13 Jan '11, 2pm

The Government announced today the following measures to maintain a stable and sustainable property market

9 The LTV limit is lowered from 70% to 60% with effect from 14 January 20118 for borrowers who are individuals and have one or more outstanding housing loans (whether from HDB or a financial institution regulated by MAS) at the time of applying for a housing loan for the new property purchase. 10 However, borrowers who can show evidence that they have sold their existing properties will not be subject to the lower LTV limit when they buy a new property. Where the existing property is a private property, he can show a signed Sale & Purchase (S&P) agreement with the IRAS certificate showing that stamp duty has been paid on it. Where the existing property is a HDB flat, he can show HDB’s approval letter to sell the flat, that HDB will issue within 2 weeks of the First Appointment. These borrowers will still be able to borrow at an 80% LTV from financial institutions. 11 Borro...

Full article: http://www.mas.gov.sg/news_room/press_releases/2011/Measu...

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