edvanlee
14-02-14, 09:39
With immediate effect, the exemptions to the Total Debt Servicing Ratio (TDSR) threshold will be extended to the following groups:
1) A borrower who bought a residential property before TDSR was introduced (those who signed the OTP before 29 June 2013) and will be occupying the residential unit that is being refinanced. However, the borrower must not own other properties or have outstanding property loans.
2) The Mortgage Servicing Ratio (MSR) will not be applicable to refinancing loans for HDB and Executive Condominiums that are owner-occupied and purchased before introduction of the MSR.
3) Residential properties that were purchased before the implementation dates for the loan tenure limits will be allowed to maintain the remaining tenures of their loans at the point of refinancing.
The TDSR will continue to apply for all investment properties.
For more information, please visit http://www.mas.gov.sg/news-and-publications/press-releases/2014/mas-broadens-exemption-from-tsdr-threshold.aspx
more info for other property news
singnewhomes.com
1) A borrower who bought a residential property before TDSR was introduced (those who signed the OTP before 29 June 2013) and will be occupying the residential unit that is being refinanced. However, the borrower must not own other properties or have outstanding property loans.
2) The Mortgage Servicing Ratio (MSR) will not be applicable to refinancing loans for HDB and Executive Condominiums that are owner-occupied and purchased before introduction of the MSR.
3) Residential properties that were purchased before the implementation dates for the loan tenure limits will be allowed to maintain the remaining tenures of their loans at the point of refinancing.
The TDSR will continue to apply for all investment properties.
For more information, please visit http://www.mas.gov.sg/news-and-publications/press-releases/2014/mas-broadens-exemption-from-tsdr-threshold.aspx
more info for other property news
singnewhomes.com