To refinance your housing loan, you must authorise your lawyer to submit the online application on your behalf by signing the Letter of Authorisation, Declaration, Consent & Agreement.
Required documents:
- Final or latest statement from your existing financier; and
- Letter of offer from the new financier stating the type and quantum of the new loan
Important notes:
Your current CPF monthly instalment payment to the existing financier (if any) will cease upon approval of the application submitted by your lawyer.
For HDB flat owners using CPF savings:
If you are not currently covered under the
Home Protection Scheme (HPS), you will need to apply for HPS after being informed that your refinancing application has been processed. Your eligibility for HPS cover is subject to approval and you being in good health. You can use your CPF savings to pay your monthly housing loan instalments while your HPS application is being processed.
If you are already insured by HPS or exempted from HPS, you can find out more below:
