No tightening policy for first time buyers of affordable homes
Published on: Wednesday, May 27, 2015
Kuala Lumpur: Bank Negara Malaysia (BNM) Tuesday clarified that there is no tightening policy for first time buyers of affordable homes."The tightening requirement is for the third purchase of residential properties to avoid the risk of over-leveraging and an over-indebted situation in the country," Governor Tan Sri Dr Zeti Akhtar Aziz said. "All borrowers need to pass the affordability assessment. We are doing this to guide banks to avoid the risk of over-leveraging and an over-indebted situation," she said. Stay up-to-date by following Daily Express’s Telegram channel.
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Meanwhile, Zeti said the country is still on a steady growth path with the gross domestic product (GDP) for the year expected to be on average, five per cent. – Bernama
