Fresh Start in home ownership for over 30 families

More than 30 families have successfully applied for a Housing Board flat under the Fresh Start Housing Scheme, said Minister for National Development and Second Minister for Finance Lawrence Wong in a Facebook post yesterday.

The scheme, which was launched in December last year, aims to help families with at least one child below the age of 16 who live in public rental flats to buy a two-room Flexi Flat.

Through the scheme, families can buy a two-room Flexi Flat on a shorter lease, which is more affordable than a flat on a standard 99-year lease. They can also get a new Fresh Start Housing Grant of up to $35,000 for a 60-or 65-year lease and take up a HDB Concessionary Loan.

Under the scheme, families who qualify will be able to buy a new 2-room Flexi flat. The flats will come with shorter leases, ranging from 45 to 65 years, to keep the price affordable, and will also come with a longer Minimum Occupation Period of 20 years, to ensure a stable home for the children.

In his post, Mr Wong highlighted that out of the 56 families placed under the scheme, 33 have already successfully applied for a flat.

A total of 56 families have been placed on the scheme and “are making the transition to becoming home owners again”, said Mr Wong.

Thirty-three of them have already successfully applied for a flat, he added.

The scheme stipulates conditions such as at least one of the applicants having been in stable employment for the previous 12 months and the average gross monthly household income not exceeding $6,000.

Families also need to be assessed by the Ministry of Social and Family Development.

One of the successful applicants, said Mr Wong in his post, is Madam Kalaivani Kamal Batcha, who is currently renting a flat in Clementi with her two daughters.

After being placed under the Fresh Start Housing Scheme in March, she managed to apply for a flat in Bukit Batok in May’s Sale of Balance Flats exercise.

“Madam Kalaivani and her family can look forward to collecting the keys to their new home early next year. I wish Madam Kalaivani and the rest of the families the best of luck on their new home ownership journey,” said Mr Wong.

Adapted from : The Straits Times, 6 December 2017