Finance Minister Lim Guan Eng says action will be taken against banks if house loan applications are rejected without any concrete justification.
The government does not want banks to hinder the government’s initiative to encourage homeownership by rejecting housing loans.
“We will take action against banks if we receive reports that house loan applications are rejected without any concrete justification,” he said in his speech at the launch of the Home Ownership Campaign-Malaysia Property Expo here today. Meanwhile, in conjunction with the Home Ownership Campaign, Lim said buyers of residential properties priced between RM300,000 and RM2.5 million will be able to enjoy stamp duty exemptions on the instrument of transfer for properties, with 100% stamp duty exemption being applicable for the first RM1 million of the purchase price.
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