Regulatory Alerts2022-12-14
Added
Notice 115A Residential Property Loans - Fact Sheet
The Monetary Authority of Singapore issued Notice 115A to mandate that direct insurers provide and explain a fact sheet to borrowers before granting residential property loans. The notice requires the inclusion of key loan details such as tenure, amount, and repayment schedule, while specifying how this information must be delivered through various channels. This regulatory update ensures transparency for borrowers and applies to all direct insurers in Singapore.