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MAS Restricts Loan Tenure for Residential Properties


Duckduck
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will not b good for young pple getting loan as cant stretch mortgage further... means have to pay more monthly installment...

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will not b good for young pple getting loan as cant stretch mortgage further... means have to pay more monthly installment...

 

It means that they have to buy within their means (ie, a cheaper home), which is not a bad thing.

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In time , as prices become unaffordable , hopefully , property prices would drop slightly.

 

Not if cash-rich FTs keep pouring into the country. That's the root cause, isn't it?

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Not if cash-rich FTs keep pouring into the country. That's the root cause, isn't it?

this move only slap on the wrist niah. if anything it against property out of rich from the average-to-do folks and make it easier for the rich people.

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Skies Miltonia at Yishun soft launch today. Agent sms over 280 units sold, wonder how many will cancel their bookings tomorrow [bigcry]

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Turbocharged

will not b good for young pple getting loan as cant stretch mortgage further... means have to pay more monthly installment...

 

 

I think the CM affects older people the most. 30 years is already a long time lah. But if you are older, then the number of years is even less.

 

Example, 40 year old can only borrow 25 years.

 

I think it makes sense. This will cap the amount of money people can borrow and speculate. I think this CM is really good. Current problem is super low interest rates and banks are very irresponsible in exploiting this by introducing 50 year loan, etc.

 

That will make the monthly payment seem very little and encourage people to take bigger loans than they can safely afford. A few years down the road when the interest rates go up, these people will all die because they are used to the low monthly payment. By restricting the loan period, it prevents people from taking excessive loans.

 

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Skies Miltonia at Yishun soft launch today. Agent sms over 280 units sold, wonder how many will cancel their bookings tomorrow [bigcry]

 

What makes you think people will cancel?

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Should also look into car loan, ,maybe not more than 5 yrs..

maybe MAS is waiting for COE to hit 100K

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