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3 Questions to Ponder About Total Debt Service Ratio for Borrowers in Singapore

Total Debt Service Ratio (TDSR) became a household term for mortgage borrowers of properties in Singapore. This is a new mortgage framework introduced by the Monetary Authority of Singapore (MAS) to strengthen the crediting practices of financial institutions in Singapore.

Four years after the Global Financial Crisis that almost resulted in a meltdown in the global banking system, Singapore introduced the TDSR framework on 28 June 2013 to regulate all mortgage issued by financial institutions in Singapore. A weak banking system allows mortgage borrowers easy access to borrowing. Often, borrowers tend to borrow beyond their means and things will spiral beyond control when property prices continue to rise surpassing previous peak. This is because when property prices start to drop, a potential crisis awaits.

TDSR is conceived as a pre-emptive move by the Singapore government to put a stamp on the rising property prices at that time by tackling the root of this problem; easy access to cheap money due to a low interest rate environment. For the man on the street, this is an unpopular move but fast forward to present, the measure has achieved its intended purpose.

Local financial institutions in Singapore are among the strongest financial institutions in the global arena and this is backed by the strongest ratings from international ratings agencies such as Moody’s, Standard and Poor’s, and Fitch.

Although stricter loan regulation due to TDSR means that financial institutions have to turn away borrowers that cannot meet the minimum requirement, these financial institutions take the opportunity to expand their business to regional countries such as Malaysia, Indonesia, Thailand and diversify their business portfolio. More importantly, the country has managed to keep the runaway property prices under control and instil a more responsible mindset in borrowers.

In the last twelve months, there were repeated calls by property developers to the government to remove measures that stymie the demand for property. TDSR is often look upon as the primary tool that reduces the number of mortgage approved by financial institution and this has resulted in lesser demand for property. However, the government has responded that this is not the right time to remove the TDSR yet. As TDSR looks to stay on for sometime, let’s take a look at 3 things whether TDSR really affects you:

1) Does TDSR affects everyone?

Buyers of properties who do not apply mortgage are not affected by TDSR. Moreover, only financial institutions regulated by MAS need to abide to the TDSR framework. Hence, borrowers can consider taking mortgage from foreign or offshore banks.

2) How do I increase the amount that I can borrow?

TDSR looks at the proportion of your monthly debt obligation compared to your monthly income. For employed borrowers, you can consider including other liquid financial assets (i.e. Singapore dollar and coins, including deposits), and a specified list of other assets, namely collective investment schemes, business trusts, debentures or stocks, structured deposits, foreign currency notes and coins (including deposits) and gold, which have a secondary market or reasonable basis for valuation and to the extent that the asset is unencumbered.

3) Are there any exemptions to TDSR?

TDSR is exempted if the loan is for an owner- occupied property and where:

(I) the option to purchase (OTP) the residential property was granted prior to 29 June 2013;

(ii) the residential property is the only property owned by the borrower (either by himself or jointly);

(iii) the borrower is one of the occupiers of the residential property;

(iv) the borrower does not have any outstanding loan for the purchase of any other property or the re-financing of such a loan, apart from the residential property being re-financed; and

(v) the borrower does not have any outstanding loan (either in his own name or jointly with another borrower) otherwise secured on any property, including the residential property being re-financed, or the re-financing of such a loan.

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10 Essential Tech Gadgets for Travelers: Stay Connected and Organized

In today’s fast-paced world, where adventures are just a flight away, staying connected and organized is not just a luxury—it’s a necessity. Imagine being lost in the winding streets of a foreign city, your phone’s battery blinking its final goodbye as you frantically search for a power outlet. It’s the modern traveler’s nightmare.

But fear not, for the era of travel woes can be a thing of the past with the right tech in your backpack. From the deserts of Sahara to the bustling streets of Tokyo, these 10 essential tech gadgets are your trusty sidekicks that ensure your journey is as smooth as the serene waters of the Maldives.

Cue in the game-changing devices that transform travel into a seamless experience: portable chargers that breathe life into your gadgets, noise-canceling headphones that turn chaotic terminals into personal retreats, and smart luggage that keeps you connected and your belongings secure. As you gear up for your next escapade, let your curiosity wander, but keep your tech arsenal ready.

Dive into our curated list that promises not just to spark your interest but to ignite a burning desire for wanderlust, armed with the best gadgets to stay connected, organized, and ready to explore the world at a moment’s notice. Let’s embark on this journey together, turning every travel challenge into a checkmark on your adventure list.

1. Portable Chargers and Power Banks
In the age of digital connectivity, a dead device can mean missed directions, lost photos, or worse, an inability to book last-minute accommodations. This is where portable chargers and power banks become indispensable travel companions. For those long travel days or off-the-grid adventures, high-capacity, durable portable chargers ensure you remain just a button away from what you need.

When choosing a power bank, consider one with USB-C compatibility for fast charging and multiple ports to charge several devices simultaneously. Look for options that balance capacity (measured in mAh) with portability to find the perfect travel partner that keeps your digital life powered up, no matter where you are in the world.

2. Universal Travel Adapters
Venturing across borders means dealing with varying electrical outlets, making a reliable travel adapter an essential tool in your tech arsenal. The key to selecting a universal travel adapter lies in its versatility—opt for one with built-in USB ports to charge multiple devices at once and ensure it’s compatible with the electrical standards of the countries you’re visiting.

Features like surge protection can also safeguard your gadgets from unexpected voltage fluctuations. Among the highly rated adapters are those that offer a compact design without sacrificing functionality, ensuring that no matter where your travels take you, you’ll always have the power you need.

3. Noise-Canceling Headphones
The value of noise-canceling headphones is unparalleled, especially when it comes to creating a sanctuary of peace amidst the chaos of travel. By reducing ambient noise, these headphones allow you to immerse in your audio world, whether it’s relaxing music on a flight or a gripping audiobook during a long layover.

The choice between wired and wireless models hinges on personal preference and the devices you’ll connect to. For travelers, compact and travel-friendly models that offer long battery life and high-quality sound without taking up too much space in your carry-on are ideal. Look for foldable designs and cases that protect your headphones during transit.

4. Compact Portable Wi-Fi Hotspots
Reliable internet access is non-negotiable for the modern traveler, from navigating new cities to staying in touch with loved ones. Portable Wi-Fi hotspots offer a secure and convenient way to stay online, bypassing the risks associated with public Wi-Fi networks. These compact devices work by tapping into cellular networks, providing a private, high-speed internet connection anywhere in the world.

When choosing a hotspot, consider global compatibility to ensure connectivity across your destinations, along with battery life to support full days of exploration. Recommendations often include hotspots with flexible data plans, allowing you to pay for exactly what you need without exorbitant roaming fees.

5. Smart Luggage
Smart luggage is revolutionizing the way we travel, integrating technology directly into our travel gear. Features like GPS tracking, built-in scales, and USB charging ports not only add convenience but also peace of mind, knowing your belongings are secure and your devices charged.

However, it’s important to stay informed about airline regulations regarding smart luggage, especially concerning battery removal. Innovative smart luggage options on the market today offer a blend of technology and practicality, ensuring compliance with flight safety standards while providing travelers with the benefits of modern tech. Examples include carry-ons that can weigh themselves, alert you if you’re leaving them behind, or even follow you through the airport.

6. Digital Cameras and Action Cams
While smartphone cameras continue to improve, the unique benefits of digital cameras and action cams for capturing travel memories cannot be overlooked. Dedicated devices often offer superior zoom capabilities, better performance in low light, and more detailed images. Action cams, on the other hand, are perfect for adventurous travelers looking to capture dynamic videos in rugged conditions.

When selecting a camera for travel, prioritize lightweight and compact models that don’t compromise on image quality. Look for features like WiFi connectivity for easy sharing, waterproof casings for underwater exploration, and interchangeable lenses for versatile photography on the go.

7. E-Readers and Tablets
For avid readers, carrying a library of books in a single, slim device is one of the true joys of technology. E-readers and tablets have transformed how we read while traveling, combining convenience with functionality. When comparing devices, consider the screen type for outdoor readability, battery life for extended journeys, and storage capacity for your library.

Waterproof models offer an extra layer of protection against accidental spills or beach reading sessions. With their compact size, extended battery life, and ability to store thousands of books, e-readers and tablets are indispensable for travelers who love to read.

8. Portable Bluetooth Speakers
Music has the power to elevate any travel experience, whether it’s a beach party or a solo hike. Portable Bluetooth speakers bring this joy to any location, enabling you to share your favorite tunes on the go.

When choosing a speaker, look for key features such as waterproof and dustproof ratings to withstand outdoor adventures, along with a battery life that can keep the party going. Compact yet durable speakers with high-quality sound ensure that your music is always part of the journey, making every moment memorable with the soundtrack of your choice.

9. Travel Apps and Digital Organizers

Navigating new destinations, booking accommodations, and planning itineraries have never been easier thanks to a plethora of travel apps and digital organizers. Essential apps cover everything from real-time navigation and language translation to local recommendations and flight tracking.

Digital organizers keep your travel documents, itineraries, and bookings in one accessible place, simplifying travel logistics. Incorporating apps like Google Maps for navigation, TripIt for itinerary management, and Booking.com for accommodations can transform your travel experience, ensuring you spend less time planning and more time exploring.

10. Secure and Convenient Financial Management Solutions
Managing finances securely and conveniently is a critical aspect of traveling smart. Innovative financial products like SoFi’s fee-free checking accounts offer travelers a hassle-free way to access their money abroad without worrying about foreign transaction fees.

These accounts often come with robust online banking features, making it easy to monitor spending, transfer funds, and manage accounts anywhere with internet access. Choosing a bank account designed for travelers can alleviate financial stress on the road, allowing you to focus on the experiences ahead with peace of mind.

Wrapping Up: Tech-Enhanced Travels for the Modern Explorer
From capturing every moment in stunning clarity to enjoying your favorite tunes under the stars, these 10 essential tech gadgets for travelers promise to enhance your travel experience. As we navigate the world, the balance between staying connected for convenience and unplugging for relaxation becomes crucial.

Investing in the right technology can make all the difference, ensuring that every journey is as seamless as it is memorable. So before you embark on your next adventure, consider how these gadgets could not only simplify your travels but also enrich them, allowing you to explore the world with confidence and ease.

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Get Rid of Financial Instability with Bad Credit No Guarantor Loans

No days can be frustrating in your life than the days of financial scarcity. To run your family in a comfortable manner, you need a stable income and enough savings into your bank account so that you can easily combat with any urgent situation. However, in case you do not have such financial backup, you find very difficult to execute your financial requirements and suddenly, you need a financial help as soon as possible. Asking money from your relative or friends may not fulfil your aspirations or banks are always reluctant to give money to the bad credit borrowers. To cope with this tough situation, you should opt for no guarantor loans.

These are the loans where the borrowers get funds immediately to their bank account without going through the cumbersome procedure. Everything is clear and straight in these types of loans. In fact, they are exceptional in transforming your bad credit score into a good one, but you have to keep these things into consideration:

Apply for Small Borrowed Sum

The first thing that you should do is to request for the small amount over a short period. Try to use these loans when a financial emergency is mounting on you and no other finance source can save you. Moreover, the small amount insists on the lenders to not to put many conditions on the borrowers. It helps them in getting sufficient funds instantly and that would be without collateral and guarantor. Particularly, in the condition of bad credit rating, it becomes more important to borrow loans without guarantor for a small amount.

Tell Truth While Filling Application Form

The days are gone when people had to collect many papers to apply for a loan. These days, the lenders are only asking for online application where minimum or no paperwork is required. They can send their requests for the bad credit loans no guarantor directly on the lender’s website with no hassle. When the lender is giving you a comfort of applying online, it is your responsibility to tell the truth while filling out the application form. You should put genuine information on the form because it shows your credibility to the lender, which can easily provide you money despite bad credit.

Search Out A Reliable Lender

It is another important thing that you need to follow is to find out a reliable lender, who can understand your financial compulsion and can facilitate you with loans bad credit no guarantor. Choosing the right lender is not easy but an online research may make a way for you. It gives you an idea on which lender is providing interest rates that are more competitive and flexible repayment terms with the intention that you can easily repay the loan amount within the given schedule. By repaying the borrowed sum sincerely, it puts a big impact on your credit record.

Therefore, the time has come for you to remove financial turmoil from your life and to bring your credit score back on the track of satisfaction. Just follow these things and regain financial stability into your life through no guarantor loans.

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