Regulatory Alerts2013-06-28
Added · Updated
Notice 128 Computation of Total Debt Servicing Ratio for Property Loans
Direct insurers must compute the total debt servicing ratio for borrowers applying for property credit facilities and refinancing using a specific formula, subject to defined exceptions for capital repayments, tenure reductions, or debt reduction plans. The notice establishes comprehensive definitions for borrowers, property types, credit facilities, and related terms to standardize these calculations. It mandates that joint applications aggregate the monthly debt obligations and gross monthly income of all borrowers involved in the assessment.
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