Rivercove Residences Showflat

 

 

 

 

CHECK ELIGIBILITY

 

Please contact our dedicated and professional EC Team for a 10 minute EC Eligibility Questionnaire.

This is the most fundamental and important step to start with before your EC E-Application should be submitted for HDB approval during your EC booking. 

Our EC Team are professionally trained and experienced with HDB / EC policies and application procedures. We strongly recommend that you speak with only authorized marketing agents who are proficient and familiar with EC requirements.

Call us now for a no-obligation EC Eligibility Check to avoid any critical mistakes in your EC booking.

 

 

EC HELPLINE

+65 6698 0686

+65 9626 6969

 


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The following are the eligibility conditions to be fulfilled for your purchase of the new Executive Condominium (EC) Rivercove Residences. New launch executive condos such as Rivercove Residences EC are purchased directly from the developer, with HDB as the approving authority before the purchase can be completed. A pre-qualifying of your eligibility to purchase an EC must be done before you even submit your e-Application for an EC. This applies to both first-timer, second-timer and HDB upgrader applicants.

 

Which eligibility scheme do I apply under?

You can apply for Rivercove Residences EC under one of these eligibility schemes: Public Scheme, Fiancé/Fiancée Scheme, Orphans Scheme, and Joint Singles Scheme.

1. Public Scheme

You form a family nucleus with any of the following:

(i) Spouse, and children (if any)

(ii) Parents, and siblings (if any)

(iii) Children under your legal custody, care, and control (for widowed/ divorced applicants)

 

No change of people listed in the application

Applications under this scheme are only valid if there are no changes to the people listed – you are not allowed to replace your parents’ names with that of a spouse, or vice versa.

If applying for a dual-key EC as a multi-generation family

A multi-generation family is any of the following:

(i) Married/ engaged couple and parents/ grandparents

(ii) Widowed/ divorced with children and parents/ grandparents

 

2. Fiancé/Fiancée Scheme

You form a family nucleus with your spouse-to-be.

Submission of marriage certificate

Under this scheme, you need to submit a copy of your marriage certificate to the developer.

Written parental consent needed if spouse-to-be is 18 years old and above, but below 21

(i) That person can only be listed as an essential occupier in the flat application

(ii) Written consent from that person’s parents/ guardians must be submitted during the EC selection appointment.

Special Marriage Licence needed if spouse-to-be is below 18 years old

Following your EC application, you must obtain a Special Marriage Licence from the Ministry of Social and Family Development and submit it to us during the EC selection appointment.

No change of people listed in the application

Applications under this scheme are only valid if there are no changes to the people listed. That means that, in cases of break-up, you are not allowed to later put in the name(s) of a new spouse-to-be or of your parents in the application, even if the previous spouse-to-be agrees.

If applying for a dual-key EC as a multi-generation family

A multi-generation family is any of the following:

(i) Married/ engaged couple and parents/ grandparents

(ii) Widowed/ divorced with children and parents/ grandparents

 

3. Orphans Scheme

You and your siblings (those applying) are orphans and single (unmarried, divorced, or widowed)

(i) All of the siblings that are single must be listed in the same application

(ii) At least 1 of the deceased parents was a Singapore Citizen or Singapore Permanent Resident

Note that under the Orphans Scheme, siblings are not allowed to buy or rent flats separately.

4. Joint Singles Scheme

You and up to 3 other co-applicants, and all of you are:

(i) Single (unmarried, divorced, or widowed)

(ii) Singapore Citizens

(iii) At least 35 years old

(iv) Applying jointly as co-applicants

The CPF Housing Grant for singles is not available when buying an EC.

What is the income ceiling?

Your average gross monthly household income must not exceed $14,000 when you apply for Rivercove Residences Executive Condo.

What income documents must I submit?

To assess the average gross monthly household income for your Rivercove EC application, you and any other applicants and essential occupier will need to prepare specific documents depending on your nature of employment. Also, please note that some forms of income/ allowance are not included when assessing your household income.

 

Income documents to prepare

You and any other applicants and essential occupiers will need to prepare:

(i) Latest 3 months’ payslips if employed full-time

(ii) 12 months’ of income documents for other employment types

(iii) Proof of unemployment if not working

 

Specific documents are needed depending on your nature of employment. Also, please note that some forms of income/ allowance are not included when assessing your household income.

Aside from these documents, the developer may also request further documentation if needed.

Income/ allowance that will be considered for the income ceiling

(i) Allowances (fixed/ variable) received on a regular basis (e.g. allowances for food, transport, laundry, uniform, etc.)

(ii) Pension

(iii) Stipend

(iv) Sustenance

Income/ allowance not considered for the income ceiling

(i) Alimony allowance

(ii) Bonuses

(iii) Director fees

(iv) Income from overtime work income

(v) Interest from deposit accounts

(vi) National Service Allowance

(vii) Rental income

(viii) Scholarship overseas allowance

What if I am an undischarged bankrupt?

You need to obtain the consent of the Official Assignee if you are applying for Rivercove Residences EC. There is no need to do so if you are to be listed as an essential occupier.

Am I a first or second-timer applicant?

A first-timer applicant is a person or household that has never received any form of housing subsidy, or similar benefit; a second-timer applicant is a person or household that has. If you are a second-timer and your spouse/ spouse-to-be is a first-timer, you as a couple will enjoy first-timer privileges and priority.

 

First-timer applicant

First-timers enjoy privileges and priority in flat allocation.

 

Yours will be treated as a first-timer application if you and any of the other listed owners and essential occupiers meet the following criteria:

(i) Not the owner of a flat bought from HDB, or an EC/ DBSS flat bought from a developer

(ii) Not sold a flat bought from HDB, or an EC/ DBSS flat bought from a developer

(iii) Not received any CPF Housing Grant for the purchase of an HDB resale flat

(iv) Not taken any form of housing subsidy (e.g. benefitted under the Selective En bloc Redevelopment Scheme (SERS) or HUDC estate privatisation)

If you are a second-timer and your spouse/ spouse-to-be is a first-timer, you will be glad to know that you and your spouse/ spouse-to-be will enjoy first-timer privileges and priority as a couple.

 

Second-timer applicant

Yours will be treated as a second-timer application if any of the following applies to you or any of the other listed owners and essential occupiers:

(i) Have owned or sold any of the following:

(ii) HDB flat bought from HDB

(iii) Resale flat bought using a CPF Housing Grant

(iv) EC/ DBSS flat bought from the developer

(v) Once taken some form of housing subsidy (e.g. benefitted under the Selective En bloc Redevelopment Scheme (SERS), HUDC estate privatisation)

Are there any time period during which I cannot apply for and EC?

Yes. There are instances where you may need to wait out a set time period before you can apply or be listed in the application for a new EC. This usually happens when someone:

(i) Has not yet met a current flat/ EC’s Minimum Occupation Period (MOP)

(ii) Is a divorcee

(iii) Has previously cancelled an HDB flat application or terminated the Sale and Purchase Agreement for a DBSS flat/ EC

MOP requirements: current owner of a flat/ EC

Before applying for the new Rivercove Residences EC, do you or any other flat applicants and essential occupiers to be listed in the flat application own any of these?

(i) Flat bought from HDB

(ii) Resale flat bought with a CPF Housing Grant

(iii) DBSS flat/ EC bought from the developer

If so, that person must have already met that flat/ EC’s 5-year MOP before being allowed to apply for a new EC.

In the case of current/ prior EC ownership, you must also wait out a 30-month period from the EC’s effective date of disposal as evidenced by your Notice of Transfer, or any other such documentation requested.

MOP requirements: essential occupier of a flat/ EC

An essential occupier of the following must have already met that flat/ EC’s 5-year MOP before being allowed to be listed in Rivercove EC application, whether as an owner or essential occupier:

(i) Flat bought from HDB

(ii) Resale flat bought with a CPF Housing Grant

(iii) DBSS flat/ EC bought from the developer

Divorcee

In case of a divorce, conditions will apply for the following types of property:

(i) Flat bought from HDB

(ii) Resale flat bought with a CPF Housing Grant

(iii) DBSS flat/ EC bought from the developer

3-year wait-out period

(i) For 3 years from the date of the divorce, only 1 party in the divorce can own any of the above properties

(ii) If any of the above properties was the matrimonial home and is now owned by your ex-spouse, you must wait for 3 years before you can buy or be listed as an essential occupier in one

(iii) If the matrimonial home was not one of the above, or if there was no matrimonial home, 1 party can apply for the abovementioned property types. However, the other party must first undertake to not own or be listed as an essential occupier of said properties for 3 years from the date of the divorce

Exception

There is no need for any 3-year wait-out period or undertaking if you are:

(i) Buying one of the above properties with your parents and/ or new spouse

(ii) A parent meeting these conditions:

All of your children are aged below 18 at the date of the divorce

All the children are under your legal custody and you are the only parent given the care and control of your children.

Cancelled an HDB flat application after booking a flat

If you booked a new HDB flat and subsequently cancel your booking, you must wait out a 1-year period from the date of the cancellation before you can apply or be listed as an essential occupier of a:

(i) New HDB flat

(ii) DBSS flat/ EC bought from a developer

(iii) Resale flat bought using a CPF Housing Grant

(iv) Resale flat announced for SERS

Terminated the Sale and Purchase Agreement for an EC/ DBSS flat

If you had previously bought a DBSS flat/ EC using a CPF Housing Grant and subsequently terminated the Sale and Purchase Agreement, you must wait out a 5-year period from the date of the termination before you can apply or be listed as an essential occupier of Rivercove EC.

Can I get a new EC if I used to/ still own or have full/ partial interest in a local/ overseas non-HDB property?

No, you may not. For an EC application, all the listed owners and essential occupiers must not own, dispose, or have an estate or interest in any other local or overseas property:

Within 30 months before the date of Rivercove Residences EC application, and up to the date of taking possession of the EC

The properties considered in this instance include but are not limited to:

(i) HUDC flats (privatised and non-privatised)

(ii) Properties acquired by gift

(iii) Properties inherited as beneficiaries under a will or as a result of the Intestate Succession Act

(iv) Private property

(v) Properties owned, acquired, or disposed through nominees, regardless of properties’ location

Can I get a new EC if I used to/ still own an HDB flat, DBSS flat, or EC?

Yes, provided that you only own/ owned 1 of the following units prior to your application:

(i) Flat bought from HDB

(ii) EC/ DBSS flat bought from the developer

(iii) HDB resale flat bought using a CPF Housing Grant (only applies to first-timer applicants)

(iv) In essence, an eligible Singapore Citizen is allowed to buy the above properties twice in total, not twice per type of property.

 

If you have already bought 2 such properties, you will not be eligible to apply for an EC or be listed as an essential occupier in an application.

Source: www.hdb.gov.sg