Approved: 8 cases of reverse mortgage on HDB flats

We have approved 8 cases of reverse mortgage on HDB flats during the past 3 months for a total of $657,000. The average loan is $82,000, to be withdrawn in monthly installment over the loan period (of up to 20 years).

Another 4 cases are being processed.

We received many enquiries, but the number of applications is still small at this time.