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Nod for RM57b in loans for first-time house purchasers

 | December 7, 2017

These loans were given out to 142,558 applicants from January till September this year.

Lee-Chee-Leong-first-time-house-purchasers-1KUALA LUMPUR: Housing loans amounting to RM57 billion have been approved by banking institutions to 142,558 applicants for first-time house purchases from January until September this year.

Deputy Finance Minister Lee Chee Leong said since 2010, the government and Bank Negara Malaysia (BNM) had introduced various schemes and measures to facilitate home ownership in Malaysia for eligible borrowers, especially for the purchase of first homes.

“Among them are step-up financing schemes PR1MA, MyHome, Rumawip, Selangorku Homes, 1Malaysia Civil Servant Housing (PPA1M) and 1Malaysia People’s Friendly Homes.

“The cost of buying houses have been reduced through the MyDeposit Scheme by providing 100% stamp duty exemption on the housing loan for purchase of houses worth RM300,000 and below,” he told the Dewan Negara sitting here today.

He was replying to Senator Yong Wui Ching who wanted to know the bank loan approval statistics for first-time house purchase from 2012 until now.

Lee added BNM also provides the Housing Watch website at http://www.housingwatch.my

This contains the latest information on real estate in Malaysia, including housing loan statistics, government aid schemes for youths and first-time home buyers and advisory services for housing loans.


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