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Buying A House |
| ...A Place To Call Your Own |
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| a) |
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| The CPF charge will take effect upon the release of CPF savings. The ranking of charge is shown in below: |
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| 1st Charge |
Bank's or HDB’s Outstanding Loan |
| 2nd Charge |
CPF principal sum up to 100% of VL plus CPF used to pay the legal and stamp fees in the purchase, and cost of upgrading under the HDB Main Upgrading Programme. |
| 3rd Charge |
Equal ranking
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CPF principal sum beyond 100% of VL plus CPF accrued interest |
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Repayment of outstanding balance of the housing loan interests | |
| 4th Charge |
Equal ranking
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CPF legal costs and expenses |
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Bank's legal costs and expenses | | | |
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| b) |
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The CPF charge will take effect on the property when the CPF savings are released. For private residential properties bought or refinanced after 1 September 2003, the ranking of the charge is shown in the Table below: |
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| 1st Charge |
Outstanding housing loan from your financier |
| 2nd Charge |
CPF principal sum up to 100% Valuation Limit plus CPF withdrawals used for the legal and stamp fees in the purchase |
| 3rd Charge |
Equal ranking (pari passu)
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CPF principal sum beyond the 100% Valuation Limit plus accrued interest |
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Repayment of outstanding balance of the housing loan interests | |
| 4th Charge |
Equal ranking (pari passu)
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CPF legal costs and expenses |
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Financier's legal costs and expenses | |
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