HDB Flats --- Are they becoming less affordable?
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Btw, both the high-price Bishan and Strath?? flat transaction did not go through…so no high price established yet.
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ks2me:
Btw, both the high-price Bishan and Strath?? flat transaction did not go through....so high price established yet.
For the Strathmore flat, I read somewhere that the bank did not approve the buyer's loan, and hence, the deal didn't go through.
As for the Bishan flat, not sure what happened. Perhaps the owner wasn't happy with the $50k shortfall in COV, and was hoping another buyer could up the offer?
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is there a cap to the amount any bank can lend out for a property?
like 80% of evaluation, etc? -
tankee:
Yes, there is a statutory MAS cap and internal an internal cap based on their view of the value of the property and general conditions of the market.is there a cap to the amount any bank can lend out for a property?
like 80% of evaluation, etc? -
there is also a cap on he loan tenure based on the age of the prop for 99LH. Somehow, this does not seem to aply for HDB.
:? -
Nebbermind:
The cap on loan tenure is dependent on the age of the borrowers at the time of borrowing.there is also a cap on he loan tenure based on the age of the prop for 99LH. Somehow, this does not seem to aply for HDB.
:? -
3Boys:
in that case, how would the bishan & strathmore buyers expect their bank to ever approve their loans? :? unless they have ready cash of $200k or more to cover the COV and the shortfall in loan. :?
Yes, there is a statutory MAS cap and internal an internal cap based on their view of the value of the property and general conditions of the market.tankee:
is there a cap to the amount any bank can lend out for a property?
like 80% of evaluation, etc? -
qms:
no cap on amount?
The cap on loan tenure is dependent on the age of the borrowers at the time of borrowing.Nebbermind:
there is also a cap on he loan tenure based on the age of the prop for 99LH. Somehow, this does not seem to aply for HDB.
:? -
tankee:
no cap on amount?
Of course have cap on amount. I was answering Nebbermind's query on the loan tenure. Your question was already answered by 3Boys. -
:idea: so perhaps the so-called record sales are just some publicity stunts or politically motivated? :?
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