Only 2 per cent of HDB loan applications rejected

[hokkien]

The Straits Times
Saturday, Nov 17, 2012
SINGAPORE - Only 2 per cent of HDB loan applications were rejected from January 2010 to September this year, said National Development Minister Khaw Boon Wan in Parliament last Wednesday.

That works out to 3,500 applications out of a total of 178,000.

The applicants were turned down as they had previously taken two or more loans from HDB, he said in a reply to Mr Lim Biow Chuan (Mountbatten SMC).

Mr Lim and Mr Liang Eng Hwa (Holland-Bukit Timah GRC) had asked Mr Khaw if HDB could be more lenient in letting some people take a third loan, especially if they needed to buy new homes because of reasons like divorce.

Without an HDB loan, they are "stuck with a rental flat", said Mr Lim.

Mr Khaw said a 2 per cent rejection rate is low.

Also, HDB exercises discretion on a case-by-case basis, he added.

The success rate of appeals for a loan is 36 per cent - which is "pretty high" and "quite good", he said.

Mr Khaw stressed that the Government's social objective of helping citizens own their homes must be "underpinned by prudence".

What the MPs want, for "100 per cent, everyone who puts up their hand gets a loan", is unrealistic, he said.

Pushing beyond the "prudence principle", he said, may lead to problems like the sub-prime mortgage crisis in the United States, which ultimately wreaked havoc on its economy

 

[Boliao]

The Straits Times
Saturday, Nov 17, 2012
SINGAPORE - Only 2 per cent of HDB loan applications were rejected from January 2010 to September this year, said National Development Minister Khaw Boon Wan in Parliament last Wednesday.

That works out to ...

to be 100% of those who truly needs a loan

 

[blackmondy]

Does HDB dare to reveal how many percent of loans were approved to foreign trash ?

 

[I_Hate_Pappies]

Approve $1 is also considered loan approved. Percentage shown is very nice. LOL!

 

[ray_of_hope]

These figures will dissuade those who are thinking of putting together YouTube videos about their rejected loan applications to the HDB.

 

[Narong Wongwan]

These figures will dissuade those who are thinking of putting together YouTube videos about their rejected loan applications to the HDB.

Only a cock like you will believe everything strait times report......
ALL rejected cases are only due to having taken 2 or more loans previously? This being the ONLY reason?

 

[chonburifc]

So the 2% will be left behind right?

 

[ray_of_hope]

Only a cock like you will believe everything strait times report......
ALL rejected cases are only due to having taken 2 or more loans previously? This being the ONLY reason?

What I believe or not is not the point. The point is what the majority believe. Those who put together YouTube videos in an attempt to publicise their individual cases will only subject themselves to ridicule and scorn.

 

[ray_of_hope]

So the 2% will be left behind right?

Coincidentally, 2% (up to 3%) is also the ballpark figure of spoilt votes in most Singapore general elections. They are never computed as part of the final vote tallies.

 

[Char_Azn]

Does HDB dare to reveal how many percent of loans were approved to foreign trash ?

PRs cannot loan from HDB

 

[TracyTan866]

HDB loan is a cash cow

 

[red amoeba]

if u consider hdb loan at 2.6 ur cock hair can already tell u where to go . those who turns to hdb rlikely those whom the banks throw out.

 

[Bigfuck]

if u consider hdb loan at 2.6 ur cock hair can already tell u where to go . those who turns to hdb rlikely those whom the banks throw out.

Yup, I raised this case. Some state owned banks can give zero to customers or 80% less than other banks.

 

[melissamarietan]

hey guys, even I am planning to go for HDB loan so that I can go ahead with my property investment. Hope that I get a green signal for the same. Cheers!

 

[Cestbon]

Law should change . No more 2nd loan from HDB.
Only 1 time.

 

[Scrooball (clone)]

Why no research on cpf level remaining after paying off housing loan?