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Annual Licence Fee for All Businesses and Companies
| Size of Estate Agent | Annual Licence Fee |
|---|---|
| 1 to 10 salespersons | $300 |
| 11 to 30 salespersons | $600 |
| 31 to 50 salespersons | $1,000 |
Loan-to-Value (LTV) Limits for Bank Loans
| Outstanding Housing Loans | LTV Limit |
|---|---|
| 0 | 75% or 55% |
| 1 | 45% or 25% |
| 2 | 35% or 15% |
Apply the lower LTV limit if the loan tenure exceeds 30 years, or if the loan period extends beyond the borrower’s age of 65 years.
Calculating Age for Joint Borrowers
| Borrower | Age | Gross Monthly Income |
|---|---|---|
| Mr. Tan | 60 | $8,000 |
| Alvin | 30 | $10,000 |
Their income-weighted average age is:
(60*$8,000 / ($8,000 + $10,000)) + (30*$10,000 / ($8,000 + $10,000)) = 26.67 + 16.67 = 43.34
(60*$8,000 / ($8,000 + $10,000)) + (30*$10,000 / ($8,000 + $10,000)) = 26.67 + 16.67 = 43.34