Committee of Supply 2023 debate, Day 5: Foo Mee Har on boosting support for first-time home owners
The lowering of the HDB loan-to-value (LTV) limit to 80 per cent means 20 per cent of cash or CPF is needed upfront. The need to save for the additional cash for the downpayment may set first-time home-buyers further back in their home ownership journey. MP Foo Mee Har, who highlighted this in Parliament on Thursday (Mar 2), urged the Government to provide a differentiated LTV for first-time home owners.
The lowering of the HDB loan-to-value (LTV) limit to 80 per cent means 20 per cent of cash or CPF is needed upfront. The need to save for the additional cash for the downpayment may set first-time home-buyers further back in their home ownership journey. MP Foo Mee Har, who highlighted this in Parliament on Thursday (Mar 2), urged the Government to provide a differentiated LTV for first-time home owners.
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