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Residential

Temporary Loan Scheme

The Temporary Loan Scheme (TLS) helps flat buyers who intend to use the sale proceeds from their existing flat to pay for their new flat, without taking a long-term mortgage loan. You can apply for a temporary loan to complete the new flat purchase first, while the sale of your existing flat is underway. The temporary loan will be redeemed subsequently, with the net proceeds from the sale of your existing flat.

Eligibility conditions

To qualify for the Temporary Loan Scheme, you must have:

  • Booked a new flat and the keys are now ready for collection
  • Submitted an application to sell the existing flat
  • Sufficient CPF/ cash proceeds from the sale of the existing flat to fully redeem the temporary loan

Once the temporary loan is approved, you will be invited to collect the keys to the new flat after your resale first appointment. The temporary loan will be offered at the prevailing non-concessionary interest rate. If the temporary loan amount (capped at the net sale proceeds) is not enough to complete the new flat purchase, you must top-up the shortfall in cash within the stipulated time period so that you can collect the keys to the new flat.

Application procedure

Please submit the Request Form for Temporary Loan form together with the resale application for your existing flat through MyDoc@HDB.