Regulatory Alerts2020-11-06
Added
Notice 831A Computation of Total Debt Servicing Ratio for Property Loans
The Monetary Authority of Singapore issued Notice 831A to mandate all finance companies in Singapore to compute the total debt servicing ratio for property loans. The notice establishes the specific formula and parameters for calculating borrowers' monthly total debt obligations and gross monthly income. It also defines the regulatory limits on monthly repayment instalments for the purchase of HDB flats and executive condominiums.
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