Loans (Residential)
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Transcript of Loans (Residential)
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LOANS(RESIDENTIALLOANS)
WEF12Jan2013
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SCOPE
1. LoanToValue(LTV)Limit2. MinCashDownPayment3. Reliefs
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LOANTOVALUE(LTV)LIMIT&MINIMUMCASHDOWNPAYMENT
NonindividualBorrowers(corporate):
LTV=20%
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RELIEFS
1. PurchaseofECdirectlyfromdeveloperorPurchaseof(new/resale)HDB/DBSSflatborrowerNOT subjectedtolowerLTVandhighermincash
2. Borrowertoprovideundertaking toHDBcommittingtosellfirstpropertywithin6months ofTOP/CSCofECORpossessionofHDB/DBSSflat.
3. Thus,borrower treatedasfirsthousingloan.
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SUMMARY
1. LTV&Mincashdown:refertotable1and22. Reliefs:onlyforpurchaseofnewlaunchECOR (new/resale)HDB/DBSSflat.
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SOURCES
https://www.iras.gov.sg/IRASHome/uploadedFiles/IRASHome/News_and_Events/Additional%20Measures%20to%20Ensure%20a%20Stable%20and%20Sustainable%20Property%20Market%20%20Annex%20II.pdf
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CALLWILLIAMCHUI :(+65)81115505