With the impending arrival of Federal Budget 2019, StarProperty.my invites the public and stakeholders of different industries to contribute their thoughts on how should the government spend or save the money.
PETALING JAYA: LBS Bina Group Bhd (LBS) urged the government to introduce a special end-financing scheme, relax the lending guidelines, increase the tenure of housing loan and allow for stamp duty exemption to empower the first-time homebuyers in the upcoming tabling of Budget 2019.
“As a Malaysian property developer, we remain committed to helping more people realise their dreams of owning a home by providing more affordable homes,” said LBS group managing director Tan Sri Lim Hock San.
LBS proposed the introduction of a special end financing scheme to ease the high loan rejection rate due to stringent loan financing rules.
“In our experience, we have encountered many interested homebuyers who experienced either loan rejection or were only eligible for lower-than-expected loans. We believe those in the middle and lower income groups will benefit from the special end financial scheme as it eases the financial burden they face,” he said.
LBS also hoped to see more flexible end-financing guidelines with the support of Bank Negara Malaysia (BNM). This will empower first-time homebuyers’ financing capacity and bring them closer towards realising their dream of owning a home.
The township developer also shone the spotlight on growing families and the need for easier access to financing to upgrade homes for a better quality of life.
“We also hope BNM will consider increasing the tenure of housing loans from the present 35 years to 40 years. Our final suggestion is that we hope the administration can consider an exemption for stamp duty on loan agreements involving properties under RM500,000, and greater flexibility with housing loan policies,” Lim said.
Budget 2019 Wishlist 001: Malaysians want cheaper homes
Budget 2019 Wishlist 002: A property wishlist for the new government
Budget 2019 Wishlist 003: Budgeting for the people
Budget 2019 Wishlist 004: A fresh boost for 2019
Budget 2019 Wishlist 005: It’s easier to look back than to look into the future
Budget 2019 Wishlist 006: New initiatives for first-time homebuyers
Budget 2019 Wishlist 007: Delivering affordable housing to the public
