Agreement for Sale of BTO or Balance Flats where HDB Loan Repayments are Made by Third Parties

Ms Sylvia Lim asked the Minister for National Development (a) whether HDB has entered into any agreement for the sale of HDB BTO or balance flats where a third party was liable to make the HDB loan repayments; and (b) if so, under what circumstances.

Mr Desmond Lee: For mortgage loans taken up with the Housing and Development Board (HDB), only flat owners are allowed to be the borrowers of their housing loans and they are liable for the loan repayments. HDB does not enter into any agreement with third parties who do not own the flat to make the HDB loan repayments on someone’s behalf.