News about LOA

PONTIAN (August 21): A woman told the media that her husband had run away, and owed some RM100,000 to nine loan sharks, with their home as collateral.

The government has acted to cool the red hot residential property market.

KUALA LUMPUR (June 6): There will be a new mechanism to facilitate the bank loan application process for young Malaysians purchasing their first properties, Prime Minister Tun Dr Mahathir Mohamad said today.

KUALA LUMPUR (May 31): Commercial banks in Malaysia will reduce the goods and services tax (GST) rate to 0% tomorrow (June 1), from 6% at present.

PETALING JAYA (March 28): The rejection rate of housing applications has declined to below the average rate of about a quarter of all cases, said Bank Negara Malaysia (BNM) in its “Financial Stability and Payment Systems Report 2017”.

  Feeling stressed out and dejected because the housing loan applications you sent out kept getting rejected? While the banks’ risk profiling and credit lending policies may vary slightly from each other, the real culprit could often be something hidden and easily overlooked.

PETALING JAYA (Nov 27): A protracted period of property supply overhang may cause a material decline in property prices as market valuation adjusts to reflect lower demand, said Moody’s Investors Service.

Many gripe that strict policy over loan approvals is hampering the property market from its current doldrums.

KUALA LUMPUR (Nov 20): The Association of Banks in Malaysia (ABM) has reiterated that its member banks “have been and will continue to” provide home loans to all eligible borrowers, said the association in a statement issued today to rebut claims that commercial banks are imposing strict rules on home loan applicants.

Would Malaysian homebuyers be receptive to rent-to-own (RTO) schemes? While many of us may not be familiar with the concept of RTO, there is little reason for us not to welcome the idea as long as the benefits outweigh the cons.