View Full Version : Loopholes in cm
I am sure there are people like me who thinks a cooler property market is good for the country or myself.
Instead of posting posting bad news articles, I think a more effective way is to highlight loopholes in the cooling measures to the authorities.
I have highlighted to mas about the latest cm being based on the youngest borrower age by banks. Hopefully, they will fix this to the borrowers with the highest income.
Is there any other loopholes like the 2nd property loan ltv?
"the latest cm being based on the youngest borrower age"
The unintended consequence of policy:
mistress rate will have a sharp increase:
An old man can buy much bigger unit if he linked his name with a young lady (unlikely his old wife);
A young lady without paying any down payment can now have a share in a nice property, and start to collect rental.
This is truly win-win.
Even if it started as an innocent pure business joint venture, the development is anyone's guess.
Thanks,
Richard
An old man can buy much bigger unit if he linked his name with a young lady (unlikely his old wife);
A young lady without paying any down payment can now have a share in a nice property, and start to collect rental.
This is truly win-win.
Thanks
Richard
This is a loophole for PRC mistresses to run road with the old man's CPF. Could be a win-lose situation too. :):)
wow! Quickly setup a business and make big bucks in this semi-dead property market.
If the government can setup casinos for money, let's copycat and ignore the moral bar.
By the way, 10% of the profit will be donated to Helping groups to consult the broken families. I am very sure we can easily find a long list of volunteers in this forum to form the consulting groups. (That completes the full copycat, and we are back to moral high ground!).
Thanks,
Richard
I am sure there are people like me who thinks a cooler property market is good for the country or myself.
Instead of posting posting bad news articles, I think a more effective way is to highlight loopholes in the cooling measures to the authorities.
I have highlighted to mas about the latest cm being based on the youngest borrower age by banks. Hopefully, they will fix this to the borrowers with the highest income.
Is there any other loopholes like the 2nd property loan ltv?
hhahahaha very altruistic indeed.......country first or you?
I am sure there are people like me who thinks a cooler property market is good for the country or myself.
Instead of posting posting bad news articles, I think a more effective way is to highlight loopholes in the cooling measures to the authorities.
I have highlighted to mas about the latest cm being based on the youngest borrower age by banks. Hopefully, they will fix this to the borrowers with the highest income.
Is there any other loopholes like the 2nd property loan ltv?
You are one of the whistle-blower.
This is a loophole for PRC mistresses to run road with the old man's CPF. Could be a win-lose situation too. :):)
Sample Ads in Singapore:
- Want to double your rental income without paying a single cent more?
- Plus a young lady at your service!!!
- Call now if you are 65+ (or close to that age).
The flip side of the ads in PRC:
- Want to marry a rich man in Singapore?
- A beautiful home is waiting for you at the Garden City
- Age 21 - 35, pleasant looking.
- Simple conversational English is preferred, Hokkan or Cantonese a plus
- Click here to sign up with recent photos and/or videos
I am sure there are people like me who thinks a cooler property market is good for the country or myself.
Instead of posting posting bad news articles, I think a more effective way is to highlight loopholes in the cooling measures to the authorities.
I have highlighted to mas about the latest cm being based on the youngest borrower age by banks. Hopefully, they will fix this to the borrowers with the highest income.
Is there any other loopholes like the 2nd property loan ltv?
Wrong place! Here are all bulls.
Whatever the CM, there will be loophole some how or rather. But like what one of the bro here says, the CM should be directed more towards the HDB market rather than the private because eventually, we are talking about affordability for public housing. CM directed to Private market would have a negative impact towards our economy and the investment sentiment here. If there is really a lot of liquidity in the market here and we stop or prevent them here, then it will only get them to invest elsewhere....as the saying goes, don't let the fat water out of your farm...😃
We should keep the money here...😉
I am sure there are people like me who thinks a cooler property market is good for the country or myself.
Instead of posting posting bad news articles, I think a more effective way is to highlight loopholes in the cooling measures to the authorities.
I have highlighted to mas about the latest cm being based on the youngest borrower age by banks. Hopefully, they will fix this to the borrowers with the highest income.
Is there any other loopholes like the 2nd property loan ltv?
There maybe a loop hole for those who are cash rich & do not wish to put large amount of cash into resale property purchase.
Let say you intend to buy $2m property. U need to come out $1.2M (LTV 40%) cash base on the latest CM instead of $400k (LTV 80%) cash .
Nego with bank to allow U to drawdown of let say $600k cash under "EQUITY LOAN". U can use the 600k cash to invest in stock, unut trust, bond etc. U can try to ask the bank whether they allow it. If U have little knowledge of investment. Better stay out of "EQUITY LOAN" scheme. U may bring disaster to your family if your investment goes wrong through ignorant or GREED.
rdgs,
Vic
Allthepies
04-11-12, 10:01
The greatest loophole is to allow non citizens (including PR) to buy HDBs while rejecting rightful citizens to buy HDBs. Why Citizens with private can't share in the nation success while PR r given the full benefits? Please help feedback:D :D thks thks!
The greatest loophole is to allow non citizens (including PR) to buy HDBs while rejecting rightful citizens to buy HDBs. Why Citizens with private can't share in the nation success while PR r given the full benefits? Please help feedback:D :D thks thks!
Bro, u serious u don't know why? Or u just upset?
;)
The greatest loophole is to allow non citizens (including PR) to buy HDBs while rejecting rightful citizens to buy HDBs. Why Citizens with private can't share in the nation success while PR r given the full benefits? Please help feedback:D :D thks thks!
having bought my hdb flat more than 10 years ago back then i dont really feel the way you do now...cos understandbly the situation was very much different then...but one thing that has NOT changed since then is that when it comes to hdb flats there are all kinds of laws for good or bad...:confused:...i dunno but what i can say some will be happy some will be sad...:cool:
You are one of the whistle-blower.
haha, blow away the FV dream and the 90% LTV dream
Allthepies
04-11-12, 10:13
Bro, u serious u don't know why? Or u just upset?
;)
Aiya I know the reasons la bro :D :D
Tat why the CMs have loop holes and only target certain group of people for the good of the majority of Singaporeans.
All policies are meant to benefits as large the number of people as possible. No choice.
I think we have already seen this happening. Parent buying properties for and under their kids names.
Using a younger partner to lower the age cap etc.
This CM is not effective in errrr... cooling.
The last few CMs has been targeting private properties. IMO CM should be on the HDB instead. HDB is the root of our escalating price problems, not private.
You control HDB prices, you control MM condo prices. Mid and prime IMO is not really a concern for the masses and i don't think ours are overheating anyway.
I believe next CM will address this. Possibly by completely restricting HDB owner from buying private. Meaning you must sell your HDB if you buy private. A time bar before new PR are allow to buy resale HDB (30mths).
What it does to the market.
1. Increase supply of HDB units in the market.
2. Prevent rich foreigners applying PR just to buy HDB for investment. Thus reduce demand.
Aiya I know the reasons la bro :D :D
Tat why the CMs have loop holes and only target certain group of people for the good of the majority of Singaporeans.
Bro, I know u know the cm part. I referring to your statement on pr buying hdb. U know the reason rite?
Allthepies
04-11-12, 10:23
Bro, I know u know the cm part. I referring to your statement on pr buying hdb. U know the reason rite?
Yes chestnut bro, I know the reason too.
Yes chestnut bro, I know the reason too.
Cool, cool.
I believe in free market. Today, I feel whenever there is any problem, who do we call? Nope, not ghost busters. The govt.
Price too high, govt need to solve. Price drop, aiya, govt, what are doing?
I am sure there are people like me who thinks a cooler property market is good for the country or myself.
Instead of posting posting bad news articles, I think a more effective way is to highlight loopholes in the cooling measures to the authorities.
I have highlighted to mas about the latest cm being based on the youngest borrower age by banks. Hopefully, they will fix this to the borrowers with the highest income.
Is there any other loopholes like the 2nd property loan ltv?
its not a loophole its to encourage people to get hitch young! or a rich man with young wife .. easier to pro create!
if u want to a iron clan CM write to MAS nationalize the whole country. or issure a shoot on sight order for all who buy property. out law all transaction.
but then u cant buy cheap too hah hah. :cheers5: :cheers5: :cheers5: :cheers5:
The greatest loophole is to allow non citizens (including PR) to buy HDBs while rejecting rightful citizens to buy HDBs. Why Citizens with private can't share in the nation success while PR r given the full benefits? Please help feedback:D :D thks thks!
common PR only a small %. biggest loop hole is if tats is in this case is allow public housing to be a form of assest. Should run public like public service. let it be run down and slum like malaysia or hongkong.
then there is no value for HDB property then pple will not all rush to buy ! no demand no increase in price!!!
isnt that all what everyone want cheap housing.. and CHEAP come with CHEAP standards.
but then all will complain again.. we all like to complain.. n complain n complain. blame n blame... yada yada yada
Bro, I know u know the cm part. I referring to your statement on pr buying hdb. U know the reason rite?
I dunno the reason. Is it that if only locals can buy, the price will never appreciate? Nother is to encouage the PR to contribute to population growth via having babies....? Thirdly is to suck up the last time excess units?
common PR only a small %. biggest loop hole is if tats is in this case is allow public housing to be a form of assest. Should run public like public service. let it be run down and slum like malaysia or hongkong.
then there is no value for HDB property then pple will not all rush to buy ! no demand no increase in price!!!
isnt that all what everyone want cheap housing.. and CHEAP come with CHEAP standards.
but then all will complain again.. we all like to complain.. n complain n complain. blame n blame... yada yada yada
Time when they all came
Partake in this property game
Prices shoot to fame
People start to blame
Big bro tries to tame
Buying continues without shame
All are crying lame
Things are still the same
Allthepies
04-11-12, 12:17
I dunno the reason. Is it that if only locals can buy, the price will never appreciate? Nother is to encouage the PR to contribute to population growth via having babies....? Thirdly is to suck up the last time excess units?
my take is to root them, and to enhance HDB value... i may be wrong... :2cents:
I am wondering, if I sell my place and buy 2 houses at the same time, can I take 80% for both houses?
I am wondering, if I sell my place and buy 2 houses at the same time, can I take 80% for both houses?
Bro, I strongly u suggest u rethink. If interest rate hit 5%, how u service? Talk to your friends. Just joking la.....:D :D
I am wondering, if I sell my place and buy 2 houses at the same time, can I take 80% for both houses?
...so the true reason is out....u missed MBT.....hahah... and I thought you are complaining about loopholes....trying to loop yourself with 2 at the same time????
...so the true reason is out....u missed MBT.....hahah... and I thought you are complaining about loopholes....trying to loop yourself with 2 at the same time????
duh.... I thought it is obvious that the statement is hypothetical given the title of this thread...
If that is a loophole, it should be pretty easy to close. Although it is hard for the banks to check when you take two loans at the same time, it is easy to find out later. MAS could do checks on borrowers and find people with more than 1 80% loans after the CM was implemented. Just catch and fine 1-2 people big time and everyone will stay in line.
duh.... I thought it is obvious that the statement is hypothetical given the title of this thread...
If that is a loophole, it should be pretty easy to close. Although it is hard for the banks to check when you take two loans at the same time, it is easy to find out later. MAS could do checks on borrowers and find people with more than 1 80% loans after the CM was implemented. Just catch and fine 1-2 people big time and everyone will stay in line.
...duh duh.....the grapes is sweet if you pick it right....just have to be patient.
Isn't the biggest loop hole of all time is to impose 60% LTV or even 40% LTV but does not affect new launch buyers since they have 2-3 years grace period before even paying up the 40% or 60% cash? :rolleyes:
I am sure there are people like me who thinks a cooler property market is good for the country or myself.
Instead of posting posting bad news articles, I think a more effective way is to highlight loopholes in the cooling measures to the authorities.
I have highlighted to mas about the latest cm being based on the youngest borrower age by banks. Hopefully, they will fix this to the borrowers with the highest income.
Is there any other loopholes like the 2nd property loan ltv?
Just to understand how this this work, say a older guy (who earns more) buys a house with a young wife, the younger wife is able to get the 80% loan, but wouldn't the amount of loan that the bank will give be based on the wife's income which is lower?
buttercarp
04-11-12, 20:48
Just to understand how this this work, say a older guy (who earns more) buys a house with a young wife, the younger wife is able to get the 80% loan, but wouldn't the amount of loan that the bank will give be based on the wife's income which is lower?
No, as long as the borrower can proof that she can pay up the loan, and in this case is her husband plus herself. There is no hard and fast rule for this, so it is up to the bank to approve of it.
upz for my thread. At least the MAS fixed it after 7 months...
upz for my thread. At least the MAS fixed it after 7 months...
So u would like to point out things to lower the prices of properties in Singapore when mor than 85% of the population own properties?
Why not start by posting the list of problems with your current property so that the price can be lowered?
Or are u a owner at Centris or Parc Whatever? If so, no need post, your neighbor already helped u... Prices wil decline quite soon ...
In English, they call this 'shoot yourself in the foot', in Chinese they call you 'Eat inside crawl outside', maybe you can watch Wu Jian Dao again and again ...
DKSG
upz for my thread. At least the MAS fixed it after 7 months...
as long as there are sold out properties within few days weeks and mad ques at new launch they will continue to fix things:doh:
So u would like to point out things to lower the prices of properties in Singapore when mor than 85% of the population own properties?
Why not start by posting the list of problems with your current property so that the price can be lowered?
Or are u a owner at Centris or Parc Whatever? If so, no need post, your neighbor already helped u... Prices wil decline quite soon ...
In English, they call this 'shoot yourself in the foot', in Chinese they call you 'Eat inside crawl outside', maybe you can watch Wu Jian Dao again and again ...
DKSG
This is the stupid reasoning that the HDB director tried to sell us in the recent Singapore Conversation on Housing I been to.
That idiot say remember 80% of people own HDB housing so they want their Value of HDB to stay or go up.
At the end of the day, the survey showed that more than half wanted it to go down, in spite that many of us own HDB. COMMON SENSE.
You want housing prices to go down if you are thinking of upgrading or getting more property.
You want housing prices to go up if you are thinking of downgrading or cashing out.
You don't give a damn about prices of you are intending to stay put.
Simple logic but at the end of the day, I think even the dim HDB director got the logic.
good lah. We should report out all the Loopholes in CMs in this thread so MAS can come in and read :)
good lah. We should report out all the Loopholes in CMs in this thread so MAS can come in and read :)
It wont make you rich buy doing this actually. In life it is always about taking risk and finding ways to make money instead of being a yes man.
It wont make you rich buy doing this actually. In life it is always about taking risk and finding ways to make money instead of being a yes man.
ya lar. u also can say risk... now only got gains. waiting for the other half of risk to appear.. see how many people here up lorry
Secretariat
29-06-13, 10:26
upz for my thread. At least the MAS fixed it after 7 months...
Dear Wind,
You raised it with MAS? Nice one indeed.
Cheers!
Dear Wind,
You raised it with MAS? Nice one indeed.
Cheers!
frankly time is the essence. i thought they should have gotten it right the first time round. fixing it 7 months later...
Powered by vBulletin® Version 4.2.2 Copyright © 2024 vBulletin Solutions, Inc. All rights reserved.