24 Mar '17, 2am

Retirees with private property can consider a new loan scheme that can release capital from their homes. #realestate

Retirees with private property can consider a new loan scheme that can release capital from their homes. #realestate

Retirees with private property can consider a new loan scheme that can release capital from their homes. Finance firm Hong Leong Finance (HLF) starts offering a programme today that gives retirees cash in the form of a term loan. The scheme could help retired people with paid-up property who need access to ready cash. If they own a property outright, they can borrow up to 50 per cent of the real value of the house. Customers can choose from fixed or variable rate packages. A retiree who does not have a mortgage or one that has been paid down considerably can now borrow against the property without worrying about insufficient monthly income - which was a concern previously under the TDSR regime. HLF said it has introduced the new loan following the Government's move on March 10 to relax loan limit rules under the total debt servicing ratio (TDSR) framework, for owners borro...

Full article: https://www.srx.com.sg/singapore-property-news/34672/hong...

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