Tuesday, December 10, 2013

3 new tweaks to the Executive Condominium Scheme - An EC cooling measure? Mortgage Supermart Singapore

In January 2013, MAS revised the Mortgage Servicing Ratio (MSR) to be capped at 30% of a borrower’s gross monthly income for loans granted by financial institutions for the purchase of HDB flats. - See more at: http://www.mortgagesupermart.com.sg/blog/19-3-new-tweaks-to-the-executive-condominium-scheme-an-ec-cooling-measure#sthash.ethVgism.dpuf

In January 2013, MAS revised the Mortgage Servicing Ratio (MSR) to be capped at 30% of a borrower’s gross monthly income for loans granted by financial institutions for the purchase of HDB flats.

In June 2013, MAS introduced the Total Debt Servicing Ratio (TDSR) framework. The new frame work serve to cap a borrower’s total repayment liability to be not more than 60% of his monthly gross income.

3 new tweaks to the Executive Condominium Scheme - An EC cooling measure? Mortgage Supermart Singapore