When MAS recently announced the new debt servicing ratio rules, it was understood that they also communicated to financial institutions that they should not be offering property-related services to their clients.
The restrictions are actually quite wide, some of which are:
- No special loan rates for designated launches
- No advertising and promoting of property launches to the bank’s clients. This includes letters, emails, phone calls and SMS.
- No special previews for banking customers.
The new measures will end one common marketing avenue used by developers.
No to Bank-Developer Tie-Up (Business Times)