If you wish to apply for the Lease Buyback Scheme (LBS), read on for an overview of the procedure as well as the fees payable.
You can make an e-Appointment with our HDB Branch to find out more about the LBS. You may log in either with or without SingPass, and click on 'Make a new appointment' > select 'Lease Buyback Scheme' > 'Enquiry'. You can then fill in your particulars (for log in without SingPass), choose an appointment date and time, and provide us with your contact details, before clicking on 'Confirm'. You will need to attend the appointment with all the co-owner(s), if any.
You may also wish to take note of the Terms and Conditions of the LBS.
On the day of appointment at the HDB Branch, we will:
If you decide to apply for the LBS after having a better understanding, we will assist you to make an application.
HDB will appoint a valuer from HDB's Panel of Private Valuers to conduct a market valuation of the flat, to determine the value of the lease retained by you, and the value of the tail-end lease sold to HDB. We will arrange a financial counselling session with you and your family to let you know the actual total payout and monthly income that you will receive under the LBS. You may confirm if you wish to proceed with the LBS during the financial counselling session.
If you are proceeding with the LBS, we will invite you to sign the legal documents in approximately 2 months. On the day of signing of legal documents, we will issue a cheque for any excess that is above the required CPF Retirement Account (RA) top-up (if applicable). The LBS bonus will be credited to your bank account and your monthly income will commence in about 1 to 2 months following the completion of the LBS transaction.
These are the fees payable for your application under the Lease Buyback Scheme.
$100 (inclusive of GST)
Will be deducted from the proceeds from the sale of the tail-end lease
Vary according to flat type and market value of flat
About $300 to $500
If you wish to transfer the flat ownership without monetary consideration, or pursuant to Court Order, start by finding out the eligibility criteria and types of transfers you can perform.