The Housing and Local Government Ministry has proposed that banks also take into account all other incomes of housing loan applicants to address the high rate of rejections of applications from people in the middle- and low-income groups.
Minister Zuraida Kamaruddin said the suggestion might provide for credit rating flexibility especially with regard to the applications for housing loans from the B40 and M40 groups.
“Although the applicants state their main income, it would be appropriate to consider their second or third income (without a salary slip) such as from business to determine the criteria for repayment of the loan.
