Jonathan de ho half body small

I just chat with a friend in banking line about this. Government is looking into possibility on developer provide in house loan to the buyer who cant get bank mortgage loan.

Our conclusion is that if government not accept the risk, they pushing it to developer. Do you think developer will accept? Unless its small amount (20% loan margin for those 70% loan margin cap buyer or higher interest rate. What do you think?


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Developers can start applying for the money lending license under the Money Lender Act, so I think its enforced already gua. But coming to which developers will actually apply for it, we yet to see, hoho.

Jonathan de ho half body small

No. Not yet enforce yet. 

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maybe developer to provide only a maximum allowable margin let's say 15%... on top of the bank margin of say 75%... which add up to 90% financing for the property purchase. Or simple bring back the DIBS scheme which lots of developer "virtually" mark up their selling price and sell at future prices. most of the time, the developer will help "pay" for the 10% down payment from their marked up selling price.

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@jdh thanks for sharing