19 Sep '13, 1am

Indonesia to tighten rules on home loans - Property Auctions News, Property Investment | PropertyGuru

Indonesia’s central bank plans to revise the rules on the disbursement of housing loans starting next month, according to media reports. The first mortgage will be disbursed based on a property’s percentage level of completion, while subsequent housing loans will be disbursed only upon completion. This is in addition to the Bank of Indonesia’s loan-to-value (LTV) limit, which took effect this month. Under these rules, home buyers are required to fork out a 40 percent down payment for their second property purchase and 50 percent for subsequent transactions of houses larger than 70 sq m. For residential properties sized from 22 sq m to 70 sq m, the LTV limit for first-time purchasing remains at 80 percent, while LTVs for second and subsequent homes were slashed to 70 percent and 60 percent respectively. There are no restrictions on houses measuring less than 22 sq m. “This ...

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

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