A nightmare, that is what it is.
Affordable but still sacrifices need to be made.
Remember this when you go property hunting!
Not the easiest or smartest decision.
Will first-time homebuyers benefit from it?
As home values rise over the years, more Malaysians are sitting on equity in their homes without knowing it. This is great news for homeowners, but how can one leverage on this to improve their finances?
The Ministry of Urban Wellbeing, Housing and Local Government said that a maximum loan interest of 6% is considered a fair rate for the developers’ home financing scheme.
REHDA is suggesting that the Ministry of Urban Wellbeing, Housing and Local Government offer the property developers’ home loan financing only for purchase of properties below RM500,000.
Property developers with moneylending licence can offer financing for homebuyers with interest rates capped at 12% p.a. for borrowers with collateral, and 18% for ones without.