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💡 Read first: Why we decided to decouple our BTO
Contributing to the #Lemon8SG community with more information on how we decoupled our BTO! There’s really not a lot of information on this (on forums and even on the HDB website) and we spent time asking HDB lots of questions and going back and forth as well.
✨ OUR TIMELINE
We applied in October 2023 by using the generic feedback form on the HDB website! In our submission, we inquired about the decoupling process and costs involved, and also shared that we’re exploring as this arrangement works better for us. Note that different terms may be used to refer to the decoupling process such as “change of family nucleus” or “sub-transfer”.
▶️ 7 Nov
We got a reply from HDB! Some of the key things they shared:
- Occupier cannot use CPF to pay for the flat; owner will need to return all CPF funds paid (with interest)
- Occupier’s income will not be considered in loan assessment
- Change to sales application AFTER lease signing will require a transfer which involves ~$2700 stamp duty (cash only) and $385 sub-transfer fees (payable by CPF); if you’re married, just need to pay the $385 sub-transfer fees!
- Required to re-submit a bunch of documents such as HLE application and BTO application form
- Sub-transfer process takes ~3-4 months to complete; HDB will schedule a sub-transfer appt to sign documents when its ready
- In our case, the sub-transfer meant we’d have to defer key collection
▶️ 13 Nov
We submitted the required documents to HDB
▶️ 30 Nov
Email update from HDB that they have written to CPF to request for amount to be refunded to occupier’s CPF based on how much funds was paid for downpayment previously
▶️ 6 Dec
HDB set a date for the sub-transfer appointment!
▶️ 8 Dec
Email update from HDB that upon completion of sub-transfer, HDB will assess the EHG and conduct credit assessment based on new family nucleus (owner-occupier)
▶️ 19 Dec
Day of sub-transfer appt — we went down to HDB to “resign” the lease agreement and other documents as owner-occupier instead of co-applicants
▶️ 14 Jan
Received new HLE letter based on owner’s income
▶️ 22 Jan
Submitted EHG opt-out form to declare that we’re not eligible for grants (note that cursive signature as a font on PDF is not allowed - would need to print out and sign or include an e-signature!)
▶️ 23 Jan
HDB emailed to share our key collection appointment details!
▶️ 2 Feb
Key collection day ✨
Happy to share more about our experience if anyone has questions! Leave a comment below👇🏼