Regulatory Alerts2021-06-28
Added
MAS Notice 1107 Bridging Loans for the Purchase of Immovable Properties
The Monetary Authority of Singapore issued Notice 1107 to establish conditions that merchant banks must meet when disbursing bridging loans to individuals for the purchase of immovable properties. This regulatory framework applies to all merchant banks and specifically covers loans intended for acquiring HDB flats, replacing the previous version dated November 2013. The notice took effect on 1 July 2021 to standardize lending practices for these specific property transactions.
Notices
Last Revised Date: 28 June 2021
Conditions merchant banks must meet when disbursing bridging loans for property to individuals.
Property Loans
Issued pursuant to:
Monetary Authority of Singapore Act (Cap. 186) section 28(3)
Applies to:
Merchant Bank (Locally Incorporated)
,
Merchant Bank (Branch)
View Notice
Notice 1107 Bridging Loans for the Purchase of Immovable Properties
(85.2 KB)
This notice applies to all merchant banks. It sets out the requirements for merchant banks granting bridging loans to individuals, including bridging loans to be used for the purchase of an HDB flat.
01 Jul 2021 MAS Notice 1107 dated 28 June 2021 takes effect.
01 Jul 2021
MAS Notice 1107 dated 29 November 2013 (243.1 KB) is cancelled .
01 Dec 2013
MAS Notice 1107 (243.1 KB) dated 29 November 2013 takes effect.
01 Dec 2013 MAS Notice 1107 dated 01 April 2010 is cancelled.
07 Apr 2010 MAS Notice 1107 dated 01 January 2003 takes effect.