LBS) will now be extended to all HDB flats, including five-room and bigger units, to\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":97608,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/seniors-have-options-to-unlock-value-of-hdb-flats\/","url_meta":{"origin":110483,"position":4},"title":"Seniors have options to unlock value of HDB flats","date":"September 11, 2018","format":false,"excerpt":"\r Seniors may choose to rent our a spare bedroom or sell part of their lease back to HDB. HDB flats provide a nest egg to seniors for their retirement needs, and the authorities have introduced many schemes and programmes to monetise such properties by then, according to National Development\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":114728,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/hdb-to-scrap-re-offer-of-balance-flats-exercise\/","url_meta":{"origin":110483,"position":5},"title":"HDB to scrap Re-Offer of Balance Flats exercise","date":"March 5, 2020","format":false,"excerpt":"\r The change is part of the various measures unveiled by Wong to make housing more accessible as well as to better support Singaporeans\u2019 diverse housing needs. Homebuyers can look forward to faster access to public housing as the Housing and Development Board (HDB) will do away with the Re-Offer\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/110483"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=110483"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/110483\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=110483"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=110483"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=110483"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}