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Hi Gurus

We are looking at SH EC. the question is that I am 35 this yr and partner at 30 this year (both birthday passed). Hence looking at the MAS ruling 12 Jan 13. Our combined age is hence 65 (+x months).
Hence, does this affect our LTV which nows fall to 60% (since >65) or we are still in the 80% (<=65)

Does bank consider the months?

thank you
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1 Answer

Ivan Ng
Replied
Hi Morning,

With the latest TDSR measures, the the income-weighted average age will be used to determined the loan tenure. The idea is that for the individual with more income, the years (65 - his current age) will have more impact on the loan tenure. From that outcome, the LTV will be determined accordingly, 80% if tenure ends at at age on or before 65 years old, or 60% if tenure ends at at age exceeding 65 years old. It is recommended you speak to your preferred banker first to get an idea of the In-Principle loan that the bank are willing to grant.

Can I speak to you over the phone to understand your requirements better? For purchasing EC, there are some eligiblity conditions namely:

1) MOP to be met
2) Gross monthly household income ceiling below 12k
3) At least one Singapore Citizen

As Sea Horizon is around 70% sold, can we discuss more with regards to the more ideal units available? Thanks and I hope to hear from you soon!

Warm Regards,
Ivan Ng
Proactive. Sincerity. Feedback.
Website: www.ivanng10.com/sgnewprop
Email: Ivanng10@gmail.com
Contact: (+65) 97432395 
CEA Registration Number: R052114D
ERA Realty Network: L3002382K Read More
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