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.
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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%.