Welcomes Housing Loan Revolving Fund
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KUALA LUMPUR, July 17 (Bernama) — The Real Estate and Housing Developers’ Association Malaysia (REHDA) today welcomed the government’s move to look into the possible setting up of a revolving fund to facilitate housing loan approvals for people who can afford to buy houses but do not have fixed income.
REHDA president Ng Seing Liong in a statement here, said it was a good start towards opening up housing accessibility to the lower income group such as agriculture-based small businesses.
“REHDA lauds the announcement made by the Second Finance Minister Tan Sri Nor Mohamed Yakcop in making housing loans more accessible to applicants who do not have proof of fixed income.
“The revolving fund to be launched also has potential to spur demand for properties in the affordable price bracket,” he said.
He said as the bulk of unsold properties in the country comprised properties worth RM250,000 and below, the initiative could help reduce the number.
Nor Mohamed on Monday said he had discussed the matter with the banks and they have agreed to set up a revolving fund as security for deserving cases.
The government will study the mechanism carefully for the revolving fund to be included in the next budget, said Nor Mohamed.
– BERNAMA
