Posted by Kevin Scully
MAS last night announced the broadening of refinancing options under the TDSR which was introduced on 29 June 2013. It is clear from the measures that the Government and MAS want to deter speculative investment and over gearing by property investors. This broadening is targetted specifically at owner occupied house owners who need refinancing. For investment property oweners they are also allowed to refinance but must get their gearing in place by 30 June 2017. The latter is similar to the couple of months reprieve that the Government gave second hand car dealers to clear their stock when they introduced the 50% car financing rule.
On balance, good for the real home buyer, gives the over leveraged property investor three years and a bit ...