I was monitoring the mortgagee sales in Singapore since last year as I believed the number of such sales will see a sharp increase. True enough, it was reported by Straits Times yesterday “Mortgagee sales spike as property curbs bite”. According to the article, there were 54 homes put up for auction in the first quarter as […]
Why Is The Ease of Total Debt Servicing Ratio (TDSR) Restriction Disappointing
On Feb 10, 2014, The Monetary Authority of Singapore (MAS) announced to ease the restrictive Total Debt Servicing Ratio (TDSR) on certain property buyers. What it says is that some of those who bought a residential property before the TDSR measure (introduced on June 29, 2013) will be exempted from the TDSR threshold of 60% […]
Finally, Total Debt Servicing Ratio (TDSR) framework
Why blame the government where you are not prudent in the first place? Finally, the rules, which take effect today, demand that lenders consider a borrower’s total debt obligations, including other mortgages and loans for cars, before granting a new home loan. Banks will not be able to approve a loan if the monthly repayments […]
Summary of 7th round of property cooling measures
Last Friday (11th Jan 2013) evening, the Singapore Government announced a sweeping 7th round of property cooling measures since 2009, with a series of policies including: Raising Additional Buyer’s Stamp Duty (ABSD) by 5%-7% Imposing ABSD on second homes for Singaporeans and first homes for permanent residents (PR) Lowering loan-to-value limits Increasing minimum cash payments […]