New Lease Buyback Scheme Takes Effect From 1 April 2015
In September 2014, the Government announced four enhancements to the Lease Buyback Scheme (LBS), in response to feedback received during the Our Singapore Conversation on Housing.
2 The new LBS will benefit more elderly households and provide greater flexibility to suit different preferences and needs. These enhancements will come into effect from 1 April 2015:
3 From 1 April 2015, applicants can enjoy the new LBS by submitting an online application via the HDB InfoWEB. Those who need help completing the application may approach any HDB Branch for assistance.
4 After the LBS application is submitted, HDB will conduct a personalised one-to-one financial counselling session for each household. The session seeks to help them better understand the LBS and the other monetisation options available, so that they can decide on an option that will best suit their priorities and retirement needs.
5 For more information on the LBS, the public can call HDB Branch Service Line at 1800-225-5432 between 8.00am and 5.00pm from Mondays to Fridays.