Buying a house should not land buyer in financial difficulty, says Bank Negara

  • 📰 fmtoday
  • ⏱ Reading Time:
  • 26 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 14%
  • Publisher: 72%

Loans Loans Headlines News

Loans Loans Latest News,Loans Loans Headlines

Bank Negara Malaysia deputy governor says the percentage of income spent to service the mortgage must not exceed the person’s financial capacity, and they must be able to pay for other obligations on top of this commitment.

KUALA LUMPUR: Malaysia is committed to providing adequate and affordable housing, said Bank Negara Malaysia deputy governor Abdul Rasheed Ghaffour.

“We cannot, in good conscience, overburden and cause anyone to enter into financial difficulty in pursuit of owning a home. This fundamentally goes against the intention of owning a house. Abdul Rasheed added that affordability was a function of two things: the income of the individual and the price of the house.

He also said that developers, who were the core players in the housing market, had a significant role to play in providing the supply of homes for the public at an affordable price point.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

That is what deputy bank negara said ,but there is local bank wld be known as leech bank don't bother follow all that as long they got the profit

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 5. in LOANS

Loans Loans Latest News, Loans Loans Headlines