Singapore takes new steps to cool housing market

**Ringo33** · 05-10-12, 19:02

Originally Posted by carbuncle

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....

PN · 05-10-12, 19:05

Originally Posted by buttercarp

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

Originally Posted by phantom_opera

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.

**carbuncle** · 05-10-12, 19:08

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

Originally Posted by ikan bilis

"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....

**carbuncle** · 05-10-12, 19:10

refinancing only.affected.by the 35yr cap. not the ltv changes

**howgozit** · 05-10-12, 19:11

MAS should have done this earlier.

**buttercarp** · 05-10-12, 19:12

Originally Posted by ikan bilis

hahaha.... you have to be <35yr old else tio toto/4d liow....

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.......

.

**carbuncle** · 05-10-12, 19:12

why only single? joint or multiple borrowers, the age of the youngest person is used as gauge

PN · 05-10-12, 19:13

Originally Posted by auroraborealis

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.

**dtrax** · 05-10-12, 19:14

Originally Posted by ikan bilis

"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....

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

Originally Posted by auroraborealis

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

**ikan bilis** · 05-10-12, 19:15

Originally Posted by auroraborealis

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....

**Ringo33** · 05-10-12, 19:15

Originally Posted by carbuncle

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.

**carbuncle** · 05-10-12, 19:15

can always not exercise otp

**phantom_opera** · 05-10-12, 19:17

Originally Posted by Ringo33

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

Originally Posted by carbuncle

can always not exercise otp

**dtrax** · 05-10-12, 19:18

http://www.mas.gov.sg/en/News-and-Pu...roperties.aspx

**carbuncle** · 05-10-12, 19:19

"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/stori...229731/1/.html

**carbuncle** · 05-10-12, 19:20

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

Originally Posted by buttercarp

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.......

.

ummm... tomorrow quickly go beg developer to change from ph to 2bdr ??...

**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

Originally Posted by dtrax

http://www.mas.gov.sg/en/News-and-Pu...roperties.aspx

**carbuncle** · 05-10-12, 19:22

this cm is power.

butter sis use the word suffocated.

I will say more like immobilized.

**buttercarp** · 05-10-12, 19:22

Originally Posted by carbuncle

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.

PN · 05-10-12, 19:22

Originally Posted by carbuncle

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.

**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

Set liao, I will buy one more property to take advantage

No sweat, just borrow 25y at 60% LTV

Anybody want to beg me to take over his unit at 20% discount

**buttercarp** · 05-10-12, 19:23

Originally Posted by carbuncle

this cm is power.

butter sis use the word suffocated.

I will say more like immobilized.

Immobilized is worse than dead.

**Laguna** · 05-10-12, 19:23

In other words, must buy properties before the age of 30 and get 30 years loan...

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