New cooling measures by Government


This just in: Sellers Stamp Duty(SSD) has been raised from 3 years to 4 years. The rates are on a sliding scale at 16,12,8 and 4%

 

The Loan to Value(LTV) will be lowered to 50% on housing loans or property buyers who are not individuals. The LTV would be lowered to 60% for individual property buyers  with one or more outstanding housing loans.

This will most definitely put speeding brakes on speculating market. Maybe it’s a good thing. Interest rates will rise eventually, and this will help those who over extend themselves in loan amounts. This should encourage financial prudence

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