Banks cut lending to shoe-box buyers:

Yahoo! News Singapore, 15 Feb 2012 With the prospect of a drop in property prices looming large on the horizon, Singapore banks are already tightening their lending criteria. Prospective buyers of so called shoe-box units are already discovering that access to funding is proving to be a challenge. An employee of CIMB who declined to be named told PropertyGuru that financing for shoe-box units is simply no longer being offered. "It's just too risky right now" he said, adding that he understands most banks are not even considering applications from individuals with a substantial deposit and perfect credit history.

Full article: http://singaporenewsalternative.blogspot.com/2012/02/bank...

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