LBS wants special end financing scheme
KUALA LUMPUR: LBS Bina Group Bhd is hopeful that the government will implement policies to empower first-time house buyers in the upcoming 2019 Budget.
Its managing director Tan Sri Lim Hock San said the property developer remained committed to helping people realise their dreams of owning a home by providing more affordable houses.
“Our experience in the property development industry, which spans more than two decades, has allowed LBS to understand the evolving needs of house buyers,” he said on LBS’ budget wishlist, here, yesterday.
Lim said LBS had proposed the introduction of a special end financing scheme to ease the high rejection rate due to more stringent loan financing rules.
“We have seen potential house buyers who encountered either a loan rejection or were only eligible for lower loans.
“We believe those in the middle and lower income groups will benefit from the special end financing scheme,” he added.
LBS hopes to see more flexible end financing guidelines with the support of Bank Negara Malaysia.
He said the flexible guidelines would empower first-time house buyers’ financing capacity and bring them closer to realising their dream of owning a home.
He said there were growing families and, thus, the need for easier access to financing to enable them to upgrade houses and secure better quality of life.
“We hope Bank Negara will consider increasing the tenure of housing loans from 35 years presently to 40 years.
“We hope the administration will consider an exemption for stamp duty on loan agreements for properties below RM500,000, and greater flexibility with housing loan policies,” he said.
Lim said the company pledged its support towards efforts to promote better quality of life for the rakyat and a stable and thriving economy.
“Collaboration between the public and private sector is key in raising the local property sector to meet world-class standards. We look forward to continue playing an active role on this front,” he said.