Allow similar exemption from TDSR for loan repricing
I am delighted that the Total Debt Servicing Ratio (TDSR) framework no longer applies to mortgage equity withdrawal loans with loan-to-value ratios of 50 per cent and below (Seller’s stamp duties cut as some property cooling measures eased; March 11).
I am delighted that the Total Debt Servicing Ratio (TDSR) framework no longer applies to mortgage equity withdrawal loans with loan-to-value ratios of 50 per cent and below (Seller’s stamp duties cut as some property cooling measures eased; March 11).
In the past, I wanted to take up the repricing package offered for my investment property to enjoy lower interest, but I failed to meet the TDSR rules, which did not take into account the loan-to-value ratio.
Now that mortgage equity withdrawal loans are exempted when the property’s loan-to-value ratio is 50 per cent or below, can this be extended to borrowers, especially retirees seeking repricing of their existing loans?
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