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One Third of Home Buyers Do Not Understand TDSR

The TDSR or Total Debt Servicing Ratio cooling measure has been highly effective in cooling down the market. According to this article by PropertyGuru - http://www.propertyguru.com.sg/property-management-news/2014/5/37778/1-in-3-home-buyers-do-not-understand-tdsr-survey, a UOB survey has shown that one out of three home buyers do no understand TDSR. Borrowers know less about how TDSR affect them than they think. TDSR takes into account all personal debt including vehicle loans and credit card bills when determining how much a borrower can loan to invest in property.

Without this understanding, buyers may find that they don't qualify for a loan for the property they desire and have to consider downsizing their investment or even give up the idea altogether. They may aspire to own a property in a good location and growth potential only to find that its out of their financial reach. The best way to start the property search is for buyers to visit their banker and get a better idea of how much they can borrow for a new property based on their current debt situation and to consider their overall financial plan carefully.

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