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1,312 households with poor credit records granted more than 2 HDB loans
These families are in urgent need of housing.
The Ministry of National Development yesterday revealed that 25,000 mortgage loans were granted from January 2013 to June 2014, and that 1,312 households were given HDB loans even though they had already taken two HDB loans previously.
In a written response to MP for Hougang Png Eng Huat, the MND stated that these households are exceptions to the rule and that requests are evaluated on a case-by-case basis.
“Typically, these are flat buyers who have a steady income, in urgent need of housing, but are unable to secure financing from the banks due to poor credit records,” stated the MND.
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