Regulatory Alerts2013-06-28
Added · Updated
Notice 831 Computation of Total Debt Servicing Ratio for Property Loans
Finance companies in Singapore must compute the total debt servicing ratio for borrowers applying for credit facilities for the purchase of property, refinancing facilities, or other property-secured credit. The ratio is calculated by dividing monthly total debt obligations by gross monthly income, with specific rules for joint applications and exclusions for certain refinancing scenarios. Definitions are provided for borrowers, property types, and various credit facilities, including bridging loans and hire-purchase agreements.
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