LOANS(RESIDENTIALLOANS)

WEF12Jan2013

SCOPE

1. LoanToValue(LTV)Limit2. MinCashDownPayment3. Reliefs

LOANTOVALUE(LTV)LIMIT&MINIMUMCASHDOWNPAYMENT

NonindividualBorrowers(corporate):

LTV=20%

RELIEFS

1. PurchaseofECdirectlyfromdeveloperorPurchaseof(new/resale)HDB/DBSSflatborrowerNOT subjectedtolowerLTVandhighermincash

2. Borrowertoprovideundertaking toHDBcommittingtosellfirstpropertywithin6months ofTOP/CSCofECORpossessionofHDB/DBSSflat.

3. Thus,borrower treatedasfirsthousingloan.

SUMMARY

1. LTV&Mincashdown:refertotable1and22. Reliefs:onlyforpurchaseofnewlaunchECOR (new/resale)HDB/DBSSflat.

SOURCES

https://www.iras.gov.sg/IRASHome/uploadedFiles/IRASHome/News_and_Events/Additional%20Measures%20to%20Ensure%20a%20Stable%20and%20Sustainable%20Property%20Market%20%20Annex%20II.pdf

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