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TDSR pushes some to offshore loans

Banks outside S'pore not obliged to report to credit bureau here

As far as the Monetary Authority of Singapore (MAS) is concerned, banks in Singapore need to obtain a written declaration from the borrower on all outstanding credit facilities that would include loans from overseas banks and conduct verification checks, an MAS spokesman said - PHOTO: REUTERS

[SINGAPORE] For Singaporeans still hoping to snap up overseas properties despite having their borrowing capacity curbed by what is known as the TDSR (total debt servicing ratio), more may be considering offshore loans to finance their purchases. "A handful of clients are looking at overseas