MAS refines TDSR rules for refinancing existing property loans

SINGAPORE (Sept 1): The Monetary Authority of Singapore (MAS) on Thursday fine-tuned the refinancing rules under the Total Debt Servicing Ratio (TDSR) framework to allow borrowers more flexibility in managing their existing debt obligations.

MAS said in a statement that this is in response to feedback from some borrowers who are unable to refinance their existing property loans owing to the application of the TDSR threshold of 60%.

With immediate effect, borrowers for all owner-occupied residential properties, including those bought after the introduction of TDSR, may be exempted from the TDSR framework when he refinances his housing loan.

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