18 Nov '11, 11pm

Home buyers borrowing less as mood of prudence takes hold #Singapore

Home buyers borrowing less as mood of prudence takes hold #Singapore

Loan-to-value ratios have fallen sharply as home buyers put more cash down due to tighter financing rules. In doing so, they cut back on borrowings and protect themselves if prices fall or interest rates soar. -- ST FILE PHOTO By Esther Teo, Property Reporter Buyers are putting proportionally more cash down when purchasing a home and cutting back on borrowings as a new mood of prudence takes hold. The safety-first approach is reflected in data from the Monetary Authority of Singapore (MAS) which shows that loan-to-value (LTV) ratios have fallen sharply. An LTV ratio of 80 means the buyer has borrowed 80per cent of the home value. The MAS found that loans with an LTV ratio of more than 80 per cent have fallen to 4.9 per cent of all outstanding mortgages in the three months to Sept 30 - the lowest since 2004. Please enable JavaScript to view the comments powered by Disqus. b...

Full article: http://www.straitstimes.com/BreakingNews/Singapore/Story/...

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