So, in comes the developer with the “differential sum loan” which appears to help ABC in buying his dream home. The interest rates for this differential sum loan has yet to be announced although it is capped at, “not exceeding 18%”, under the Money Lenders Act. We have calculated a few scenarios of what is the monthly repayment required for a RM50,000 loan under this differential sum loan. These aspiring house buyers can use this opportunity to hunt for good rental bargains and conserve their “war chest”. Chang Kim Loong is the secretary-general of the National House Buyers Association: www.hba.org.my, a non-profit, non-governmental organisation manned by volunteers.

Source: The Star September 17, 2016 00:52 UTC