Implementation Of A Maximum LTV of 70%, for 3rd properties and beyond only...
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 Nov 5 2010, 01:37 AM
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#1
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1,360 posts Joined: Mar 2010 
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QUOTE(Phoeni_142 @ Nov 4 2010, 04:37 PM) chaos everywhere! I wonder which banks will post a provision for toxic debts that will hit them in 1 year's time. are you a cash rich? Yummy.....good pickings coming soon.   we will be back to once upon a time, when major effort is needed from the developers to sell houses. nice brochures, proper show house etc. no more sold out before official launch.  |
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Nov 8 2010, 04:28 PM
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#2
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1,360 posts Joined: Mar 2010
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I hope this will not be another flip flop policy.
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Nov 8 2010, 04:41 PM
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#3
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1,360 posts Joined: Mar 2010
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still too vague. But i believe it is not affecting those with fully paid off properties.
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Nov 8 2010, 05:08 PM
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#4
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1,360 posts Joined: Mar 2010
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QUOTE(tinkerbel @ Nov 8 2010, 05:06 PM) @kok_pun, but who are they going to flip to? first time virgin buyer?So meaning, as long as U don't have con-current more than 3 loans at a time, U can still take 90% loan, is it?!  As in, this new rule won't come into affect? Ah well.. in that case, property flippers who's got loads of cash will still be able to do what they do |
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Nov 8 2010, 05:18 PM
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#5
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1,360 posts Joined: Mar 2010
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QUOTE(tinkerbel @ Nov 8 2010, 05:10 PM) @cranx, not exactly a loophole. majority of the speculators do not have the holding power yet they stretched it to the limit getting multiple loans at minimum entry.No.. the objective of the rule was so that people don't buy properties for speculations. If, so as long as I don't have 3 concurrent housing loans at the same time, this new rule doesn't affect me, then what's the point? Then again, i'm not complaining! MUahAHaahAHAh We need some loop holes  you are one of the minority. |
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Nov 8 2010, 05:36 PM
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#6
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1,360 posts Joined: Mar 2010
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QUOTE(kok_pun @ Nov 8 2010, 05:31 PM) with all the developer's DIBS thing around us, there are ways to curb the 70% issue lol, BNM trying to curb overheating property market and you are trying to curb 70% LTV |
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Nov 8 2010, 11:29 PM
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#7
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1,360 posts Joined: Mar 2010
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QUOTE(tinkerbel @ Nov 8 2010, 11:11 PM) @almeizer, there will not be any bubble forming if everyone thinks like you do. most people buy beyond their means. some gamble all out flipping knowing 'for sure' property price in certain areas will go up 30% in one year. Lol.. I've no intentions of making another property purchase; maybe I'll strike LOTTO and be able to pay off the current loan, then I can think about the next purchase @epalbee3, You're right - but i think the importance here is that, one shouldn't buy if they can't afford it; as in, don't buy something that's out of budget *no doubt though a lot of people made insane money these few years.  |
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