I refer to the article, "Proposed rule changes to give home buyers better protection" (Jan 6).

I believe the proposed rule change on the refund coverage on costs incurred by home buyers if the sale and purchase agreement is annulled by the developer is long overdue.

I was caught in such a situation in 2016 - the sale and purchase agreement was annulled as the developer proposed changes to the common area which I did not consent to.

Even though the developer was the party which annulled the agreement, I as the home buyer had to bear the interest paid on the bank loan, the loan cancellation fee and the legal charges. The total costs incurred were quite hefty and hard to bear, mostly because it felt like the contractual terms were stacked in the developer's favour.

There is another sticky issue which I hope the Urban Redevelopment Authority will consider tackling to level the playing field even further - the timing of the refunds.

For the sale and purchase agreement to be annulled, the home buyer has to fully redeem the bank loan first. The developer refunds the instalments paid by the home buyer only weeks later.

This means the home buyer must have spare cash to pay the bank first and not rely on the refunds from the developer to pay the bank.

If the home buyer does not have the cash on hand, annulment is not an option and he would be forced to accept whatever changes the developer proposes in the middle of construction.

Tang Hwee Jiun