{"id":24689,"date":"2016-09-02T12:48:01","date_gmt":"2016-09-02T05:48:01","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/other-property-measures-may-be-eased-after-tdsr-tweaked-report\/"},"modified":"2016-09-02T12:57:14","modified_gmt":"2016-09-02T05:57:14","slug":"other-property-measures-may-be-eased-after-tdsr-tweaked-report","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/other-property-measures-may-be-eased-after-tdsr-tweaked-report\/","title":{"rendered":"Other property measures may be eased after TDSR tweaked: report"},"content":{"rendered":"


\nChanges to the TDSR could be a precursor to further fine-tuning of the property measures.
\nThe decision by the Monetary Authority of Singapore (MAS) to revise the refinancing rules under the Total Debt Servicing Ratio (TDSR) framework is seen as a favourable move by Credit Suisse, and a possible precursor to further revisions of other property cooling measures.
\nIn a report, the financial institution said \u201cthe intention of the adjustments is to help borrowers refinance their existing property loans at lower interest rates and better manage their debt obligations\u201d.
\n\u201cWe interpret this positively, as the government is willing to fine-tune measures to suit market needs and borrower feedback. The MAS estimated that 73 percent of outstanding housing loans are for owner-occupation as of Q3 2015, and five to 10 percent of households have debt-servicing ratios above 60 percent.\u201d
\nThe report added that this is a sign that the government is open to relaxing other curbs, even though the MAS stated that the new rules do not represent an easing of the cooling measures.
\n\u201cSemantics aside, we believe the adjustments support our view that with the weakening macro outlook, further adjustments to property cooling measures would be one of the ranges of policies the government can use to combat a slowdown,\u201d said Credit Suisse.
\nIt noted that the Additional Buyer\u2019s Stamp Duty (ABSD) and Seller\u2019s Stamp Duty (SSD) are not an integral part of government tax receipts, comprising just two percent of total tax revenues.
\n\u201cThe government will likely want to preserve the element of surprise prior to any action, but we believe the market could start to price in an increasing probability of (their) removal moving forward,\u201d noted Credit Suisse.
\nUnder the new rules which took effect yesterday, borrowers who purchased houses for their own use after the implementation of the TDSR on 28 June 2013 will no longer be subject to the TDSR threshold of 60 percent or Mortgage Servicing Ratio (MSR) limit of 30 percent when they refinance their mortgages.
\nPreviously, only owner-occupied properties bought before the implementation of the TDSR were exempted from the TDSR framework.
\nFurthermore, borrowers are now permitted to refinance their investment property loans above the TDSR threshold regardless of when they were purchased. However, they must commit to a debt reduction plan with their respective banks to repay at least three percent of the outstanding balance within three years, and fulfil the financial institution\u2019s credit assessment.
\n\u00a0
\nRomesh Navaratnarajah, Senior Editor at PropertyGuru, edited this story. To contact him about this or other stories, email\u00a0romesh@propertyguru.com.sg
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…Other property measures may be eased after TDSR tweaked: report<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Changes to the TDSR could be a precursor to further fine-tuning of the property measures....<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-24689","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-6qd","jetpack-related-posts":[{"id":47413,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/govt-tweaks-property-cooling-measures-for-ssd-and-tdsr\/","url_meta":{"origin":24689,"position":0},"title":"Govt tweaks property cooling measures for SSD and TDSR","date":"March 10, 2017","format":false,"excerpt":"\r The government will now reduce the holding period for imposing the Seller\u2019s Stamp Duty from the current four years to three years. With effect from 11 March, the government will implement changes to the Seller\u2019s Stamp Duty (SSD) and Total Debt Servicing Ratio (TDSR) framework, but will retain the\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":71106,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/tdsr-framework-implemented-to-moderate-prices\/","url_meta":{"origin":24689,"position":1},"title":"TDSR framework implemented to moderate prices","date":"November 7, 2017","format":false,"excerpt":"\r Artist\u2019s impression of West Scape at Bukit Batok. (Photo: HDB) The median price gap between private housing and HDB Build-to-Order (BTO) flats in the outside central region \u2013 where majority of the BTO flats were built over the past few years \u2013 has narrowed to 166 percent from 169\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":8177,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/budget-2016-what-to-expect\/","url_meta":{"origin":24689,"position":2},"title":"Budget 2016: What to expect","date":"March 11, 2016","format":false,"excerpt":"\r Key measures will be announced in Budget 2016, and many are wondering if this will mean changes to the property measures. Singapore\u2019s property market faces strong headwinds, but the government seems determined to maintain the cooling measures for now. With more home buyers and developers looking for greener pastures\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i1.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2016\/03\/Helen-Ng-683x1024.jpg?fit=683%2C1024&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":25289,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/mas-wont-ease-property-cooling-measures-anytime-soon\/","url_meta":{"origin":24689,"position":3},"title":"MAS won\u2019t ease property cooling measures anytime soon","date":"September 7, 2016","format":false,"excerpt":"\r The revised mortgage refinancing rules do not represent an easing of the property cooling measures, said MAS Managing Director Ravi Menon. The Monetary Authority of Singapore (MAS) will not ease the property cooling measures which have caused home prices to drop by almost 10 percent anytime soon, reported Bloomberg.\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":123833,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/singapore-unveils-new-property-cooling-measures\/","url_meta":{"origin":24689,"position":4},"title":"Singapore unveils new property cooling measures","date":"December 16, 2021","format":false,"excerpt":"\r Singapore unveils new property cooling measuresThe new Singapore property cooling measures, which include a higher ABSD, lower TDSR, and tighter LTV, will take effect from today, 16 December 2021. The Government on Wednesday (15 December) unveiled a package of measures to cool the private residential and HDB resale markets.\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2021\/12\/Buildings-singapore.jpg?fit=820%2C410&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":115480,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/mas-waives-tdsr-limits-for-deferred-mortgage-repayments\/","url_meta":{"origin":24689,"position":5},"title":"MAS waives TDSR limits for deferred mortgage repayments","date":"April 8, 2020","format":false,"excerpt":"\r Borrowers who apply to defer either their home loan\u2019s principal payment or both their interest and principal payments will be exempt from the TDSR limitations. The Monetary Authority of Singapore (MAS) has clarified that certain limits for deferred payments on consumer loans and mortgages will be waived in a\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/24689"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=24689"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/24689\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=24689"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=24689"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=24689"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}