MAS to make home loans more transparent

MAS hopes to work with banks to make mortgages more transparent for borrowers. ST PHOTO: LIM YAOHUI
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SINGAPORE - Sky-high credit card debt that leaves home owners struggling to pay their mortgages can often mean default is not far down the track, but one bank has a pleasant surprise in store for some of these borrowers.

They were offered a chance to reprice their loans at a lower interest rate even though the mortgages were still bound by a lock-in period that usually prevents this.

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