PUTRAJAYA: The Urban Wellbeing, Housing and Local Government Ministry has been instructed to further study the feasibility of its proposal to allow developers to provide housing loan for buyers. Its minister Tan Sri Noh Omar said that in the Cabinet meeting today, the ministry was asked to conduct studies to evaluate the feasibility of the idea. “In addition, a study on providing clear and easy-to-understand guidelines for developers with moneylenders licences and house buyers will also be carried out,” he said in a statement today. Noh had last week announced that eligible developers can now apply for moneylenders licences to provide loan facilities of up to 100 per cent to property buyers. He said the move to allow developers to provide housing loans was to overcome difficulties faced by buyers especially in securing bank loans.

Source: New Strait Times September 14, 2016 11:37 UTC