MAS Restricts Loan Tenure for Residential Properties

[Jj5599]

Looks like properties across the causeway is not too bad now..haha..might be attractive

[Chucky2007]

But total quantum of repayment, P+I, is higher for shorter loan tenure bro. For the common man on the street, they may not be able to take such a high monthly repayment. For rich dudes, yes lower interest costs in the long run for them.

I agree it affects...

 

I also affected. Now gotta take 27 year loan.. Instead of 33 or 38 years. Gotta recalculate my sums. Thank god lots of good android apps for loan calculations

[Jj5599]

I agree it affects...

 

I also affected. Now gotta take 27 year loan.. Instead of 33 or 38 years. Gotta recalculate my sums. Thank god lots of good android apps for loan calculations

 

Bro, you can stretch your loan beyond 65 if you are prepared for lower LTV.

Edited October 8, 2012 by Jj5599

[Happily1986]

There's a reserve price for every site posted during GLS. Bids that fall short of the Chief Valuer's number will be tossed to the bin literally.

 

Someone please correct me if I'm wrong

 

UOL's rejected bid over two triangular plots in Paya Lebar a year back demonstrates that amply.

[Zze121]

Need to factor increase in rate.

[Duckduck]

thats y some pple say this cooling measure not bad, i thk its worse than pple thk coz its reducing everyone's affordability, so mkt will take awhile to adjust

[Chucky2007]

Bro, you can stretch your loan beyond 65 if you are prepared for lower LTV.

It's same same.. In fact lower LTV is worse as it swipes more lump sum liquidity immediately

[Jj5599]

It's same same.. In fact lower LTV is worse as it swipes more lump sum liquidity immediately

 

Understandable....now to get a 40 year loan..one must buy at age 25..at that age, how many have the resources for the downpayment..

[ShepherdPie]

Need to factor increase in rate.

 

Interest is not going anywhere in the next 5yrs. Even though fed only mention abt keeping interest rate low till 2015. But eu and us looks to weak to adj their interest anytime.

[Zze121]

Interest is not going anywhere in the next 5yrs. Even though fed only mention abt keeping interest rate low till 2015. But eu and us looks to weak to adj their interest anytime.

After 5 years is unknown, maybe 4% or 6%?

[Felipe]

Another wayang cooling measure.

 

Developer will just work around this to launch more 600sqft 3-br units.

 

With QE3 and low interest rates, there isnt much the govt can do to impact the mkt. If they are so serious, they should start by lowering BTO prices 40% lower than resale. or 60% lower than resale if ppl undertake to extend MOP to 10 yrs/

 

Next, they should sell GLS sites at reasonable prices. Bids at above $350 psf in suburban areas should be thrown out of the window. Dun come and pretend to worry about esclating property value while URA is smiling to the bank with GLS sites being sold at $300m to $500m. And IRAS collecting their nice big stamp duties.

 

in short, this cooling measure won't work.

 

HDB should also have a ruling of no rental allowed. After all, Sporeans' housing needs come first and some FTs are renting. Pretty remarkable policies we have. What a contradiction.

[Felipe]

Bro, you can stretch your loan beyond 65 if you are prepared for lower LTV.

 

i thought max age loan is 65 years old? so there's no max age?

[Icedbs]

i thought max age loan is 65 years old? so there's no max age?

 

You can borrow above 65 years old, just that you need to pay 40% upfront.

[Jj5599]

i thought max age loan is 65 years old? so there's no max age?

 

65 is retirement age..if you stretch beyond it now..you will be hit with lower LTV.

[ShepherdPie]

After 5 years is unknown, maybe 4% or 6%?

Nothing insight that suggest tat.Even if increase also very gradual.

Ha ha ha I just glad that my housing loan is 0.7+combo sor&sibor for the entire tenure . No need to headache abt refinancing now.

[Zze121]

CPF contribution also very low after 50, 60 & 65 years old.

[Zze121]

Nothing insight that suggest tat.Even if increase also very gradual.

Ha ha ha I just glad that my housing loan is 0.7+combo sor&sibor for the entire tenure . No need to headache abt refinancing now.

Tua pui sai bank

[Duckduck]

After 5 years is unknown, maybe 4% or 6%?

 

unlikely 6%, in 2006 sibor high was abt 3%, so that shld b your upper limit projection.

 

From current 1% to 3% is a big jump in monhtly installment.