The Monetary Authority of Singapore (MAS) introduced the Total Debt Servicing Ratio (TDSR) framework for all property loans granted by financial institutions (FIs), with effect from 29 June 2013. In for the kill Computations of the TDSR affects properties that are residential or non-residential, individuals’ or companies', new applications or re-financed loans, and in or … [Read more...]
Buying properties in your child’s name
With soaring property prices and unceasing cooling measures, more buyers are considering buying their second or third property under their children's names. Here are some of the reasons: 1) Buy for the next generation just in case they can't afford one in the future. 2) Buy it under a child who hasn't bought any property to avoid paying ABSD (Additional Buyer Stamp … [Read more...]
New property cooling measures on loan restrictions
A new round of government measures to cool the property market was announced on Friday: 1) With effect from 6 October 2012, mortgage tenures of HDB flats and private properties are capped at 35 years. 2) Loans longer than 30 years have a borrowing limit of 60 percent of the property price. 3) If the >30-year-loan goes beyond the borrower’s retirement age of 65, and … [Read more...]