How do I pay for my house using my Ordinary CPF account if I don't have a CPF property pledge?
I want to used my Ordinary CPF account to by myself an HBD flat however I don't have a property charge to finance the purchase of my property and pay for my housing loan. Would I still be able to purchase a house and if in case I can, is there something that I have to do in leu of the absence of my property charge?
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There is no need to worry because in case you don't have a property charge, then a property pledge will be created if you choose to withdraw sums in excess of the Basic Retirement Sum under the property pledge withdrawal rules. When the property is sold, the amount of the pledge will be returned to your CPF account from the proceeds of the sale.