AskGuru Q&A Community

Hi Laura,

Dont be confused.

According to the 6 Oct MAS new rules, you can loan up to 80% of valuation/ purchase price for 30 years or up to retirement age of 65 years old.

In this instance, you are perfectly eligible as you are 32 years old only.

Max loan tenure is capped at 35 years. Thus what the banker means that if you wish to take the longest loan tenure of 35 years, it will exceed the retirement age of 65 years thus you can only loan up to 60%.

In the past, loan tenure doesnt really play an important role. in the past as long as you dont have housing loan, you can loan up to 80%. If you have, it will be 60%.

Loan tenure and retirement age plays a great part in lenders' loan nowadays.

If you are still confused, I can email you a flow chart which will make you understand the new guidelines clearer.

Warmest Regards,
YT TAN
District Manager
R043025D
(M): 9111 5171 
(E): yt.lovelyhomes@gmail.com
(W1): www.yttan.com
(W2): yttan.stproperty.com.sg/
ECG Property Pte Ltd Read More

Hi Laura,

May i request you to send me a mail on realproperty63@yahoo.com.sg or call me on 93380071  and i shall advise you on the regulations by MAS.

Regards,

Radhika - Global Realtor
DTZ - 93380071  Read More

Afternoon Laura,

My questions to you would be: what's you understanding of the new MAS ruling and when was that dated? How much loan you are looking at?

Based on the latest regulation, mortgage loan cannot exceed 35 years tenure or 65 years of age, whichever if shorter. If you intend to take mortgage loan at 80%, you should not have existing mortgage at hand too.

FYI
Mike Lim
 96929209 
ERA Read More

Dear Laura,

To make things simple, perhaps I can send you a chart on the eligible loan structure with the implementation of the new regulations?

Regards,
Geryl LIM
Real Estate Consultant/District Manager
CEA Reg R014783H
Mobile: +65-81577565 
Email: lim.geryl@yahoo.com.sg Read More