For Self-Employed, may I ask if the Banks will look at which of the following in assessing Mortgage Loan/Credit Limit? 1) Assessable Income (Trade Income Minus Expenses) 2) Chargeable Income?

Assessable Income

And banks usually discount 50% of Self Employed's income.

A person with a corporate or civil sector salary of $30,000 may be able to get a property loan for this 3rm flat.

A self employed will probably need $60,000 assessable loan to qualify for the same loan, because banks usually discount income from commission based income, director pays, self employed pay.

In most cases, they will require at least 2 years NOA (available on IRAS portal. Moreover, they may ask you for the latest 3 to 6 months income as well.