You must be Leo Cheng, a clone nick of his.Originally Posted by 狮子王
You must be Leo Cheng, a clone nick of his.Originally Posted by 狮子王
I think e govt has mis interpreted e strong sales as bubble. It is more a reflection of trust in govt to deliver e JLD masterplan, pent up upgraders dream n failure of public transport. This rule will favour e rich buyers n increase e gap between rich n middle class.
Personally I like this CM. Too many borderline "investors" already. It's quite dangerous. This only affects the marginal investors, who barely can afford a second investment pty and dream of being a landlord. This is the root cause of all these MMs. Traditionally, pty investment has always been the business of the well off. Now, anyone is dreaming of becoming a landlord with his 200k saving. And unscrupulous developers build units with bite size quantum to suit this. Such situation is not healthy. And such marginal investors are treading a vey dangerous path without knowing it. (rental "yield" is never a sure thing , it's not even a "yield" by definitin. ) Thanks to PAP, gov is now babysitting everything.
For all information...with this new ruling...
No more asset based landing.
In the past, if you are rich and no income, you still can get bank loan to ltv 60% guranteed.
Now, you need income in order to get the loan.
Hence you are unable to levage. Super rich with no income can buy, but pay in full cash.
Is EC affected? Especially in the case of joint borrowers.
Planning to buy an EC
Yes...100%Originally Posted by acer23
It's for any type of residential property purchase.
The rich has many ways of getting a loan. It doesn't have to be a mortgage.Originally Posted by Lemonlaw
Again, u missed the target.Originally Posted by Lemonlaw
The super rich have been using asset leverage for donkey years. This time they will just bypass the landed here.
U are right, some call me Leo, others call me Blackjack21
Agree. It will be more effective for MND to lay down minimum unit sizes and kill off these shoeboxes once and for all.Originally Posted by amk
Definitely, but in this context...I am referring to residential property loan with regards to this new ruling.Originally Posted by amk
Originally Posted by Lemonlaw
All official media sources say this is not a CM, merely framework development
Haha...bingo....I know you are super handsome too.Originally Posted by 狮子王
MAI HAI LANG LA !!!!Originally Posted by august
I never say is new CM, I only say is new ruling.Originally Posted by Mu
Please go channelnewsasia website.
It states, "MAS set new rules"
I agreeOriginally Posted by august
Originally Posted by Lemonlaw
I never say you say CM..... I just point out all official media says its not CM.
NI GONG SIMI ? ( what talking you ? )Originally Posted by Mu
This is the arrow shooting right into the heart of the apple.
I have a gut feeling something else is coming, but I am just not smart enough to know what and how they are going to do it.
hence, my appeals to developers here not to be so haolian.
now see what happen liao lor... That is why I said go for CCR also.
But many laugh at me lor
What does this mean?Originally Posted by Lemonlaw
Q8 The computation of the TDSR should aggregate the monthly
repayments of total debt obligations. Are there any exceptions to this rule?
A8 In the case of a borrower applying for a loan for the purchase of a HDB
flat or an Executive Condominium (EC) purchased directly from a property
developer, an FI may exclude the monthly repayment in respect of the
borrower’s outstanding loan for an existing residential property, in computing
the TDSR for the HDB flat or EC. This exemption takes into account HDB’s
current rules on ownership, which require buyers of HDB flats or ECs
purchased directly from a property developer to sell their existing properties
within six months of TOP/CSC of the EC or taking possession of the HDB flat. In
such cases, the existing residential property and loan for the property, would
be sold off and discharged within six months.
This exemption will only apply where the borrower has, at the time of applying
for such a loan –
(i) only one existing residential property that he owns, either by
himself or jointly, and which he will be taking steps to sell;
(ii) an outstanding loan for the purchase of the existing residential
property or the re-financing of such a loan;
(iii) no outstanding loan (either in his own name or jointly with
another borrower) for the purchase of property or the re-financing
of such a loan, apart from the loan in (ii);
(iv) no outstanding loan (either in his own name or jointly with
another borrower) otherwise secured on any property, including the property referred to in (i), or the re-financing of such a loan;
and
(v) no property other than the property referred to in (i) that he
owns, either by himself or jointly.
An FI should obtain documentary evidence to verify (i) to (v). 2
This exemption will also apply to the computation for the MSR of 30%, of
borrowers applying for a loan for the purchase of a HDB flat.
U praise me like that I have to say ur eyes stuck with stamps lor.Originally Posted by Lemonlaw
Woahahahhehhehhehehheh
Originally Posted by 狮子王
Brother I never say this...official media CNA say one...I also like you worried for the future....
Haha....by getting banks to do credit tightening on individuals, this is definitely part of the Cooling measures to cool the property marketOriginally Posted by Mu
The above is a 100% correct statement.
That is not what I said, that is what blackjack always love to say.Originally Posted by 狮子王
I am just quoting his words.
Originally Posted by Lemonlaw
I agree brother
Just bear with it lor... What can we do tiobo? Next time just ask the developers u meet not to be so haolian and earn money quiet quiet earn can alreadyOriginally Posted by Mu
Haha...Leo Cheng is a super rich man living next to Singapore river.Originally Posted by Mu
He is definitely not worry about his future.
Cannot believe u can quote a siaolang like blackjack. I am the saner part in him lor. LOL anyway, I agree with you la... Just teasing u only lorOriginally Posted by Lemonlaw
Woahahahhhhhehhehehehhe
Originally Posted by 狮子王
Pppl also to be blamed...if developer set price, they all think wah must be a bargain even if they pay $1600 for Jurong.....two hands to clap
You are right. This is called CREDIT TIGHTENING. Now u are shooting correctly.Originally Posted by Lemonlaw
Of course I never worry, anything I can just jump into the river lorOriginally Posted by Lemonlaw
Importantly, we also need to look at the govt land sales. What is the bidding price.Originally Posted by Mu
If developer bid price is at 700psf in Punggol , what will the break even cost?
1300psf? Then how much do you think developer will sell to make profit?