According to Grace Fu, the Senior Minister of State for the Ministry of National Development & Ministry of Education, the recent announcement made by HDB to extend second concessionary loans is to help flat buyers manage their mortgage obligations and not to promote property speculations.
“The objective of allowing a second loan regardless of whether it’s upgrade or downgrading, it’s really to allow some families to make adjustments to their mortgage plan.”
"We recognise that some families may go through changes in their lives or in their jobs or the career that will require them to find a permanent solution in reducing their mortgage obligations. So, the second loan is to allow them to do that," she added.