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bepgof

50-Year Home Mortgage Loan

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My long standing financial partner(UOB)triggered the first bullet - launch 50 yr mortgage loan for both private and hdb.

Other "creative" ones will follow suit.

Who win, who lose, or all get killed?

Why gov allows this?

Effects? Remind me of japan's "2 generation" mortgage loan system.

May I have yr views, pls.

Edited by bepgof
 

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If buy a house at 21, 71yr "finish" the loan.

1. CPF

- 50yo, contribution down.

- 55yo onwards, can't use cpf to buy pty. Pay cash for another 16 yrs. No retirement liao

- Meaning, if you buy pty "late", can't use cpf toward loan payment become "fast".

"Existing" rules as to max mortgage loan tenure "allowed".

HDB = 65-existing age

Banks = 70-existing age

for Joint tenancy, "younger" applicant's age applies.

2. In line with gov's "affordability" theory/arugment?

3. Sure attract the youngs, sure price up or at least maintained. Sure bubble.

 

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