95% LTV still available it seems....

[HP65]

Just heard from a friend that it's still possible to obtain 90-95% LTV if one is working in 2 local banks. The first 80% is normal mortgage loan while the remaining 10-15% is classified under staff loan. Not bad staff benefit for those working in Local banks eh. Cool. Looks like our local banks is really flush with liquidity.

[HP65]

He told me further...
AVP loan limit $500k
VP $800k
SVP $1mio

[mygeemeel]

Just heard from a friend that it's still possible to obtain 90-95% LTV if one is working in 2 local banks. The first 80% is normal mortgage loan while the remaining 10-15% is classified under staff loan. Not bad staff benefit for those working in Local banks eh. Cool. Looks like our local banks is really flush with liquidity.

Yes I heard from another agent but is it true? Can anyone confirm? I'm sure the 95% is for first prop buy.

[solsys]

He told me further...
AVP loan limit $500k
VP $800k
SVP $1mio

Bankers are scum.

[buttercarp]

Yup, I heard from a friend whose daughter is working in a bank. She managed to secure 95% loan for her first PC.

[yjcai]

Not only loans. Staff interest rate is low to the max

[chiaberry]

Yes I heard from another agent but is it true? Can anyone confirm? I'm sure the 95% is for first prop buy.

True for the 95%. But there is a cap on the absolute amount of the loan (am not sure about this point but it's probably as stated by the other forum member based on seniority) and also some other terms and conditions (need to take up insurance to cover the full amount of the loan). It is not necessarily for the first prop. You can take the loan if your other props are not under the staff loan. Due to the high price of props these days, due to the cap, the staff loan will not cover 95% in many cases.

[HP65]

True for the 95%. But there is a cap on the absolute amount of the loan (am not sure about this point but it's probably as stated by the other forum member based on seniority) and also some other terms and conditions (need to take up insurance to cover the full amount of the loan). It is not necessarily for the first prop. You can take the loan if your other props are not under the staff loan. Due to the high price of props these days, due to the cap, the staff loan will not cover 95% in many cases.

Actually its quite easy to get full 95% loan. My friend got it for his purchase of Archipelogo. Maybe should ask the developers who has made cash call over the last 2 years like capitaland and kepland to also offer `staff loans' on top of the 60%-80% allowed by MAS to increase LTV

[devilplate]

95% ltv so risky.....really stretch till maxxxxxx

[HP65]

95% ltv so risky.....really stretch till maxxxxxx

As recent as 3 yrs ago, I bought a house in australia with 100% LTV. Those were the days....

IMO 80% LTV is already risky.

[ysyap]

Actually CM4 on 60% LTV for 2nd mortgage is a form of protection for buyers from over-committment!

[HP65]

Actually CM4 on 60% LTV for 2nd mortgage is a form of protection for buyers from over-committment!

I thought so too. But it seems like there are ways to work around the MAS/ CM4 and the bankers....and those with interests in ppty development have creative staff loans to increase the LTV to 90-95%.