Two-hour housing loan approvals expected next year

KOTA KINABALU: Come next year, civil servants can expect speedy approval for housing loan applications.

According to Sabah Treasury housing loan division secretary, Datuk Shuib Md Yusop, reduced approval time was possible through full implementation of the housing loan e-Form early next year.

"If previously, a housing loan took at least 14 days for approval, next year, we hope to approve loans within two hours, provided everything is in order and applicants submit their forms online, instead of the traditional method," he said.

Shuib was speaking to reporters after launching the housing loan e-Form at the Sabah-level here on Thursday, Nov 4.

The e-Form service was launched in Peninsular Malaysia on Aug 2.

Shuib said that during the transition period applicants could use normal forms, but next year, the applications should be submitted via e-Forms on the division's website.

"Currently, supporting documents still need to be turned in manually to the division office, but maybe next year, we will allow them to be sent online through imaging," he added.

The introduction of the e-Form is expected to save time and energy, in addition to reducing errors. — Bernama