property gains tax

BIG FLOP: Banks exclude to approve loans for My First Home scheme

KUALA LUMPUR, — Putrajaya’s home tenure intrigue for low-income earners has come to a harsh hindrance only a year after it was launched as banks are reluctant to risk loans with monthly repayments value some-more than half a applicant’s salary.

The My First Home intrigue launched by Datuk Seri Najib Razak final Mar offers 100 per cent financing to those aged next 35 and earning reduction than RM3,000 per month to squeeze homes value adult to RM400,000.

But Chinese-language daily Sin Chew Daily reported currently that a 30-year-loan for RM400,00 with a 4.3 per cent seductiveness rate would need a monthly

Article source: http://www.malaysia-chronicle.com/index.php?option=com_k2&view=item&id=29367:big-flop-banks-refuse-to-approve-loans-for-my-first-home-scheme&Itemid=2

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