New Cooling Measures

[Kelonguni]

Since TDSR include into housing, cars and other personal loan

I am just wondering if it one can get around it by applying housing loan first, then follow by car loan, since this new regulation only applies to buying property and not car.

Affect re-financing also. The main idea is prudence and not to over-stretch, which a growing pool is doing.

[狮子王]

Of if you already have a car loan, then pay up the car loan first with maybe say $20k and qualify for a further $200k of housing loan since car loan may last max 10 years of high monthly commitment while housing loan can last 35 years of smaller monthly mortgage commitment?

Thanks Ringo33 for the useful tip...

Car loan is a very important aspect of my life. My car used to meet my business friends (some are MPs ) will cost me in the region of around S$550,000 to S$630,000. With this new car loan regulation, I may not be able to buy the car within this class anymore ; because have to top up more than S$250,000 which I rather use to pay for my housing loans instead.

As a result, I forsee having a hard time telling lies to my business friends why I will be downgrading my car class in about 3 years' time

[mcmlxxvi]

Just to share, HK banks used to do stress testing of the ability of applicants to repay loans assuming mortgage rate increase of 2%, earlier this year, HK Monetary Authority require them to assume mortgage rate increase of 3%.

So it is likely that Singapore banks have already been using interest rates of around 3.5% to stress test the ability to repay loans. However, more confirmations are needed from those who had insights of their previous practices.

2 to 3 yrs back my banker told me they base on 4 to 5% int rate internally when assessing.

[狮子王]

Car loan is a very important aspect of my life. My car used to meet my business friends (some are MPs ) will cost me in the region of around S$550,000 to S$630,000. With this new car loan regulation, I may not be able to buy the car within this class anymore ; because have to top up more than S$250,000 which I rather use to pay for my housing loans instead.

As a result, I forsee having a hard time telling lies to my business friends why I will be downgrading my car class in about 3 years' time

Billionaire does not mean must spend S$250,000 cold hard cash on a car, tiobo

This car loan issue is giving me a headache and sleepless nights.

[mcmlxxvi]

I think they also want to firmly regulate those banks where you still can loan without income based on AUM and there are still a couple of big banks that still does that even during the last few months. So this new ruling such practices can no longer be carried out anymore

Ah thx. I missed out this part. Yep for those who just show i got 1mil deposit in your bank so give me a mortgage loan type.

[狮子王]

Billionaire does not mean must spend S$250,000 cold hard cash on a car, tiobo

This car loan issue is giving me a headache and sleepless nights.

If I downgrade from my present business car from S-Class to a E-Class, my business friends might think I am not doing well in my business leh. I told them before the car loan regulation I was going to upgrade to a Bentley. Now you ask me how to cover my face leh

If I buy Bentley, I have to come up with half a million cash. Billionaires got so much cash meh? Net worth all in company stocks , bonus and property mah.. director fee is peanuts at S$50,000 only la .

WAHLAUEH ! SIBEI 丢脸 arh this time.

[mcmlxxvi]

Since TDSR include into housing, cars and other personal loan

I am just wondering if it one can get around it by applying housing loan first, then follow by car loan, since this new regulation only applies to buying property and not car.

In that case unintended side effect of even high property takeup could happen.

Because most rather forego other aspirations like cars, holidays, marriage, further education, reno of existing home etc to get that home loan first.

[狮子王]

If I downgrade from my present business car from S-Class to a E-Class, my business friends might think I am not doing well in my business leh. I told them before the car loan regulation I was going to upgrade to a Bentley. Now you ask me how to cover my face leh

If I buy Bentley, I have to come up with half a million cash. Billionaires got so much cash meh? Net worth all in company stocks , bonus and property mah.. director fee is peanuts at S$50,000 only la .

WAHLAUEH ! SIBEI 丢脸 arh this time.

Car loan is more important than property loans for me leh

[狮子王]

Car loan is more important than property loans for me leh

Before the new car loan regulation, I still can keep 1 lambo, 1 AMG and 1 S-class.

WAHLAUEH ! Now I can keep only 1 E-CLASS niah.....SIBEH 丢脸 arh this time.

[狮子王]

Before the new car loan regulation, I still can keep 1 lambo, 1 AMG and 1 S-class.

WAHLAUEH ! Now I can keep only 1 E-CLASS niah.....SIBEH 丢脸 arh this time.

My director fee is SIBEH peanuts niah, only S$600,000 a year. No where near some of my peers leh.....SIBEH 丢脸 arh this time. Have to sell houses, sell cars......WAHLAUEH !

[狮子王]

My director fee is SIBEH peanuts niah, only S$600,000 a year. No where near some of my peers leh.....SIBEH 丢脸 arh this time. Have to sell houses, sell cars......WAHLAUEH !

When I first left campus 20 years ago, my salary way way ahead of my peers. I never think they can ever catch up with me. But at the rate they are earning, NABEH in 3 years time, I have to sell my bungalows to them liao la.....


SIBEH 丢脸 arh this time.....

[狮子王]

When I first left campus 20 years ago, my salary way way ahead of my peers. I never think they can ever catch up with me. But at the rate they are earning, NABEH in 3 years time, I have to sell my bungalows to them liao la.....


SIBEH 丢脸 arh this time.....

The worse is after selling cars and houses, I cannot upgrade. My business partners sure wonder how come my car park so empty la and my property portfolio shrink size la.

SIBEH 丢脸 arh this time

[狮子王]

The worse is after selling cars and houses, I cannot upgrade. My business partners sure wonder how come my car park so empty la and my property portfolio shrink size la.

SIBEH 丢脸 arh this time

You guys think the CMs affect the middle class only arh. You go ask around your rich friends see they got kenna jialat jialat or not this time.

SIBEH 丢脸 arh this time

[狮子王]

You guys think the CMs affect the middle class only arh. You go ask around your rich friends see they got kenna jialat jialat or not this time.

SIBEH 丢脸 arh this time

You go ask around all the businessman, who never use property to profit? Their business mostly to provide a stable stream of income or to expand their company niah.

Now they cannot flip property sure no pocket money like me. If I can kowpeh kowbu....means they sure also kena like me liao.

This time I tell you, they kena jialat jialat liao. Sure see smaller and smaller houses they stay in liao.

[狮子王]

You go ask around all the businessman, who never use property to profit? Their business mostly to provide a stable stream of income or to expand their company niah.

Now they cannot flip property sure no pocket money like me. If I can kowpeh kowbu....means they sure also kena like me liao.

This time I tell you, they kena jialat jialat liao. Sure see smaller and smaller houses they stay in liao.

My household expense is approx S$10,000 plus another S$10,000 for the rest of the investment. With the living expenses so high for me and no more pocket money, you guys say how long I can dong before selling my Nassim bungalow leh ?


SIBEH 丢脸 arh this time....

[狮子王]

My household expense is approx S$10,000 plus another S$10,000 for the rest of the investment. With the living expenses so high for me and no more pocket money, you guys say how long I can dong before selling my Nassim bungalow leh ?


SIBEH 丢脸 arh this time....

No more pocket money liao....SIBEH 丢脸 arh this time.

[狮子王]

No more pocket money liao....SIBEH 丢脸 arh this time.

You think you read in the magazines top richest man, Leo Cheng, NETWORTH US$500 MILLION is mean I got $500million cash isit?

YOU ARE SIAO LA ! IT MEANS MY BUSINESS AND STOCKS IS WORTH US$500million la... MAYBE I GOT PERSONAL CASH OF FD S$3million niah

[狮子王]

You think you read in the magazines top richest man, Leo Cheng, NETWORTH US$500 MILLION is mean I got $500million cash isit?

YOU ARE SIAO LA ! IT MEANS MY BUSINESS AND STOCKS IS WORTH US$500million la... MAYBE I GOT PERSONAL CASH OF FD S$3million niah

That is the reason why you can see angmo media reporting Net Assets of Billionaires dipped US$1billion or rise US$1billion on a flick of a button la.

somemore you think listed stocks easy to unload on the fly arh ?

you try unloading 5000lots in the STI within one day see the SGX come after you or not.


SIGH........In this World where got such things as real CASH billionaire one? Maybe Rockefellas la....

[chestnut]

You think you read in the magazines top richest man, Leo Cheng, NETWORTH US$500 MILLION is mean I got $500million cash isit?

YOU ARE SIAO LA ! IT MEANS MY BUSINESS AND STOCKS IS WORTH US$500million la... MAYBE I GOT PERSONAL CASH OF FD S$3million niah

My good brudder, I give u some simple advise to make your life smoother lah... Unload 25 mil from your 500 mil (5% nia). Put all 25 mil into corporate bonds @ 4%. You get 1mil coupon lor.... 1 mil divide by 12 mth = 83k per month to spend lor....

Hahahahahaha.....

If u think 83 k not enough, u leverage on it lor....

Hahahahahaha

If u Kia see, take 1/2 and put into properties near mrt lor...


Hahahahahaha

See... I provide u solution....

[狮子王]

My good brudder, I give u some simple advise to make your life smoother lah... Unload 25 mil from your 500 mil (5% nia). Put all 25 mil into corporate bonds @ 4%. You get 1mil coupon lor.... 1 mil divide by 12 mth = 83k per month to spend lor....

Hahahahahaha.....

If u think 83 k not enough, u leverage on it lor....

Hahahahahaha
n
If u Kia see, take 1/2 and put into properties near mrt lor...


Hahahahahaha

See... I provide u solution....

Good Brother chestnut , you are right! very logical and smart suggestion for my situation leh, never thought anyone here got a better idea.thanks