Minister Tan Sri Noh Omar said the Cabinet has also directed his ministry to look into the effectiveness of the policy of allowing developers to give out loans. This, he said, was necessary to determine if the policy would really help the people finance their house purchase. He said the Cabinet wanted the policy’s guidelines to be clear and easily understood by both the lenders and borrowers. He explained that allowing developers to offer loans was an existing policy. Several companies, he said, had already been granted moneylenders’ licences so that they could offer bridging loans for buyers to cover the deposit payment for their houses.

Source: The Star September 14, 2016 22:07 UTC