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Dear sir/mdm,

When you mention you read online that ''If your income exceeds the BTO income ceiling after you've applied for a BTO flat, and before you've completed the purchase, you'll likely be ineligible for the BTO flat and may face consequences, including losing your deposit and potentially needing to return the flat'', may I ask which is the source you have gotten the above from?

——

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Hi

Same question may I know where did you see this?

What i found online ''If your income exceeds the BTO income ceiling after you've applied for a BTO flat, and before you've completed the purchase, you'll likely be ineligible for the BTO flat and may face consequences, including losing your deposit and potentially needing to return the flat'' ?

Typically once the HFE letter is out, the eligibility will be based on this HFE letter details, and this letter is valid for 9 months. So even if your income exceeds after that, they will still refer to this hdb HFE letter as already passing the eligibility check back then when you apply.

If question 4 scenario happens, it is likely they will need you to keep the BTO (if within MOP) and have to sell the older flat. Unless there are some special reason for appealing to keep the older flat and give up the BTO. If post MOP, I think you may be able to choose. But this is ultimately all subject to HDB approval.

Regardless your income increment is positive news. What you can do within your control is quickly apply the HFE letter now since this is what is within control and you are still within the limit to apply.

Hope the above clarifies. I am well-versed with HDB and private property transactions, having helped more than 100 homeowners transit smoothly with their housing plans. Please reach out to me at 97432395  for a more in-depth discussion :)

May I have more info on your requirements so as to make better recommendations? Thanks and looking forward to chat more

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Good day to you,

In principle, given that you are likely to receive a significant increment and inherit an HDB unit, my advice is to avoid getting involved in the BTO selection process. Here are a few reasons why:

1. Even with approved HFE (Housing Funding Eligibility) and loan figures, HDB reviews your income status before you sign the Agreement of Lease.
2. If you intend to keep the inherited unit, it doesn’t make sense to invest time and effort into applying for a BTO.
3. Even if you intend to sell your inherited unit, you risk losing your BTO if your earned income exceeds the income ceiling for BTO eligibility, capped for singles.

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You may want to consult with HDB to determine the most suitable approach based on your specific circumstances and goals.
To contact HDB (Housing Development Board) in Singapore, you can reach them through the following channels:
HDB Hotline: You can call the HDB Hotline at 1800-225-5432 for general enquiries and assistance. This hotline operates from Monday to Friday, 8:00 AM to 5:00 PM, and Saturday, 8:00 AM to 1:00 PM.
Online Enquiry Form: Visit the official HDB website and fill out the online enquiry form to submit your queries or feedback. You can expect a response via email.
Visit HDB Branch Offices: If you prefer face-to-face assistance, you can visit one of the HDB branch offices located across Singapore. Check the official HDB website for the nearest branch office and its operating hours

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Hi,

1) The HDB had listed the possibility of your situation under:
https://www.hdb.gov.sg/cs/infoweb/residential/buying-a-flat/buying-procedure-for-new-flats/application?anchor=cancellation
The details of which stage and the consequences are listed under Financial forfeitures and consequences after cancellation.

Your income changes during various stages are as follow:
(a) During sales launched: no consequence
(b) Before booking: No financial forfeiture. The rest just telling you that you are no longer eligible due to income ceiling.
(c) After booking and before signing Agreement for lease. You will lost the Option fee which maximum is $500 since you are only eligible for a 2-room flexi.
(d) After signing the Agreement for Lease and before key collection. You will lost the 5% of the purchase price, buyer stamp duty and legal fees.

Quoted from the HDB: https://www.hdb.gov.sg/cs/infoweb/residential/buying-a-flat/understanding-your-eligibility-and-housing-loan-options/application-for-an-hdb-flat-eligibility-hfe-letter

The HDB will review your household details including your income nearer to the completion of the flat to confirm that there are no adverse changes in your ability to service the HDB loan. Otherwise, the loan amount may be reduced.

The above statement was extracted from Validity and possible review of HFE letter -> Possible review of HFE letter.

2) So, if your income is so near to the ceiling, you will have to consider the risk and decide whether to take the risk. The above also answer to your [Q2]. The review of income will be nearer to the completion of the flat, properly around 3~6 months before key collection, which means it will be 3~4 years from now.

3) Yes, you still the option of which to let go. But you have to accept the financial losses and consequences as listed in (1).

All the best!

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