We can only dream of such common sense, "benevolent fascism" in the West. Not only is the length now capped at 35 years max, if the loan is longer than 30 years or extends past retirement age at 65, borrowers will have even tighter limits. The new limits are a 40% down payment on first mortgage, 60% for second+, refinancing or for corporations. This is all in response to capital inflows of foreigners inflating local property prices, i.e. currency inflation.
Singapore will restrict home-loan maturities in a bid to curb a housing bubble after property prices in the island-state rose to a record last quarter amid low interest rates.
http://www.bloomberg.com/news/2012-10-0 ... rties.html
Singapore Caps Residential Loan Tenures After Prices Hit Record
Moderator: Global Moderator
-
MachineGhost
- Executive Member
- Posts: 10054
- Joined: Sat Nov 12, 2011 9:31 am
Singapore Caps Residential Loan Tenures After Prices Hit Record
"All generous minds have a horror of what are commonly called 'Facts'. They are the brute beasts of the intellectual domain." -- Thomas Hobbes
Disclaimer: I am not a broker, dealer, investment advisor, physician, theologian or prophet. I should not be considered as legally permitted to render such advice!
Disclaimer: I am not a broker, dealer, investment advisor, physician, theologian or prophet. I should not be considered as legally permitted to render such advice!