In a MAS release that will take immediate effect, the government will intervene on mortgages for HDB flats and private properties. These home loans can only span 35 years and those wanting loans longer than 30 years or tenures exceeding the borrowers' age of 65 can only borrow up to 60 per cent of the property price.
My humble opinion on the impact.
Firstly, it will affect those who wish to take loan tenures that stretch longer than age 65. This group of people is already over stretching in the first place. It is only logical and prudent to limit the age to the retirement age of 65. Of course, there will be those who invest in property ...
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