TDSR pushes some to offshore loans

[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 loans," said a private banker.

Another relationship manager at a foreign bank said that he has referred some clients to the mortgage department of the bank outside of Singapore. Both could not be identified due to client confidentiality.