Developers’ Home Financing Scheme May Be Capped At 6%
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.
You scour the market for the perfect home, but you should be just as diligent when scouting for a home loan deal.
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.
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