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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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2 Answers

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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Good Day

it does seem like you have misunderstood the MAS regulation on 12 Jan 2013 with reference to average weighted income for LTV figures.

Do feel free to drop me a call and i will be able to assist you in your loan application as well as guide you through the EC purchase process.

As for Sea Horizon EC, I am also marketing this project and am very well positioned to answer all your queries and more.

Thank you and have a pleasant day ahead

Andrew Ngauw
 8188 8887 
andrew.ngauw@gps.com.sg
GPS Alliance Pte Ltd
www.sgECsales.com Read More
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