Bank Negara: 35 Years Housing Loan Tenure Sufficient

KUALA LUMPUR: Bank Negara Malaysia (BNM) says the maximum housing loan tenure of 35 years is more than sufficient for borrowers to settle their housing loans by their retirement age. It said on Tuesday if the housing loan is offered when the borrower is 25 years old, a financing tenure of 35 years would extend … Read more

Mah Sing Seeks Easier Loan Approval For First-time Home Buyers

KUALA LUMPUR, Sept 19 (Bernama) — Mah Sing Group Bhd is urging the government to consider several initiatives including relaxing loan approvals in Budget 2017 for first-time home buyers. Mah Sing Group Managing Director Tan Sri Leong Hoy Kum urged the banks to consider relaxing loan approvals and provide up to 95 per cent financing … Read more

Rehda: Loans Should Be For Below RM500,000Homes

PETALING JAYA: The Real Estate and Housing Developers’ Association Malaysia (Rehda) wants the proposed “moneylender licences” for eligible housing developers be capped at properties below RM500,000 to assist first-time homebuyers and genuine upgraders to afford homes. Rehda president Datuk Seri FD Iskandar said many genuine housebuyers had problems coming up with their downpayment when financial … Read more

Developer’s Loan Unlikely To Boost Housing Market

The government’s decision to permit property developers to grant housing loans to home buyers who cannot acquire a full mortgage from commercial banks is unlikely to have a major positive effect on Malaysia’s residential market, according to experts. AllianceDBS analyst Quah He Wei said the impact on the local property sector would be minimal and … Read more

Penang Says No To Higher Interest Rate

BUTTERWORTH: The Penang government will not approve housing projects from developers who lend money to buyers at a higher interest rate than the banks. Chief Minister Lim Guan Eng said his administration does not agree with such a proposal as the suggestion will increase the people’s hardship. He said some borrowers face difficulties in repaying housing … Read more

Demolish Illegal Structures, Building Owners Warned

JOHOR BARU: The Johor Baru Central Municipal Council (MPJBT) has urged owners of premises that have received notices to demolish illegal structures at their buildings to take heed or risk the council taking action. MPJBT secretary Abdul Malik Ismail said the owners were advised to take down the illegal structures such as extended zinc roofing … Read more

The Government Allow Developers To Be Moneylenders

KUALA LUMPUR: Eligible developers can now apply for moneylenders licences to provide loan facilities of up to 100% to property buyers. The licence will be issued by the Urban Well-being, Housing and Local Government Ministry under the Moneylenders Act 1951 (Amendment) 2011. Its minister Tan Sri Noh Omar said they are allowing developers to provide … Read more

Immediate Impact From Property Developers’ Financing Nod Small

KUALA LUMPUR: The government’s move to allow property developers to provide up to 100% financing to their buyers is a positive surprise as it is an additional option for the developers to boost sales, says CIMB Equities Research. The licence is regulated under the Moneylenders Act 1951 and Pawnbrokers Act 1972, and does not involve … Read more

New Schemes To Help Selangor Residents Buy A Property

THE state government has introduced several additional schemes to help Selangor residents buy a property; including programmes for newlyweds and retired police officers. “We have set aside RM7mil for the Smart Saver scheme to help newlyweds save more money. “Under the scheme, a couple will be allowed to rent a state-owned house for a maximum … Read more