Borrowing money against property easier now for retirees

The Government is relaxing loan limit rules for anyone wanting to borrow money using their residential property as collateral.

It is tweaking the total debt servicing ratio (TDSR) framework which stipulates that all of a borrower’s debt repayments – including mortgage, credit cards and car loans – should not top 60 per cent of monthly income.

The move is set to help retirees, along with others wanting to cash out using the value of their home. Continue reading

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Some property curbs eased: But what do TDSR, LTV, SSD and ABSD mean?

SINGAPORE – The Government announced tweaks to property cooling measures on Friday (March 10).

With effect from Saturday (March 11), changes to the Seller’s Stamp Duty (SSD) and Total Debt Servicing Ratio (TDSR) framework will take effect, but current rules on Additional Buyer’s Stamp Duty and the general loan-to-value (LTV) limits will stay the same.

Not sure what all this means? Read our quick explainer below. Continue reading

Govt eases some property cooling measures, cutting seller’s stamp duty and slightly relaxing TDSR rules

SINGAPORE – The Government has relaxed some residential property measures relating to the seller’s stamp duty (SSD) as well as the total debt servicing ratio framework (TDSR). The new rules take effect from March 11.

However there is no change to the additional buyer’s stamp duty (ABSD) as well as loan-to-valuation (LTV) limits.

Instead, the Government is making “calibrated adjustments” to the SSD and TDSR framework, the ministries of national development and finance and the Monetary Authority of Singapore (MAS) said in a joint statement on Friday (March 10). Continue reading

Property curbs to stay for some time: Lawrence Wong

Property curbs on homes are likely to stay for some time as demand in the market remains “very resilient”, National Development Minister Lawrence Wong has said.

This has put paid to any hopes for the cooling measures to be rolled back any time soon, amid expectations that this year’s Budget would have offered some reprieve to developers here.

Mr Wong, who is also Second Finance Minister, said in a Bloomberg Television interview yesterday that the curbs “have helped to achieve a soft landing in the property market” Continue reading

Time to relook property curbs, says consultancy firm

It’s time for the Government to consider “thawing” property cooling measures, according to consultancy JLL yesterday.

The firm said in a report that one reason to reconsider the measures is the significant fall in property prices.

Overall prices of private homes have fallen by about 11.2 per cent since the third quarter of 2013, it said, citing Urban Redevelopment Authority data. Continue reading