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SECURING YOUR FUTURE

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Under this assistance members are able to utilize their housing entitlement to upgrade/improve/renovate.

Guidelines:

1. The member may apply directly to FNPF if his/her eligibility is sufficient to cover the project cost and the property should be free of any caveats, non FNPF charges and other encumbrances.
2. The member must complete the prescribed application form FNPF Form 9G/3 and pay a processing fee of $43.
3. Members shall not be entitled for any further housing transfers, if they have previously misused funds under the Village or Direct Housing Loan Schemes, unless their previous transferred amounts are fully repaid. Incomplete Village housing transfers may be included in the FNPF charge but each case will be assessed on its own merit.
4. The dwelling house is to be occupied by the member.
5. You will not be assisted for minor repairs and maintenance e.g. painting, change of guttering, change of roofing etc.
6. Applicants are reminded that they will be required to maintain their property in good condition at their own expense. Inspection may be done by the FNPF to ensure that this requirement is being met.
7. Incomplete applications will not be accepted

Documents to be submitted with the application form:

•  FNPF Form 9G/3
• An original stamped copy of the title /lease, showing the latest transactions certified by the Registrar of titles office (the certification should not be more than 1 month old and also to be free of any encumbrances);
• Registered Quantity Surveyor’s (QSE) or Civil Engineer’s detailed report with scope of work and breakdown of the project’s estimated cost to completion stage is required if the project is over $10,000.00;
• If project cost is less than $10,000.00, member shall submit their own scope of works and breakdown of the project’s estimated cost;
• Quotation for building materials from three reputable hardware stores if the member is building himself OR General Contract quotations from three building contractors if a contractor is doing the work;
• Four photographs of the house showing areas that need upgrading;
• $43.00 processing fees (per applicant);
• Two quotations for labour, where labour and transportation costs are to be within 30% of the project cost;
• Receipts from the relevant authority showing evidence that land rental, town/city rates are up-to-date;
• Where FNPF eligibility is not sufficient to meet the total project cost, the member must submit evidence of their own funds to meet the shortfall. The evidence required is bank statements or receipts of deposits;
• A photocopy of members FNPF ID card showing the photo and signature; certified by either a FNPF Officer/Bank Official/JP/Commissioner of Oaths or a Barrister or Solicitor.

Method of Payment:

The amount approved will be paid in installments, direct to member's bank account/ OR to contractor for construction.

Processing Time of Progressive Payment

• Five working days from receipt of cash sales receipts and photographs of the house showing progress of work;
• Members will have to pay a re-activation fee of $10 if requesting for progress payments after 3 months since the last installment and submit the request together with photographs of the house, cash sale dockets and receipts. Property is to be inspected;
• Members requesting for progress payment after 1 year since the last installment will need to fully repay the previous outstanding transfer and reapply;
• Progress payments will be terminated if funds are misused.