View Full Version : Singapore takes new steps to cool housing market
SINGAPORE: The Monetary Authority of Singapore (MAS) will restrict the tenure of loans granted by financial institutions for the purchase of residential properties, effective from 6 October.
MAS' move is part of the government's broader aim of avoiding a price bubble and fostering long-term stability in the property market.
The maximum tenure of all new residential property loans will be capped at 35 years.
In addition, loans exceeding 30 years' tenure will face significantly tighter loan-to-value (LTV) limits.
This will apply to both private properties and HDB flats.
The new rules aim to curb continued upward pressure on residential property prices, driven by low interest rates and rapid credit growth, said MAS.
Previous rounds of measures have had a moderating effect on residential property prices. There is also significant supply of housing that will come onto the market over the next two years.
However, prices in both the HDB resale market and private residential property have continued to rise in Q2 and Q3 of 2012.
- CNA/ir
ikan bilis
05-10-12, 18:12
haha... mas chicken out liow... :D
but why residential properties only.... :simmering:
haha... mas chicken out liow... :D
but why residential properties only.... :simmering:
If I read correctly, this only applies to new property purchase, so for existing property, it should not affect your refinancing cost. Also LTV is very subjective as valuer can always increase the valuation to beat the LTV limit.
will be interesting to know what will be the LTV to take up 35 years mortgage.
ikan bilis
05-10-12, 18:24
what i mean is why it does not cover all property types including residential, industrial, offices and shops ??... industrial and office are too speculative now....
Suspected they were going to announce something this weekend given all the recent noise about rising prices. Just didn't want to be suay chui say it out. Haha.
Should have taken that uob 50 years loan :rolleyes:
what i mean is why it does not cover all property types including residential, industrial, offices and shops ??... industrial and office are too speculative now....
because industry properties loan tenure is usually short and they do not want to create further cost burden to businesses.
Should have taken that uob 50 years loan :rolleyes:
You under 30years old meh? Haha.
because industry properties loan tenure is usually short and they do not want to create further cost burden to businesses.
Right on! Plus commercial properties/market is much more complex than residential market.. any drastic change can have huge impact on our economy!!!
auroraborealis
05-10-12, 18:36
http://www.channelnewsasia.com/stories/singaporelocalnews/view/1229731/1/.html
Ppl who just bought but yet sign LO affected le... Esp those with multiple loans
lucky I already locked in my loan one yr ago despite not being disbursed yet
ikan bilis
05-10-12, 18:42
because industry properties loan tenure is usually short and they do not want to create further cost burden to businesses.
Right on! Plus commercial properties/market is much more complex than residential market.. any drastic change can have huge impact on our economy!!!
......it will push more speculations towards commercial/industrial...
for commercia/industrials (vs residential)
- No SSD
- No ABSD
- No 40% downpayment (LTV=60% max) for 2nd properties
- No restriction on loans
- smaller quantums (commercial/industrial starting from $300-400K, MM condos starting from $500-600K)
:simmering:
Suspected they were going to announce something this weekend given all the recent noise about rising prices. Just didn't want to be suay chui say it out. Haha.
I already anticipated it a few months back, and thats why I told my wife, we should buy instead of wait because I dont foresee prices will crash anytime soon.
buttercarp
05-10-12, 18:43
http://www.channelnewsasia.com/stories/singaporelocalnews/view/1229731/1/.html
Ppl who just bought but yet sign LO affected le... Esp those with multiple loans
"Furthermore, MAS will lower the LTV ratio for new residential property loans to borrowers who are individuals, if the tenure exceeds 30 years or the loan period extends beyond the retirement age of 65 years.
For these loans, the LTV limit will be: 40% for a borrower with one or more outstanding residential property loans; and 60% for a borrower with no outstanding residential property loan."
OMG...... I feel scared for those who just bought but have not secured their loan! Why reduce the LTV for those with no outstanding residential property loan?
So if loan tenure does not exceed 30 years or extend beyond retirement, it should remain in status quo, right?
......it will push more speculations towards commercial/industrial...
for commercia/industrials (vs residential)
- No SSD
- No ABSD
- No 40% downpayment (LTV=60% max) for 2nd properties
- No restriction on loans
- smaller quantums (commercial/industrial starting from $300-400K, MM condos starting from $500-600K)
:simmering:
yes and now. The grey area in this policy is that LTV is subjective to valuer.
"Furthermore, MAS will lower the LTV ratio for new residential property loans to borrowers who are individuals, if the tenure exceeds 30 years or the loan period extends beyond the retirement age of 65 years.
For these loans, the LTV limit will be: 40% for a borrower with one or more outstanding residential property loans; and 60% for a borrower with no outstanding residential property loan."
OMG...... I feel scared for those who just bought but have not secured their loan! Why reduce the LTV for those with no outstanding residential property loan?
I suspect this will affect alot of Sales performance for the upcoming New launches and those Sellers who are hoping to resale their units at a good price.
those that sold or missed the boat and sitting on side lines waiting .... can plan for longer wait now.
ikan bilis
05-10-12, 18:51
i think resale/2nd-hand market for private residential property will be more dead from now on.... :sleep:
auroraborealis
05-10-12, 18:53
Sigh... Just 1.5mnths after national day rally... I think buyers too complacent le... That's y they purposely whacked us by surprise
New measure, mai gan cheong, take your time and slowly take ur pick. No need fight for same unit
buttercarp
05-10-12, 18:54
But this will not affect those who turn up with a bag full of cash at the showroom to purchase.
With this new CM, those still waiting on the sideline will jump in now & bite the bullet with shorter loan tenure for fear of more CM in the future.
Otherwise they will miss more boats. :2cents:
refinancing also affected
auroraborealis
05-10-12, 18:56
But my stance is firm... Whether mkt crash or not, I'm going to hug what I have (no selling)... If sell more n more difficult to buy back le; all the cash rich foreigners who have 100% cash will squeeze most Singaporeans out of the mkt
buttercarp
05-10-12, 18:57
With this new CM, those still waiting on the sideline will jump in now & bite the bullet with shorter loan tenure for fear of more CM in the future.
Otherwise they will miss more boats. :2cents:
Yup, especially those waiting at the sidelines with lots of ready cash.
So do you think there will be even better sales at the new launches?
this cm all thanks to eco and kovanregency
buttercarp
05-10-12, 18:59
refinancing also affected
How do you think it will be affected?
I feel like I am suffocating!
more parents will be buying in their children names
With this new CM, those still waiting on the sideline will jump in now & bite the bullet with shorter loan tenure for fear of more CM in the future.
Otherwise they will miss more boats. :2cents:
demand for smaller apartment should will jump due to the new LTV ratio
buttercarp
05-10-12, 19:02
Wah lau...... u both sound like soothsayers!
this cm all thanks to eco and kovanregency
not just that. The entire property market, including hdb and resale are all moving up.
phantom_opera
05-10-12, 19:03
Let me confirm:
Take for example, a man at 40y old with 1 outstanding loan, with the ruling, he can only borrow 60% for 25y loan (b4 this new ruling, he can borrow for any tenure up to 50y), if he wants to borrow beyond 25y, the LTV becomes 40%?
So he still has 2 choices: 25y LTV 60% or 35y LTV 40%
Teo bo??
ikan bilis
05-10-12, 19:05
"Furthermore, MAS will lower the LTV ratio for new residential property loans to borrowers who are individuals, if the tenure exceeds 30 years or the loan period extends beyond the retirement age of 65 years.
For these loans, the LTV limit will be: 40% for a borrower with one or more outstanding residential property loans; and 60% for a borrower with no outstanding residential property loan. "
hahaha.... you have to be <35yr old else tio toto/4d liow.... :D
Yup, especially those waiting at the sidelines with lots of ready cash.
So do you think there will be even better sales at the new launches?
I don't have 3rd & 4th eyes like someone but I think that the kiasu mentality will force these people to chiong when they see something within range. If need help, they will beg & borrow from ........ parents/relatives. Some parents are very soft hearted and will support their child even more for fear of their beloved child missing out again.
Apologies in advance. I'm not referring to anyone in particular but just general discussion.
buttercarp
05-10-12, 19:06
Let me confirm:
Take for example, a man at 40y old with 1 outstanding loan, with the ruling, he can only borrow 60% for 25y loan (b4 this new ruling, he can borrow for any tenure up to 50y), if he wants to borrow beyond 25y, the LTV becomes 40%?
So he still has 2 choices: 25y LTV 60% or 35y LTV 40%
Teo bo??
Yes, that's what I understand.
before this up to 75yo for ocbc
auroraborealis
05-10-12, 19:10
But unless I'm mistaken... Only single borrower affected here, married couples not affected cos "joint borrowers"...
I think developers affected immediately... Property stocks die on mon le
"Furthermore, MAS will lower the LTV ratio for new residential property loans to borrowers who are individuals, if the tenure exceeds 30 years or the loan period extends beyond the retirement age of 65 years.
For these loans, the LTV limit will be: 40% for a borrower with one or more outstanding residential property loans; and 60% for a borrower with no outstanding residential property loan. "
hahaha.... you have to be <35yr old else tio toto/4d liow.... :D
refinancing only.affected.by the 35yr cap. not the ltv changes
MAS should have done this earlier.
buttercarp
05-10-12, 19:12
hahaha.... you have to be <35yr old else tio toto/4d liow.... :D
It applies to both private and HDB.
Then how the young ones going to own their first flat.
How will this affect the sale of EC?
If let say you earn 12k or less and you book Heron Bay PH at 1.5mil.......:scared-3: .
why only single? joint or multiple borrowers, the age of the youngest person is used as gauge
But unless I'm mistaken... Only single borrower affected here, married couples not affected cos "joint borrowers"...
I think developers affected immediately... Property stocks die on mon le
It says borrowers who are individualsso should applies to couples as well.
I suspect if buy under company name then this will not apply.
"Furthermore, MAS will lower the LTV ratio for new residential property loans to borrowers who are individuals, if the tenure exceeds 30 years or the loan period extends beyond the retirement age of 65 years.
For these loans, the LTV limit will be: 40% for a borrower with one or more outstanding residential property loans; and 60% for a borrower with no outstanding residential property loan. "
hahaha.... you have to be <35yr old else tio toto/4d liow.... :D
That's why Tharman da man will always have my respect.. obviously targeting those rich uncle/aunties buy like no 2moro with no where else to put their money. Of cse every policy there is a loophole, so if these pple try to distort/up the market by buying solely under their chewren's name [<35yrs] I nothing to say
phantom_opera
05-10-12, 19:14
But unless I'm mistaken... Only single borrower affected here, married couples not affected cos "joint borrowers"...
I think developers affected immediately... Property stocks die on mon le
They forget to say about joint borrowers, what I suspect is the strictest apply ... e.g. you are 40y old your wife 30y old, then the stricter rule will apply to the 40y old
;)
The rich can still buy don't worry. This effectively only lower the leverage for them and kill those borderline buyers.
Jialat, lots of return units for ECO/KR as many have not secure a loan :banghead:
ikan bilis
05-10-12, 19:15
But unless I'm mistaken... Only single borrower affected here, married couples not affected cos "joint borrowers"...
I think developers affected immediately... Property stocks die on mon le
"individuals" should be "non-company".... i think....
refinancing only.affected.by the 35yr cap. not the ltv changes
source please because I am in the mist of refinancing one of my existing loan.
can always not exercise otp
phantom_opera
05-10-12, 19:17
source please because I am in the mist of refinancing one of my existing loan.
it is in the fine print on MAS website ... there is cap to 35y counting from your original loan starting date if I understand correctly
that means you can only refinance to shorter tenure
auroraborealis
05-10-12, 19:18
Lose 1.25% loh...
Next time HK add cooling measures we better be on guard le,
Seems to go hand-in-hand these days
can always not exercise otp
http://www.mas.gov.sg/en/News-and-Publications/Press-Releases/2012/MAS-Restricts-Loan-Tenure-for-Residential-Properties.aspx
"The new rules impose an absolute limit of 35 years on the tenure of all loans for residential property. This will apply to loans to both individual and non-individual."
bros n sis, pls read not one twice but thrice. very long article.
in the link by aurora
http://www.channelnewsasia.com/stories/singaporelocalnews/view/1229731/1/.html
sorry miss out one line
"The new rules impose an absolute limit of 35 years on the tenure of all loans for residential property. This will apply to loans to both individual and non-individual borrowers, as well as refinancing loans."
ikan bilis
05-10-12, 19:20
It applies to both private and HDB.
Then how the young ones going to own their first flat.
How will this affect the sale of EC?
If let say you earn 12k or less and you book Heron Bay PH at 1.5mil.......:scared-3: .
ummm... tomorrow quickly go beg developer to change from ph to 2bdr ??... :( :ashamed1:
auroraborealis
05-10-12, 19:21
I think they quite evil leh... Take effect over a weekend means bankers cannot help last min borrowers to rush out LOs; else those new buyers still have a chance
http://www.mas.gov.sg/en/News-and-Publications/Press-Releases/2012/MAS-Restricts-Loan-Tenure-for-Residential-Properties.aspx
this cm is power.
butter sis use the word suffocated.
I will say more like immobilized.
buttercarp
05-10-12, 19:22
sorry miss out one line
"The new rules impose an absolute limit of 35 years on the tenure of all loans for residential property. This will apply to loans to both individual and non-individual borrowers, as well as refinancing loans."
Yes, very important.
Cannot stretch loan beyond 35 years for both groups.
Means no one is allowed to borrow more than 35 years.
sorry miss out one line
"The new rules impose an absolute limit of 35 years on the tenure of all loans for residential property. This will apply to loans to both individual and non-individual borrowers, as well as refinancing loans."
You have very sharp eyes. Uncle need Ah B BIG RED FONTS to see clearly. :D
phantom_opera
05-10-12, 19:22
Buy buy buy ... that means no more bubble, only the rich or cash rich can own properties and enslave the middle class, steady pun pi pi :D
Set liao, I will buy one more property to take advantage ;)
No sweat, just borrow 25y at 60% LTV :cheers1:
Anybody want to beg me to take over his unit at 20% discount :p
buttercarp
05-10-12, 19:23
this cm is power.
butter sis use the word suffocated.
I will say more like immobilized.
Immobilized is worse than dead.
In other words, must buy properties before the age of 30 and get 30 years loan...
ringo33 if 33 only... I older by lots lor
With all these cheap money around but less people to lend to... What will happen next? Negative interest rates?
buttercarp
05-10-12, 19:25
In other words, must buy properties before the age of 30 and get 30 years loan...
That's why I feel sufocated.
Cos likely, next time I may have to help my kids buy.
which will phantom bro buy? skies miltonia? sky green?
phantom_opera
05-10-12, 19:26
Sellers die die will not sell liao because once sell cannot buy back anymore
[quote=phantom_opera]it is in the fine print on MAS website ... there is cap to 35y counting from your original loan starting date if I understand correctly
that means you can only refinance to shorter tenure[/quote
which mean, you are still able to refinance your existing loan to 35 years cap and 65 years old mortgagee limit is not applicable for refinancing?
buttercarp
05-10-12, 19:27
Sellers die die will not sell liao because once sell cannot buy back anymore
Yup, this CM has helped me decide on my next step.
it is in the fine print on MAS website ... there is cap to 35y counting from your original loan starting date if I understand correctly
that means you can only refinance to shorter tenure
I read on MAS site:
For these loans, the LTV limit will be:
60% for a borrower with no outstanding residential property loan.Those who are 40 have to Down 40% even he/she without any existing loan....wow
Sellers die die will not sell liao because once sell cannot buy back anymore
I like the BIG RED FONTS. :D
buttercarp
05-10-12, 19:31
Wonder is yowetan affected?
auroraborealis
05-10-12, 19:32
Let's boycott UOB... I think largely their fault for coming out with 50yrs...
40yrs good enuf loh... Extra... Now worse
ikan bilis
05-10-12, 19:32
I read on MAS site:
For these loans, the LTV limit will be:
60% for a borrower with no outstanding residential property loan.Those who are 40 have to Down 40% even he/she without any existing loan....wow
25yr loan lor.... don;t overshoot the 65yr limit...
"The rules will apply to new loans granted to individuals and non-individual borrowers, by financial institutions regulated by MAS, for the purchase of residential property, if the date when the option to purchase was granted or, where there is no option to purchase, the date of the sale and purchase agreement, is on or after 6 October 2012. For re-financing facilities, the rules will apply where the application date of such facilities is on or after 6 October 2012."
Still got 4hr 28min to sign that otp.
QUICK!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
mad rush tonight
I thought Khaw said no cooling measure?
Oh this is Tharman not Khaw
Must be Mr B fault cos he stop crying crash 50% by 2015
Let's boycott UOB... I think largely their fault for coming out with 50yrs...
40yrs good enuf loh... Extra... Now worse
Now U-OB-good Liao....
buttercarp
05-10-12, 19:37
"The rules will apply to new loans granted to individuals and non-individual borrowers, by financial institutions regulated by MAS, for the purchase of residential property, if the date when the option to purchase was granted or, where there is no option to purchase, the date of the sale and purchase agreement, is on or after 6 October 2012. For re-financing facilities, the rules will apply where the application date of such facilities is on or after 6 October 2012."
Still got 4hr 28min to sign that otp.
QUICK!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
mad rush tonight
This sentence also very important.
Uncle, you are really sharp.
So those who signed OTP are quite safe for the time being, unless they re- finance in future.
such a phenomenal news, bro kana only play English? wheres my chinese one..
for the past cm, even though same timing, give u like 6hrs to last min shopping, was of no effect coz those were curbs on stuff like ltv and ssd which u cant immediately affect.
but this time round, there is a window of opportunity. albeit 5-6hrs oni. showflat all ton nite liaoz!!!!
ikan bilis
05-10-12, 19:48
haha....
for S$1mil, at 1.2% interest rate....
40yr loan, $2624/month
30yr loan, $3309/month
20yr loan, $4689/month
:im-so-happy:
buttercarp
05-10-12, 19:50
haha....
for S$1mil, at 1.2% interest rate....
40yr loan, $2624/month
30yr loan, $3309/month
20yr loan, $4689/month
:im-so-happy:
Now, cannot 40 yr loan liao.
35 yr loan is the max.
ikan bilis
05-10-12, 19:53
Now, cannot 40 yr loan liao.
35 yr loan is the max.
umm... i read that cna news... like still can, except higher downpayments of 40/60% ??... (LTV reduced to 40/60%, instead of 60/80%)...
haha....
for S$1mil, at 1.2% interest rate....
40yr loan, $2624/month
30yr loan, $3309/month
20yr loan, $4689/month
:im-so-happy:
The trick is if still scare cannot get bank approval for the shorter tenure, pay upfront 25% or 30% instead of 20% for 1st property. This will help reduce the mortgage interest and monthly installment.
But where to get the extra cash to pay installment?
Beg, Borrow or R.......... lor. Anyway Ka Ki Nang, don't need to pay back so soon. Just drag on until ........
what an apt day for this cm
chewren are our future indeed
buttercarp
05-10-12, 19:56
umm... i read that cna news... like still can, except higher downpayments of 40/60% ??... (LTV reduced to 40/60%, instead of 60/80%)...
Read carefully again:
"The new rules impose an absolute limit of 35 years on the tenure of all loans for residential property. This will apply to loans to both individual and non-individual borrowers, as well as refinancing loans."
ikan bilis
05-10-12, 19:59
Read carefully again:
"The new rules impose an absolute limit of 35 years on the tenure of all loans for residential property. This will apply to loans to both individual and non-individual borrowers, as well as refinancing loans."
ok... sis.. sorry, forgot about that 1.... 35yr max.... :ashamed1:
http://www.mas.gov.sg/en/News-and-Publications/Press-Releases/2012/MAS-Restricts-Loan-Tenure-for-Residential-Properties.aspx
Link to the article on mas website.
this cm all thanks to eco and kovanregency
And One Dunsun too!
1 Where a borrower applies for a refinancing facility in respect of any balance outstanding under a residential property loan, the sum of the tenure of the refinancing facility and the number of years since the first residential property loan granted to the borrower for the purchase of that residential property was first disbursed, cannot exceed 35 years.
With that above sentence, can someone tell me, if your loan was such that for BUC projects you get a FREE CONVERSION upon TOP, is that considered a refinancing? :beats-me-man: :beats-me-man: :beats-me-man:
my dear dtrax alrwady posted the mas link earlier
but why residential properties only.... :simmering:
Akan Datang.:)
one new formula for property financing :D
max loan tenure for max LTV = min( 65 - age , 30 )
evwryone bz punching calc or calling ageny to sign otp NOW lol
So how does this work e.g. if I have a 80% loan today and due for refinancing?
ikan bilis
05-10-12, 20:11
can i say these days most loans stretched to beyond 65yr old... like 70 or 75yr old ??... so ??...
so next time when borrowers ask the banks for repricing, if the bank officers look at your loan stretched to over 65yr old... they will just simply say: " Haha.... lower the interest rate ??... you can TANKUKU !! ".... ??...
??....
:im-so-happy:
ommmm if u r young then no effect.
whats ur age
So anyone can tell me what is the LTV limit for loans less then 30years now?
price. ans is no
so for free conversion 1 can still choose their different interest rates packages etc? phew! my loans are safe then! :D cannot sell liao like tat.
ommmm if u r young then no effect.
whats ur age
not young anymore.. 40?
for young normal case ltv as per normal 80% for first. 60% for subsequent
So anyone can tell me what is the LTV limit for loans less then 30years now?
Still same if u r not yet 35y old.
ikan bilis
05-10-12, 20:14
So anyone can tell me what is the LTV limit for loans less then 30years now?
if loan tenure of 30yrs + age don't over shoot 65yrs....
1st housing loan: LTV 80%
2nd housing loan: LTV 60%
if loan tenure of 30yrs + age over shoot 65yrs....
1st housing loan: LTV 60%
2nd housing loan: LTV 40%
ikan bilis
05-10-12, 20:16
not young anymore.. 40?
take 25yr loan, dun take 30....
I just realized this forum recovered . Today or yesterday ?
...and what a news to greet this ;)
ommm can opt not to refinance?
ltv wont.change for.existing.loan if u refinace to.25 yr loan
ltv become 40% if u maintain.tenure?? blur
take 25yr loan, dun take 30....
Means LTV=60%? If so, a lot of people will be screwed..
Wa... With this measure, the new launches all must revise price down? Eco n GR get ready for more return units?
Hmmm.... The new Sky Garden(??) at Macpherson, supposed launch price of 1.5-1.6psf.... Now must discount 100-200psf to move??
ommm what was ur age when u first got this loan?
" Where a borrower applies for a refinancing facility in respect of any balance outstanding under a residential property loan, the sum of the tenure of the refinancing facility and the number of years since the first residential property loan granted to the borrower for the purchase of that residential property was first disbursed, cannot exceed 35 years."
ommm can opt not to refinance?
ltv wont.change for.existing.loan if u refinace to.25 yr loan
ltv become 40% if u maintain.tenure?? blur
ok not too bad then if refinance to 25yr.. just paying more every month, but don't have to pay down the difference outright?
ikan bilis
05-10-12, 20:22
ommm what was ur age when u first got this loan?
" Where a borrower applies for a refinancing facility in respect of any balance outstanding under a residential property loan, the sum of the tenure of the refinancing facility and the number of years since the first residential property loan granted to the borrower for the purchase of that residential property was first disbursed, cannot exceed 35 years."
wow... more things on mas website ??.... :scared-5:
Wa... With this measure, the new launches all must revise price down? Eco n GR get ready for more return units?
Not likely. The developers will just wait and see.
bro fshy.. then??? I own self create one meh??? lpl
Lucky just signed my bank loan tuesday....if not kana forfeit....Heng ah
ikan bilis
05-10-12, 20:27
bro fshy.. then??? I own self create one meh??? lpl
heehee... me lazy fish read simplified version on cna news onli.... :ashamed1:
its when u sign u otp not bank loan
but to be really sure u r right better to make sure sign loan by tonight wahahaha
so those who got 40 and 50 years loan have found themselves a "rare loan" tenor:scared-1: ?
can i say these days most loans stretched to beyond 65yr old... like 70 or 75yr old ??... so ??...
so next time when borrowers ask the banks for repricing, if the bank officers look at your loan stretched to over 65yr old... they will just simply say: " Haha.... lower the interest rate ??... you can TANKUKU !! ".... ??...
??....
:im-so-happy:
I think there is a diff between re-pricing and re-financing
its when u sign u otp not bank loan
but to be really sure u r right better to make sure sign loan by tonight wahahaha
actually the guideline a bit dumb. when u sign OTP there's no fixed tenor with any banks yet wat. loans are only granted upon OTP submitted to the bank right
price. that will b me
yay me too, i got 1 40 1 50 actually :spliff:
fishy ... cna lik got two version lagi confusing
blackjack21trader
05-10-12, 20:30
It is like a string pulled at both ends. The opposing forces just stopped dead in their tracks ! Very good Ah Khaw and Tharman teamwork !
AH Khaw already stopped the bombardment from the foreigners by introducing CM4 on foreign buyers and small speculators. Tharman just taken out the BIG speculators.
Very wise move I say !This CM is a real fiscal CM, very effective as it targets at the loan instrument. It will help the middle class here and stabilise the price of property here for a longer time frame ! A very good CM indeed.
I advise all brothers seeking to upgrade to landed to wait for the CM to make its FULL EFFECT. The agent occupied landed will be given up first end 2012. Just watch:
3 million landed will need to topup at approx. $2million !
5 million will be approx $3million
and $7million will be approx S$5million !
How many centa millionaire here ?
Swee ARH ! I LOVE YOU THARMAN ! YOU ARE DOING THE RIGHT THING !
YOU ARE A GENIUS ! I have been HOLDING my breath until now I can finally let go a BIG SIGH OF RELIEF !!! THANK YOU ! !
神龙股侠。
NIL SINE LABORE !
"Better to illuminate than merely to shine, to deliver to
others contemplated truths than merely to contemplate."
— St. Thomas Aquinas
price. that will b me
uncle btw have u seen DP recently? miss him leh:hell-hath-no-fury: :hell-hath-no-fury:
blackjack21trader
05-10-12, 20:33
uncle btw have u seen DP recently? miss him leh:hell-hath-no-fury: :hell-hath-no-fury:
u miss him and dun miss me ? u just hurt my feelings leh :(
if loan tenure of 30yrs + age don't over shoot 65yrs....
1st housing loan: LTV 80%
2nd housing loan: LTV 60%
if loan tenure of 30yrs + age over shoot 65yrs....
1st housing loan: LTV 60%
2nd housing loan: LTV 40%
So you need to be less than 35yo to get a 29 yrs loan at LTV of 60% for 2nd property?
u miss him and dun miss me ? u just hurt my feelings leh :(
u have always been around ma BJ! :D :cheers5: :cheers5:
wow unemployment down 7.8% and non farm payroll rises coupled with new CM. turn of the tide coming soon?
It is like a string pulled at both ends. The opposing forces just stopped dead in their tracks ! Very good Ah Khaw and Tharman teamwork !
3 million landed will need to topup at approx. $2million !
5 million will be approx $3million
and $7million will be approx S$5million !
You staying in Bungalow why bother looking at landed in East Coast?
DP not happy with me. I dunno where he is
er, is this cm really so much impact? :rolleyes:
i thought banks used to lend u up to age 70, now 65 yr old, 5 yr different.
and 30 yrs loan is already quite long leh
price. otp guideline not dumb. frm exp all my bankers simply say Mr X .... what u wanna buy this time? just email me the otp I settle for u
tatty no impact to the normal conservatives.
many of us are not using condoms
I mean risk takers
er, is this cm really so much impact? :rolleyes:
i thought banks used to lend u up to age 70, now 65 yr old, 5 yr different.
and 30 yrs loan is already quite long leh
Yes becoz those affected will need to pay 60% down on new purchases. And the impact of this CM depends on the percentage of these 45% of all borrowers who loan > 30yrs are the old cashrich pple buying like no 2moro
Yes becoz those affected will need to pay 60% down on new purchases.
Or buy a smaller property
Or buy a smaller property
Yes but there is also a threshold.. now our units are already getting smaller n psf are already insanely high. There is a limit to how much the size can be reduced and also with the previous MM restriction outside central area. I hope developer now will finally wake their idea and not carrot head with large psf
Eventually, parents will buy properties under their children's name before they reach 30 years old. Save the ABSD, better LTV.
On top, properties with small quantum will be hot cakes.
This is good for younger generation.
In order to take the full 30 years loan,
buy property before 35 years old!
Thanks,
Richard
Laguna has astutely summed up the horizon outlook
Eventually, parents will buy properties under their children's name before they reach 30 years old. Save the ABSD, better LTV.
On top, properties with small quantum will be hot cakes.
Property is under your son's name.
Is the mortgage under your name or son's name?
because if mortgage is still under Laguna's name, then the only thing that is saved is the ABSD if using son's name. The mortgage will still use Laguna's credit profile.
Eventually, parents will buy properties under their children's name before they reach 30 years old. Save the ABSD, better LTV.
On top, properties with small quantum will be hot cakes.
Yes that's a loophole and I assume Tharman has look into this as well. But question is how many parents are rich enough to do so? If this figure is large enough, the new measure will definitely not work. And besides, it has to be fully under son's name rather than joint name
PropertyNewbie
05-10-12, 20:59
Wah Lao :banghead:
Like that means more and more people will get more cash rich.
Rich enough to have few hundred thousand liquid assets
but
Not rich enough to buy property.
Blue ball syndrome to affect more and more people :D
Cannot release ah....cham ah
Is the joint owner counting the younger owner?
If yes, how about old folks marry young spouse?
Thanks,
Richard
Yes becoz those affected will need to pay 60% down on new purchases.
but if they choose the shorter tenure, then still same LTV leh...
1m loan, 1.5% interest, installment increase by less than 1k.
35yr loan - 3,061.84
30yr loan - 3,451.20 +389
25yr loan - 3,999.36 +548
20yr loan - 4,825.45 +826
ikan bilis
05-10-12, 21:01
I think there is a diff between re-pricing and re-financing
what i mean is:
if your current loan stretched to say 75yr old... then you got little or no "muscles" to negotiate for a repricing to lower interest rate... bank will just simply ignore you... right ??...
AND... i'm stuck in that situation.... :(
Allthepies
05-10-12, 21:02
the more CM the merrier, means tat a big crash in prices becoming almost impossible, even a 10% drop is becoming less and less possible: )
auroraborealis
05-10-12, 21:02
"8* *Mr Tharman Shanmugaratnam, Chairman of MAS, said, “Monetary conditions worldwide are far from normal. QE3 and low interest rates have made credit easy, but this will eventually change. We are taking this step now to require more prudent lending, and will continue to watch the property market carefully. We will do what it takes to cool the market, and avoid a bubble that will eventually hurt borrowers and destabilise our financial system.”
WILL DO WHAT IT TAKES wor... ECB style... More to come if we dun hold our horses :doh:
the more CM the merrier, means tat a big crash in prices becoming almost impossible, even a 10% drop is becoming less and less possible: )
Er, please explain?
buttercarp
05-10-12, 21:04
Is the joint owner counting the younger owner?
If yes, how about old folks marry young spouse?
Thanks,
Richard
I assume it is based on the age of the older joint tenant or tenant in common.
Btw, dunno whether tenant in common counted as individual or not?
max loan tenure:
min (65-age, 35)
This is good for younger generation.
In order to take the full 35 years loan,
buy property before 30 years old!
Thanks,
Richard
ya max is 35 yrs...
But i put min(65-age, 30), because for loan tenure above 30 yrs, lower LTV will apply leh.
-------
10. In addition, MAS will lower the LTV ratio for new residential property loans to borrowers who are individuals, if:
the tenure exceeds 30 years; or
the loan period extends beyond the retirement age of 65 years. For these loans, the LTV limit will be:
40% for a borrower with one or more outstanding residential property loans3; and
60% for a borrower with no outstanding residential property loan.
In fact, HK was the first to come out with the lower LTV immediately after the QE3. Singapore worked so hard then just worked it out...
Singapore copied their SSD as well except with 1% higher than HK.
So what happen to HK market after the lowering of LTV, the prices UP again.
buttercarp
05-10-12, 21:08
If 3 friends buying same unit as tenant in common, then how?
Each may have different loan tenure.
Property is under your son's name.
Is the mortgage under your name or son's name?
because if mortgage is still under Laguna's name, then the only thing that is saved is the ABSD if using son's name. The mortgage will still use Laguna's credit profile.
No answer from me....
Yes but there is also a threshold.. now our units are already getting smaller n psf are already insanely high. There is a limit to how much the size can be reduced and also with the previous MM restriction outside central area. I hope developer now will finally wake their idea and not carrot head with large psf
small will not get smaller, but those who wanted to buy bigger unit might settle for something smaller instead.
In fact, HK was the first to come out with the lower LTV immediately after the QE3. Singapore worked so hard then just worked it out...
Singapore copied their SSD as well except with 1% higher than HK.
So what happen to HK market after the lowering of LTV, the prices UP again.
My guess is that buyers will continue to buy just that they will buy something smaller instead. Those big quantum units is going to get hit big time I reckon.
landed beware.
So 45% took up loans exceeding 30 years.
The question is will there be less buyers going forward.
If so, should price drop marginally?
but if they choose the shorter tenure, then still same LTV leh...
1m loan, 1.5% interest, installment increase by less than 1k.
35 3,061.84
30 3,451.20 +389
25 3,999.36 +548
20 4,825.45 +826
Yes that is assuming that if it remains at a low of 1.1-1.5%. Also I don't suppose any investors will buy without buffering higher interest rates i.e 3%. The difference will be even more significant in this scenario. I suspect the category of people who will be affected most are the cashrich group of people [those who can take only max 20-25 yrs] which will be more severely affected unless like what many said, buy under chewren's name
small will not get smaller, but those who wanted to buy bigger unit might settle for something smaller instead.
Yes I would assume that will be the trend going forward...
shoebox really resilient Grade AAA investment class
no matter what cm u throw at it it just shines even brighter.
shoebox really resilient Grade AAA investment class
no matter what cm u throw at it it just shines even brighter.
I SCREAM ICE-CREAM!!!
shuddap dtrax!!! :D
Okies.. I eating ice-cream now. Continue screaming at my ice-cream later
No answer from me....
you dont make it easy for me :)
Nah, it is just a technical question
ABSD is based on ownership, regardless whether it is fully paid or not.
So using son's name will save on ABSD.
Now LTV is based on credit profile. No mortgages, higher LTV.
So you mentioned before using ABL for the purchase of ECO.
So curious about the financing aspect.
Eg, loan is under your son's name, secured by a lien of your assets or by personal guarantee. Which in this case, higher LTV applies since the name on home mortgage document is your son.
Now if loan is under your name, then lower LTV applies, if more than 1 mortgages with your name.
my reading
1. for landed properties, usually buy by older (ie 40 and above), it will have some impact on it especially for ranges from $3m-6m. For those >$10m, money shall not be a problem.
2. If u want to buy under children's names and have the money, the first property has to be a big one, to have better LTV and saving ABSD.
3. As the supply of the small units will be much more, if ur buying for investment / rental, then buy those in the range of 1200 - 1400 sf, as supply is getting lesser and most expat with family prefers a bigger space. But don't go beyond $1.5m
Laguna son can easily find a job n get loan before disbursement.... but bank will need 3 (?) mths work income statement.
Eco won't finish foundation so soon.
Yes that is assuming that if it remains at a low of 1.1-1.5%. Also I don't suppose any investors will buy without buffering higher interest rates i.e 3%. The difference will be even more significant in this scenario. I suspect the category of people who will be affected most are the cashrich group of people [those who can take only max 20-25 yrs] which will be more severely affected unless like what many said, buy under chewren's name
Buy under children name only, which bank will lend money to your children whose income may not be high enough? Hard to get loan under your children name only.
Dun go beyond 1.5mil and yet 1400sf is almost impossible these days...
you dont make it easy for me :)
Nah, it is just a technical question
ABSD is based on ownership, regardless whether it is fully paid or not.
So using son's name will save on ABSD.
Now LTV is based on credit profile. No mortgages, higher LTV.
So you mentioned before using ABL for the purchase of ECO.
So curious about the financing aspect.
Eg, loan is under your son's name, secured by a lien of your assets or by personal guarantee. Which in this case, higher LTV applies since the name on home mortgage document is your son.
Now if loan is under your name, then lower LTV applies, if more than 1 mortgages with your name.
ur right and wrong at the same time.
Ur right as it is right way of doing and ur wrong as there is way to by-pass it.
see post #164. #169
so many answers alr
if children don't have the earning capacity, forcing a mortgage upon them will only crush them with the pressure.
Buy under children name only, which bank will lend money to your children whose income may not be high enough? Hard to get loan under your children name only.
I can help Laguna answer this question as I fall under this category. only uob works though. they allow assets under management loans. I deposits 110k cash, show them my option and once the loan is approved I could withdraw the cash for use. :)
PropertyNewbie
05-10-12, 21:30
OCR still best!
you dont make it easy for me :)
Nah, it is just a technical question
ABSD is based on ownership, regardless whether it is fully paid or not.
So using son's name will save on ABSD.
Now LTV is based on credit profile. No mortgages, higher LTV.
So you mentioned before using ABL for the purchase of ECO.
So curious about the financing aspect.
Eg, loan is under your son's name, secured by a lien of your assets or by personal guarantee. Which in this case, higher LTV applies since the name on home mortgage document is your son.
Now if loan is under your name, then lower LTV applies, if more than 1 mortgages with your name.
Aiyo, just talk to your banker or lawyer and u get the answer loh. People already say sensitive. But MAS will definitely look into this if there are more of such cases. They can track such cases.
Those old man with young wife couple will be badly affected.
Assuming he is 65 and wife 35. If the rule before was to take the younger, but now the older for the mortgage, the impact would be huge!
Or i intepretated wrongly?
ur right and wrong at the same time.
Ur right as it is right way of doing and ur wrong as there is way to by-pass it.
see post #164.
Thanks man ;).
If you say there is a way to bypass, then there is a way to bypass.
i just have to do my homework.
edited: aaargh, just saw post 164,169. Sometimes think too complicated.:o
if younger is working no reason to take older one what
Thanks man ;).
If you say there is a way to bypass, then there is a way to bypass.
i just have to do my homework.
edited: aaargh, just saw post 164,169. Sometimes think too complicated.:o
Do u know a simple life is a good life.
A simple meal is a good meal.
A simple wife is a good wife.
I can help Laguna answer this question as I fall under this category. only uob works though. they allow assets under management loans. I deposits 110k cash, show them my option and once the loan is approved I could withdraw the cash for use. :)
UOB now lower to 110k? My time was 200k, perhaps because i am foreigner.
Oh now I get it, deposit 200k into child's account, show it to UOB. UOB ok the loan, then child transfer money back to parent.
I am slow:o
1. Would we see a price correction? 10%, 20%?
2. Would we see more buying at at OCR?
3. Would we see less sellers for resale?
4. Would buyer go to resale or new launch? Or no effect?
UOB now lower to 110k? My time was 200k, perhaps because i am foreigner.
Oh now I get it, deposit 200k into child's account, show it to UOB. UOB ok the loan, then child transfer money back to parent.
I am slow:o
Bro, not like this lah, talk to your banker and u will know.
UOB now lower to 110k? My time was 200k, perhaps because i am foreigner.
Oh now I get it, deposit 200k into child's account, show it to UOB. UOB ok the loan, then child transfer money back to parent.
I am slow:o
HSBC too. U need min 200k and min deposit for 6mths. They can even grant up to 70-80% LTV for the home applicant that has no outstanding loan. Afterwhich you can withdraw the money for your own use
Bro, not like this lah, talk to your banker and u will know.
dont tell me the answer please. let me find out myself.
walking for the whole day, come back on the net still have to think so hard.
ok, my strategy for my son.
Bought first property at the age of 23, get the first housing loan and no ABSD. Sell the property after four years without SSD, then he is 28.
With the money he made, hopefully, buy another property (a bigger one for everyone to stay in) at the age of 29, no ABSD, and still can get LTV at 80%.
smart me.....
dont tell me the answer please. let me find out myself.
I won't, because people want it confidential. This has been going on since absd and it is not new.
dont tell me the answer please. let me find out myself.
hi friend, come back and share then
but don't PM me as I have enough from u...hahah
Sian x 10 :(
Just when I was looking to buy in again.
CNA:
"Analysts do not expect the government's latest measures to have a major impact.
HSR special advisor, Donald Han, said: "The buying would continue despite the recent measures because of liquidity and because of low interest rate environment. I think buyers are still active. I don't expect too much of a dent in the total volume sales. In terms of actual impact, I think ABSD (Additional Buyers' Stamp Duty) had a more earthquake-like (impact). These (latest measures) are more like a tremor."
Aiya, small tremor only. :D
CNA:
"Analysts do not expect the government's latest measures to have a major impact.
HSR special advisor, Donald Han, said: "The buying would continue despite the recent measures because of liquidity and because of low interest rate environment. I think buyers are still active. I don't expect too much of a dent in the total volume sales. In terms of actual impact, I think ABSD (Additional Buyers' Stamp Duty) had a more earthquake-like (impact). These (latest measures) are more like a tremor."
Aiya, small tremor only. :D
HSR...sure got vested interest lah!
but HK alr tell the story....
HSR...sure got vested interest lah!
but HK alr tell the story....
ABSD also can't cool the mkt. This CM can?
walking in HK for two days alr....
let me share the prices of HK new properties....HK island and Kowloon
http://property.hk.msn.com/new-property/
so Sg is still CHEAP as compare to HK..
that means...PRC is still coming...
Siao Liao i am F%^$#......going to spend rest of my life in HDB...:banghead::banghead::banghead:
UltimateAro888
05-10-12, 22:21
refinancing also affected
Isn't that a loop hole for banks to exploit for those who will be above 65 and loan period 35..LAN LAN stuck with same bank loan cannot refinance else fall into new scheme?
no cm will ever crash the mkt. cool.... depends on u definition. each person want.their vice served differently. some like it on the rocks. some like chilled. some like it not.stirred..
Siao Liao i am F%^$#......going to spend rest of my life in HDB...:banghead::banghead::banghead:
I don't understand why you :banghead:
:confused: :confused:
I tot u sold your pc and hoarding cash? Should not affect u wat?
seriously... if u age 65, retire from this madness and enjoy ba. still play wat.
bro radha. horizon hills still got many precinct.not launched
Siao Liao i am F%^$#......going to spend rest of my life in HDB...:banghead::banghead::banghead:
simple lah!
sell away your HDB, make money and buy again lor!
buttercarp
05-10-12, 22:27
If eg husband 50 years old, wife 30 years old.
Both buy as Tenants in common.
Can they apply for different loans to avoid the new changes?
Ie husband apply 15 year loan, wife apply 30 year loan?
buttercarp
05-10-12, 22:29
Siao Liao i am F%^$#......going to spend rest of my life in HDB...:banghead::banghead::banghead:
Or you wait for the 30 months to be up and apply for premium EC lor.
I never heard of one property can take two loans to service one
Siao Liao i am F%^$#......going to spend rest of my life in HDB...:banghead::banghead::banghead:
mai gan cheong... take ur time, enjoy life. Your time to buy will eventually come. Reno ur HDB nice nice n stay happy for the time being :)
siao liao....this measure is going to make youngsters cheong for ppty because if they wait and grow older, the restrictions will apply.
The threshold seems to be 35 yrs old:
Best case scenario is 35 yrs, take a 30 yr loan (with no o/s loan) then can still get 80% right? because the restrictive LTV of 40%/60% applies only if tenure of loan is >30 yrs.
Of coz, if you are old man and cash rich, then no worries.
HAPPY CHEWREN (eat human) DAY
or.chewren (求人)
With QE3 and CM, on net, how would prices move? Does it mean that those who just bought will now suck thumb and watch developers fire sell their units?
With QE3 and CM, on net, how would prices move? Does it mean that those who just bought will now suck thumb and watch developers fire sell their units?
Why would govt want to crash the market and put hundred and thousands of Singaporean that bought recently in trouble? ESP the bulk are BTO first timers looking for kids.
many banks already gave up to 70yo before this so 65 isn't too different really.
I don't understand why you :banghead:
:confused: :confused:
I tot u sold your pc and hoarding cash? Should not affect u wat?
i am almost 50 bro...i got one hdb fully paid...my plan to buy a 1 to 1.2 million condo...can loan for 30 years cos my wife a few years younger than me...my monthly mortgage about 3k plus...rent my hdb out at 2k plus...top up 1k a month pay my mortgage and live happily ever after....:cool:
BUT NOW how...:doh:...can i still loan 30 years??...and i DONT understand this rubbish about LTV...can i still pay 20% downpayment??
ANYBODY got tharman phone no...:D
bro radha. horizon hills still got many precinct.not launched
bro i going to stay back in HDB...cannot see any horizon...only cofeeshop..:D
Or you wait for the 30 months to be up and apply for premium EC lor.
...yummy like heron bay 5 bedder penthouse 2000 plus sq feet...:D
i am almost 50 bro...i got one hdb fully paid...my plan to buy a 1 to 1.2 million condo...can loan for 30 years cos my wife a few years younger than me...my monthly mortgage about 3k plus...rent my hdb out at 2k plus...top up 1k a month pay my mortgage and live happily ever after....:cool:
BUT NOW how...:doh:...can i still loan 30 years??...and i DONT understand this rubbish about LTV...can i still pay 20% downpayment??
ANYBODY got tharman phone no...:D
Haha u mean you dun know his number? Please note down in your phone and call 2moro:
Tharman: 63322717
simple lah!
sell away your HDB, make money and buy again lor!
yup like they say in the engineering world...back to the drawing board...:scared-1::D
those that sold or missed the boat and sitting on side lines waiting .... can plan for longer wait now.
:D :D :D wait long long the very long wahhahaha
Haha u mean you dun know his number? Please note down in your phone and call 2moro:
Tharman: 63322717
I suggest you call Kenobiwan first at: 69087111
Ask him whyyyyyyyyyyyyy like that?
many banks already gave up to 70yo before this so 65 isn't too different really.
But wouldn't the signalling effect alone be enough to dampen the market? The message from the govt is clear: It doesn't want prices to continue chionging at current rate, and may do more if neccessary to curtail demand. Under such an environment, wouldn't those waiting at the sidelines abandon their investment plans? Many developers boh bien will have to cut prices.
I am not Mr B, but I am kinda sian that the govt is implementing more demand-side measures even though upcoming supply is enough to flood the market.
Haha u mean you dun know his number? Please note down in your phone and call 2moro:
Tharman: 63322717
thanks bro....was hoping it is handphone no i wanted to sms him...:D...
"Dei...why dah u do this to me la"...:spliff:
Haha u mean you dun know his number? Please note down in your phone and call 2moro:
Tharman: 63322717Call his PA also good lah... though not direct number... Lol!
thanks bro....was hoping it is handphone no i wanted to sms him...:D...
"Dei...why dah u do this to me la"...:spliff:
Email lar:
[email protected]
You call his HP will divert one
this means property investment will increasingly become a game for the rich- the gap will widen even further
I suggest you call Kenobiwan first at: 69087111
Ask him whyyyyyyyyyyyyy like that?kenobiwan only say build more BTO and release more for one time sale to increase chances of getting jackpot for first timers, etc... but the crux of the problem is many couples want flats like soon. BTO can never ever address that problem... resale market sure can so prices are still soaring... QE3 not helping lah... this latest measure is nothing more than just a sneeze and then back to normal in no time!!! Soon people will find ways around this again! :doh:
mai gan cheong... take ur time, enjoy life. Your time to buy will eventually come. Reno ur HDB nice nice n stay happy for the time being :)
Yup my reno just completed cost slightly more than "stamp" duty for a 1 million dollar condo...:D...
Yup my reno just completed cost slightly more than "stamp" duty for a 1 million dollar condo...:D...Congrats man... :cheers5:
timmy... the government message had always been clear and consistent. but did you see prices or interest stalling after past cm.s?
I see your true colours shining through...
I see your true colours, and that's why I love you...
Congrats man... :cheers5:
ya bro now all i can do is dim the lights have a beer listen music and stare at the 4 walls of my hdb apt...:D
taking it all in perspective, govt had to do something even if just wayang as indicators already show relentless price increases and sales numbers.
regardless, you and I know the action will continue- people will buy.
ikan bilis
05-10-12, 23:06
i am almost 50 bro...i got one hdb fully paid...my plan to buy a 1 to 1.2 million condo...can loan for 30 years cos my wife a few years younger than me...my monthly mortgage about 3k plus...rent my hdb out at 2k plus...top up 1k a month pay my mortgage and live happily ever after....:cool:
BUT NOW how...:doh:...can i still loan 30 years??...and i DONT understand this rubbish about LTV...can i still pay 20% downpayment??
ANYBODY got tharman phone no...:D
800K loan, 17yrs, 1.5%.... S$4445/month... :(
960K loan, 17yrs, 1.5%.... S$5334/month... :(
Pikachu1245
05-10-12, 23:09
timmy... the government message had always been clear and consistent. but did you see prices or interest stalling after past cm.s?
Yup, the government has emphasised prudence (i.e. interest rate may go up eventually) especially for the middle class but not much people seem to be heeding.
Seems like this latest CM will immobilize the middle class from overcommiting. Though it seems to be a double edged sword, it may be a blessing in disguise :beats-me-man:
bro radha contentment is priceless
800K loan, 17yrs, 1.5%.... S$4445/month... :(
960K loan, 17yrs, 1.5%.... S$5334/month... :(
see the $$$...super sianz:(
see the $$$...super sianz:(
Bro, I remember you sold your pc, right? so hopefully u can down 40% and increase loan tenure.
All the best.
ikan bilis
05-10-12, 23:17
see the $$$...super sianz:(
umm... buy 1.2mil condo, stay in hdb, rent out condo at 4K... monthly cash top up still at S$1k+.... (pls don't kill me for this crap idea...:D )
CNA:
"Analysts do not expect the government's latest measures to have a major impact.
HSR special advisor, Donald Han, said: "The buying would continue despite the recent measures because of liquidity and because of low interest rate environment. I think buyers are still active. I don't expect too much of a dent in the total volume sales. In terms of actual impact, I think ABSD (Additional Buyers' Stamp Duty) had a more earthquake-like (impact). These (latest measures) are more like a tremor."
Aiya, small tremor only. :D
Despite all the posts, still do not quite understand the excitement about this new measure. Somehow tend to agree with this CNA quotation. The relative impact will not be great. People just need to pay more per month with a shorter loan tenure. Sure it may affect some but with median family income of 18k for condo buyers, most are unlikely to be affected.
Fixing LTV at 40% for all loans and for all buyers (locals for 2nd property) with no conditions attached will be of greater impact.
Bro, I remember you sold your pc, right? so hopefully u can down 40% and increase loan tenure.
All the best.
yup what to do...we the citizen of singapore must follow govt law...:(
I suggest you call Kenobiwan first at: 69087111
Ask him whyyyyyyyyyyyyy like that?
"Always two there are -- a master and an apprentice."
umm... buy 1.2mil condo, stay in hdb, rent out condo at 4K... monthly cash top up still at S$1k+.... (pls don't kill me for this crap idea...:D )
ha ha...u see even though govt come out CM..we the CITIZEN of condo forum got many pattern to play...:spliff::D
Despite all the posts, still do not quite understand the excitement about this new measure. Somehow tend to agree with this CNA quotation. The relative impact will not be great. People just need to pay more per month with a shorter loan tenure. Sure it may affect some but with median family income of 18k for condo buyers, most are unlikely to be affected.
Fixing LTV at 40% for all loans and for all buyers (locals for 2nd property) with no conditions attached will be of greater impact.
yup no issue...we the citizen of singapore will buy condo and eat grass for lunch dinner and breakfast...:D:D:D
bro radha contentment is priceless
yes bro thats the way i felt drinking wine on a cool evening in the garden of my rented semi-d at frankel....:spliff2:
now drinking beer at hdb cofeeshop trying to feel contended...but beer make u full la...maybe i should drink wine at cofeeshop...:D:D:D
I can help Laguna answer this question as I fall under this category. only uob works though. they allow assets under management loans. I deposits 110k cash, show them my option and once the loan is approved I could withdraw the cash for use. :)
Uob is not the only one
If eg husband 50 years old, wife 30 years old.
Both buy as Tenants in common.
Can they apply for different loans to avoid the new changes?
Ie husband apply 15 year loan, wife apply 30 year loan?
If Both are Borrowers of same property, higher tenure applies
Uob is not the only one
well the last time I bought my units they were the only one who could lend me without looking at my salary
so who's down at the showroom making last minute purchases for 5th October 2012? lol.
so who's down at the showroom making last minute purchases for 5th October 2012? lol.
GAME OVER....its 6oct:cool:
GAME OVER....its 6oct:cool:
they commit at 23:59:59, OTP generated at 5 October, now they are reading the Terms and Conditions before signing on the dotted line. hypothetical scenario that is.
they commit at 23:59:59, OTP generated at 5 October, now they are reading the Terms and Conditions before signing on the dotted line. hypothetical scenario that is.
haha....think i will :sleep: over it...
haha....think i will :sleep: over it...
and perhaps some are falling asleep reading the Ts and Cs at this hour at the showroom. then after signing go for late night supper.
phantom_opera
06-10-12, 00:40
summary of this thread
as usual CCR/landed low end hardest hit ... can say good bye to SH, PH and TH
as usual shoebox and 1br never die
at OCR developers will launch 2br compact and 3br compact
but animal spirit will return ... Singkapoorean never say die
Pikachu1245
06-10-12, 00:49
they commit at 23:59:59, OTP generated at 5 October, now they are reading the Terms and Conditions before signing on the dotted line. hypothetical scenario that is.
If there is a will, there is a way
lol :spliff:
More CM means prices will not crash. Can adjust to provide floor.
But it will be more difficult to make a quick bucks. For own stay still tenable.
phantom_opera
06-10-12, 00:57
More CM means prices will not crash. Can adjust to provide floor.
But it will be more difficult to make a quick bucks. For own stay still tenable.
MM can still make quick buck ... but quick as in 4y and less leverage :cool:
summary of this thread
as usual CCR/landed low end hardest hit ... can say good bye to SH, PH and TH
as usual shoebox and 1br never die
at OCR developers will launch 2br compact and 3br compact
but animal spirit will return ... Singkapoorean never say die
Yeps, my 1st thought is that developers will start to launch 2br and 3br compact, since they can't build too many MMs due to the last measure while big units with high quantum won't sell well. With lesser big units means lesser MMs too .... Now, 2br is going to flood the OCR market
phantom_opera
06-10-12, 01:00
new high at HK, 2% above last month ... lower LTV does not change anything there
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