27 Feb '13, 9am

Structures in place to prevent #overborrowing...

To ensure that home buyers do not overstretch themselves financially when taking out a home loan, banks are required to scrutinise the prospective borrowers' ability to repay the loan, noted Deputy Prime Minister and Finance Minister Tharman Shanmugaratnam. Mr Shanmugaratnam, who is also in charge of the Monetary Authority of Singapore (MAS), said lenders are expected to make their assessment based on the projected average interest rate over the life of the loan rather than market rates at the beginning of the loan, or “teaser” rates that may be offered for the first few years of the loan. He said this in response to a parliamentary question by MP Foo Mee Har of West Coast GRC as to whether MAS will consider specifying a standard medium-term interest rate to be used by all Singapore banks to determine the mortgage servicing ratio (MSR) for housing loans. He explained that ...

Full article: http://www.propertyguru.com.sg/property-management-news/2...

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Singapore raises property tax to curb property speculation: Singapore plans to raise property ... from @cppluxury

Singapore raises property tax to curb property ...

cpp-luxury.com 25 Feb '13, 5pm

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