The move to fine-tune the total debt servicing ratio (TDSR) is clearly not a relaxation of cooling measures but is best seen as a step to avert hardship during an economic slowdown.
The amended refinancing framework announced by the Monetary Authority of Singapore (MAS) on Thursday will protect both banks and home owners, experts note.
Two groups of owners, in particular, can benefit.
Some owner-occupiers who bought their properties after the TDSR was introduced in June 2013 may not be able to clear the 60 per cent TDSR threshold now, perhaps due to incurring additional liabilities, reduced income or even job loss.
Thursday’s rule change means the TDSR threshold will no longer apply if they want to refinance loans for their …
Read the full article at: http://www.straitstimes.com/business/property/tdsr-tweaks-help-two-groups
