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?

  • user image

    No Name

    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.

    2020.03.24 15:44

    Please leave your knowledge and opinion!

    Related Forums

    Are young children allowed to do minor tasks in Singapore?

    Will employees receive payment if the company shutdown?

    An agency I applied for is a fraud.

    How much do we get paid on a public holiday? Do we also get payed if the holiday falls on a weekday?

    What is the Employment act of Singapore?

    When should I file my claim to the TADM?