Key Collection

You will be invited to collect the keys to your booked flat when it is completed, and the keys are ready for collection. If you have booked a completed flat, you will sign the Agreement for Lease and collect the keys to the new flat from 6 months after booking the flat.

Balance payment

You must pay the balance purchase price and resale levy (if applicable) in full before you can collect the keys.

2-room Flexi flats (sold on 99-year or remaining lease) and bigger flats

You can pay the balance of the flat purchase price by cash, CPF savings, housing loan (if eligible), or a combination.

If you are taking an HDB housing loan for the flat purchase and selling your existing flat at the same time, you may request for a Contra Payment Facility, which provides you with an additional loan on top of your housing loan, after all your available CPF OA savings balance is used for the flat purchase.

If you are not taking a housing loan, you may still request for a temporary loan to pay for your flat purchase and thereafter, redeem the temporary loan by using the net proceeds from the sale of your existing flat. The request can be made when you submit a resale application to sell your existing flat.

Short-lease 2-room Flexi flats

You must pay the balance purchase price and sales premium/ resale levy in full before you can collect the keys to your booked flat, as housing loan is not allowed for the purchase of short-lease 2-room Flexi flats.

However, if you are selling your existing flat at the same time, you may request for a temporary loan to pay for your flat purchase and thereafter, redeem the temporary loan by using the net proceeds from the sale of your existing flat. The request can be made when you submit the resale application to sell your existing flat.

Resale levy

Second-timer applicants are required to pay a resale levy for the purchase of a second subsidised flat, before they can collect the keys to the flat.

The resale levy payable is based on when the first subsidised flat was sold and will also be made known to you when you book your second subsidised flat. The levy applies regardless of ownership type (joint-tenancy or tenancy-in-common) or shared interest in the flat. The levy can only be paid using cash or your flat sale proceeds, and cannot be paid through an HDB housing loan or CPF savings.

When and how payment is made

Flat Sale Timeline Resale Levy Payment
First subsidised flat was disposed of after key collection to the second subsidised flat

Resale levy to be deducted from the net proceeds upon the sale of the first subsidised flat

Any shortfall to be paid in cash

First subsidised flat was disposed of before key collection to the second subsidised flat Resale levy to be paid in cash upon key collection to the second subsidised flat

Stamp duty and legal fees

When you collect the keys to the new flat, you have to pay a survey fee. You may also need to pay the registration fees and stamp duty on the Deed of Assignment.

Payments you need to make

Type of Fee HDB's Role
HDB acts for you in the purchase and loan* HDB acts for you in the purchase only HDB acts for you in the loan* only HDB is not acting for you
Survey fee Y Y Y Y
Lease In-Escrow registration fee Y Y N N
Mortgagee solicitors’ bill (Only payable if you are taking a housing loan from a financial institution)
  • Mortgagee’s legal cost and disbursements
  • Mortgage In-Escrow Registration Fee
  • Stamp Duty on Deed of Assignment
  • Mortgagee’s Caveat Fee
Y N Y N
* Applicable if you are taking a housing loan from HDB

Registration fees

There are 2 types of registration fees:

  • Lease In-Escrow registration fee of $38.30 (fixed amount): To be paid if HDB acts for you in the flat purchase
  • Mortgage In-Escrow registration fee of $38.30 (fixed amount): To be paid if HDB acts for you in the HDB housing loan

Survey fee

The survey fee payable is based on the flat type you are buying. Please note that the survey fee is subject to GST.

Flat Type Survey Fee (Before GST)
1-Room $150
2-Room $150
3-Room $212.50
4-Room $275
5-Room $325
Executive $375

Stamp duty for Deed of Assignment

The stamp duty for the Deed of Assignment is payable if you are taking a housing loan. It is calculated at 0.4% of the loan amount, subject to a maximum of $500.

Home Protection Scheme (HPS)

The HPS is a mortgage-reducing insurance scheme offered by the CPF Board. You have to be insured under HPS if you want to use your CPF Ordinary Account savings to pay your monthly loan instalments.

In the event of permanent disability or death before the insured person turns 65, the CPF Board will pay the outstanding housing loan amount, based on the amount insured under HPS.

The premium is paid annually using your CPF OA savings or cash. The premium amount depends on factors such as the declared percentage of coverage, loan amount, age, and sex of the insured person.

For more information on HPS, you may visit the CPF Board website. The CPF Board website also has a Home Protection Scheme Premium Calculator you may use to estimate the HPS premium amount.

Fire insurance

If you are taking a housing loan from HDB, you have to buy a fire insurance policy from our appointed insurer.

On the day of your appointment to collect the keys, please produce a valid Certificate of Insurance on the flat issued by our appointed insurer, FWD Singapore Pte Ltd (FWD).

The HDB fire insurance only covers building structures, fixtures and fittings provided by HDB. It does not include home contents such as furniture, renovations, and personal belongings. For more details about the HDB Fire Insurance, you may call FWD’s enquiry line at 6820-8888, or visit the FWD's website.

You are encouraged to buy additional home insurance from any insurer if you wish to go further to extend protection over your home contents that are not covered under the HDB fire insurance.

For those who are not taking a housing loan, you are also encouraged to buy a fire and home insurance for your flat. You may do so from any insurer.

Contra Payment Facility

The Contra Payment Facility provides you with an additional loan on top of your housing loan, after all your available CPF OA balance is used for the flat purchase. It makes up the shortfall in funds to complete your flat purchase, if you need the net proceeds from the sale of your existing flat to cover the shortfall.

When you buy a flat from HDB and sell your existing flat, the Contra Facility can help you to:

  • Reduce the cash outlay needed for your booked flat
  • Reduce the housing loan amount needed and the subsequent monthly repayments
  • Collect the keys to your booked flat and renovate it while selling your existing flat

You will have to redeem this additional loan with the net proceeds from the sale of your existing flat. Interest will be charged for this additional loan based on the interest rate charged for your HDB housing loan.

Eligibility conditions

To qualify for the Contra Facility, you must have:

  • Booked a flat and received an invitation to collect the keys
  • Applied to sell your existing flat

You must be:

  • Eligible for a housing loan from HDB, and are using it for your flat purchase
  • Able to cover the full purchase price of the flat using the following funds:
    • CPF Ordinary Account balance
    • Cash and CPF proceeds from the sale of your existing flat
    • Maximum housing loan from HDB that you are eligible for following credit assessment
  • If the funds above are insufficient, you must be able to top up the shortfall within the time period HDB provides, before the request for the Contra Facility can be approved
Application procedure If you wish to apply for Contra Payment Facility, please submit the request when you apply to sell your existing flat.

Important note:

To help you in your planning, please take note of these conditions for the Contra Facility:

  • The proceeds from the sale of your existing flat cannot be used to pay for the downpayment of your booked flat
  • You will be invited to collect the keys to the booked flat on or after the date of approval of your resale application to sell your existing flat
  • You can choose to use either a CPF contra arrangement, or a CPF and cash contra arrangement

Temporary Loan Scheme (TLS)

The TLS helps flat buyers who intend to use the net proceeds from the sale of their existing flat to pay for their flat purchase, without taking a housing loan. You may apply for a temporary loan to complete the flat purchase first, while the sale of your existing flat is underway.

The temporary loan is a mortgage of the new flat and will be redeemed subsequently, with the net proceeds from the sale of your existing flat.

To qualify for the TLS, you must have:

  • Booked a flat and the keys are now ready for collection
  • Fully redeemed your housing loan from a financial institution (FI) for the existing flat (if any)
  • Applied to sell the existing flat
  • Will have sufficient CPF and cash proceeds from the sale of the existing flat to fully redeem the temporary loan

After your resale application and temporary loan have been approved, you will be invited to collect the keys to your booked flat. The temporary loan will be offered at the prevailing non-concessionary interest rate (pegged to the average non-promotional interest rate for HDB flats offered by the 3 local FIs+). If the temporary loan amount (capped at the net proceeds from the sale of your existing flat) is not enough to complete your flat purchase, you must top-up the shortfall in cash within the time period HDB provides so that you can collect the keys to the booked flat.
+ The 3 local FIs are DBS Bank Limited, Overseas-Chinese Banking Corporation Limited, and United Overseas Bank Limited.

If you wish to apply for a temporary loan, please submit the request when you apply to sell your existing flat.

Power of Attorney (POA)

You need a POA if you are unable to sign the Agreement for Lease or collect the keys personally.

A Power of Attorney (POA) is a legal document that allows a person ('donor') to appoint another person ('attorney') to act on his behalf and in his name on matters specified in the POA.

If you are unable to collect the keys to the booked flat personally, you have to appoint a POA.