Buyers of defective houses appeal to BNM

Taman-Perdana-Raya,-KarakKUALA LUMPUR: Four house buyers of an abandoned apartment development, who have been blacklisted for not repaying loans are appealing for Bank Negara’s assistance to get them off the blacklist.

The four, who bought houses in Taman Perdana Raya, Karak, have sent a memorandum to Bank Negara asking for help as they are unable to get any other loan because of being blacklisted.

Malaysiakini reported Cameron Highlands Parti Socialis Malaysia Secretary Suresh Kumar, who is assisting these buyers, as saying that the four stopped paying the housing loans when they found out the apartment units they had purchased would not be habitable.

“The authorities refused to give a certificate of fitness (for occupation of a building) because it has 26 defects.

“The developer refused to return the buyers’ money. Some of them (the buyers) had been serving the loan from 2003 to 2008 and then they stopped paying it since they cannot live in the house,” Suresh told Malaysiakini.

Construction of the apartment started in 2003 and was completed in 2008.

Suresh said the lives of the four would be made easier if Bank Negara were to take them off the housing blacklist so that they could take other loans.

He said 14 of 20 buyers of the apartments had taken up the offer of the developer to settle the bank loans. The other six want back everything they have paid.

Only four of the six had taken bank loans.

Suresh said they had contacted Bank Negara but were told that since there was a loan that had not been paid, BNM could not do much.

However, he said, Bank Negara had certain powers to classify a borrowing as a special case.

He said the four could be taken off the blacklist and listed under special cases, which would enable them to apply for other loans.