The RM1 billion Bank Negara Malaysia (BNM) Fund for Affordable Housing has subsidised 1,100 home purchasers as at September, according to the central bank’s director of financial surveillance Qaiser Iskandar Anwarudin.
At a media briefing yesterday on household indebtedness, Qaiser said 1,100 homebuyers with loans totalling RM180 million have been approved by lending banks since the launch of the fund at the beginning of the year.
Under the central bank funding scheme, the housing loan finance rate is capped at 3.5% for these borrowers, and the spread between 3.5% and market rate is funded by the RM1 billion fund.
Media Title: The Edge Financial Daily
Date: 25 Oct, 2019