Page 1 of 2 12 LastLast
Results 1 to 30 of 41

Thread: Loopholes in cm

  1. #1
    Join Date
    May 2009
    Posts
    616

    Default 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?

  2. #2
    Join Date
    Jul 2009
    Posts
    1,823

    Default

    "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
    Last edited by richwang; 04-11-12 at 08:11.

  3. #3
    Join Date
    Jan 2012
    Posts
    131

    Default

    Quote Originally Posted by richwang

    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.

  4. #4
    Join Date
    Jul 2009
    Posts
    1,823

    Default

    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

  5. #5
    Join Date
    Apr 2011
    Posts
    979

    Default

    Quote Originally Posted by wind30
    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?

  6. #6
    Join Date
    Jun 2009
    Posts
    2,511

    Default

    Quote Originally Posted by wind30
    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.

  7. #7
    Join Date
    Jul 2009
    Posts
    1,823

    Default

    Quote Originally Posted by Mr.Keh
    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

  8. #8
    Join Date
    Jun 2010
    Posts
    1,140

    Default

    Quote Originally Posted by wind30
    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.

  9. #9
    Join Date
    Apr 2012
    Posts
    1,295

    Default

    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...😉

  10. #10
    Join Date
    Jan 2011
    Posts
    1,081

    Default

    Quote Originally Posted by wind30
    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

  11. #11
    Join Date
    Jan 2009
    Posts
    2,141

    Default

    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 thks thks!

  12. #12
    Join Date
    Nov 2008
    Posts
    3,812

    Default

    Quote Originally Posted by Allthepies
    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 thks thks!
    Bro, u serious u don't know why? Or u just upset?


  13. #13
    Join Date
    Jun 2011
    Posts
    6,134

    Default

    Quote Originally Posted by Allthepies
    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 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......i dunno but what i can say some will be happy some will be sad...

  14. #14
    Join Date
    Aug 2009
    Posts
    3,943

    Default

    Quote Originally Posted by yowetan
    You are one of the whistle-blower.
    haha, blow away the FV dream and the 90% LTV dream

  15. #15
    Join Date
    Jan 2009
    Posts
    2,141

    Default

    Quote Originally Posted by chestnut
    Bro, u serious u don't know why? Or u just upset?

    Aiya I know the reasons la bro

    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.

  16. #16
    Join Date
    May 2008
    Posts
    177

    Default

    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.
    Last edited by AK47; 04-11-12 at 11:22.

  17. #17
    Join Date
    Nov 2008
    Posts
    3,812

    Default

    Quote Originally Posted by Allthepies
    Aiya I know the reasons la bro

    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?

  18. #18
    Join Date
    Jan 2009
    Posts
    2,141

    Default

    Quote Originally Posted by chestnut
    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.

  19. #19
    Join Date
    Nov 2008
    Posts
    3,812

    Default

    Quote Originally Posted by Allthepies
    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?

  20. #20
    Join Date
    Mar 2009
    Posts
    6,134

    Default

    Quote Originally Posted by wind30
    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.

  21. #21
    Join Date
    Mar 2009
    Posts
    6,134

    Default

    Quote Originally Posted by Allthepies
    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 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

  22. #22
    Join Date
    Mar 2012
    Posts
    4,990

    Default

    Quote Originally Posted by chestnut
    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?

  23. #23
    Join Date
    Mar 2012
    Posts
    4,990

    Default

    Quote Originally Posted by minority
    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

  24. #24
    Join Date
    Jan 2009
    Posts
    2,141

    Default

    Quote Originally Posted by carbuncle
    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...

  25. #25
    Join Date
    May 2009
    Posts
    616

    Default

    I am wondering, if I sell my place and buy 2 houses at the same time, can I take 80% for both houses?

  26. #26
    Join Date
    Nov 2008
    Posts
    3,812

    Default

    Quote Originally Posted by wind30
    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.....

  27. #27
    Join Date
    Apr 2011
    Posts
    979

    Default

    Quote Originally Posted by wind30
    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????

  28. #28
    Join Date
    May 2009
    Posts
    616

    Default

    Quote Originally Posted by danntbt
    ...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.

  29. #29
    Join Date
    Apr 2011
    Posts
    979

    Default

    Quote Originally Posted by wind30
    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.

  30. #30
    teddybear's Avatar
    teddybear is offline Global recession is coming....
    Join Date
    Mar 2009
    Posts
    10,800

    Default

    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?

    Quote Originally Posted by wind30
    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?

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •