864 Households Applied For HDB Loan Deferments From April To August 2020: MND
The Housing and Development Board has supported almost 2,500 households on their HDB property loan pay outs starting Apr to Aug 2020, revealed the Ministry of National Development in Parliament on 14 October 2020.
Of these, 864 homes considered to delay their loan installments, whereas 277 reduced their home loan pay outs.
MND declared the report in response to MP Ng Ling Ling, that inquired on how many ask for postponement of Housing and Development Board mortgage pay out were collected by HDB from day one of the circuit breaker period including the percentage of the certified demands.
“Housing and Development Board presents private personal economic advise to people looking for support with their Housing and Development Board mortgage installments to find out their needs, as well as identify suited measures to take care of these people,” responded MND.
It marked that the assistance actions constitute letting citizens to defer or minimize property loan expenditures as well as increase their home loan period subject certain age limitations.
“As the monetary guidance is holistic, we do not have information on the amount of houses that put in for particularly to defer their mortgage repayments,” MND pointed out.
Anyway, Ministry of National Development guaranteed that they are closely checking the circumstance and will revise the sufficiency of their support efforts as the scenario evolves.