Regulatory Alerts2021-06-28
Added
Notice 1115A Computation of Total Debt Servicing Ratio for Property Loans
The Monetary Authority of Singapore issued Notice 1115A to prescribe the formula and parameters for merchant banks to compute the total debt servicing ratio for property loans. The regulation mandates specific calculations for borrowers' monthly total debt obligations and gross monthly income to assess creditworthiness. It also establishes strict limits on monthly repayment instalments for the purchase of HDB flats and executive condominiums.
Topics
Share