Reduced LTV limit, increased EHG: Desmond Lee discusses new property cooling measures
National Development Minister Desmond Lee said on Aug 20 that the new cooling measures announced during the National Day Rally will help encourage prudent borrowing by buyers as well as stabilise the resale market. Read more: https://str.sg/Dqx2
This follows the ministry’s announcement that there will be a reduction from Aug 20 of the loan-to-value (LTV) limit, or the maximum amount one can borrow from the Housing Development Board (HDB) to fund a new or resale flat purchase, from 80 per cent to 75 per cent.
HDB will also provide more financial support for first-time flat buyers in the lower-to-middle income brackets, by increasing the Enhanced CPF Housing Grant (EHG) to up to $120,000 for families and $60,000 for singles.
Follow The Straits Times on YouTube: https://str.sg/ytsub
Turn on notifications 🔔 to stay updated.
--------------------
WEBSITE ➤ https://www.straitstimes.com
WHATSAPP ➤ https://str.sg/whatsapp
TIKTOK ➤ / straitstimes
INSTAGRAM ➤ / straits_times
FACEBOOK ➤ / thestraitstimes
TWITTER ➤ / straits_times
TELEGRAM ➤ https://t.me/TheStraitsTimes
PODCASTS ➤ https://str.sg/stpodcasts
#straitstimes #hdb #housing