Banks rejecting up to 70% of home loan applications, says deputy minister | The Malaysian Insight

Deputy Housing and Local Government Minister Raja Kamarul Bahrin says up to 70% of home loan applications are rejected by banks. – The Malaysian Insight pic by Afif Abd Halim, July 2, 2019.

BANK loan rejection rates for house buyers stand between 60% and 70%, Deputy Housing and Local Government Minister Raja Kamarul Bahrin Shah told the Dewan Rakyat today. He said the government could make efforts to control houses prices but there is no guarantee banks would give out loans to first-time house buyers.

Effective July 2018, access to full reports will only be available with a subscription. Sign-up now and enjoy one week free access!

Source: Loan Digest (loandigest.net)

Let those rogue developers feel the pinch. If they overpriced their properties, banks will not provide the loan. Banks favour developers with good track records.

Yep, true. Not only housing loans, but other loans too. Some come into the fold with pre-determined decisions-'not to lend'. Some ask the dubest of questions-'why not contributing to EPF', even after explanation given to the moron tht one is working overseas.

This comes to no suprise. It's maybe higher since house prises will continue to climb. Even higher after most of the projects halted due to change of gov was re-life back.

jedimaster909 It could be 80% or 90% but the reasons could be telling. The reality is that most Malaysians do not qualify because of low disposable incomes. They are already burdened by the high cost of living.

NathanNadeson Come on lah Deputy Minister Kamarul Bahrin. Banks have been in biz for a very long time. They will not and should not lend to those who are likely to be a credit risk. Banks went thru the huge NPL problem which nearly bankrupted us in the late '90s. Do you want a repeat?

Pointing finger the wrong way. Takkan la want the bank to loan 40 or 50 years for housing loans. Plus, it not normal for property developers to keep pushing for their sky high price. I think KV developers should drop their price by a min 30%.

Malaysia Latest News, Malaysia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Moody's: Digitisation and regulatory support drive growth of Islamic finance in Malaysia, Indonesia | Malay MailSINGAPORE, July 1 — Digitisation, along with continued government commitment to develop Islamic banking, will support the growth of the sector in both Malaysia and Indonesia, according to Moody’s Investors Service. “Backed by strong profitability, Islamic banks in both Malaysia and Indonesia...
Source: malaymail - 🏆 1. / 86 Read more »

Declaring assets against Islamic teaching, says PAS deputy president | The Malaysian InsightStatutory declaration creates jealousy, while its already required by the Inland Revenue Board, so why bother, Tuan Ibrahim Tuan Man asks. abdulhadiawang .. bagi mai dalil sat .. nak la juga ambik tau pasai benda ni hijacking the religion again ... if god give us wealth... kau naik basikal lah pergi parlimen.
Source: msianinsight - 🏆 8. / 63 Read more »

Only 10,000 e-hailing drivers with PSV licence as deadline looms, says minister | The Malaysian InsightOnly 10,000 e-hailing drivers with PSV licence as deadline looms, says minister
Source: msianinsight - 🏆 8. / 63 Read more »

Hire more from OKU community and empower them, says Penang deputy chief minister | Malay MailBUTTERWORTH, June 30 — Both government and private sectors have a responsibility to empower people with disabilities (OKU), by increasing the number of work opportunities for them.  Penang Deputy Chief Minister II P Ramasamy said the employment of people with disabilities could be...
Source: malaymail - 🏆 1. / 86 Read more »

Najib rejects idea of AirAsia taking over Malaysia Airlines | The Malaysian InsightFormer PM says the national carrier should remain with the government. wah .. sounds like you are the next 'to be' PM ? Wasn’t it MaS was under AirAsia during your reign? I help u ... u help me
Source: msianinsight - 🏆 8. / 63 Read more »