Bank Negara Malaysia’s (BNM) automatic six-month moratorium on all bank loans will benefit property owners with mortgages, but what happens after the moratorium ends?
The auction market in the upcoming six months will slow down due to the moratorium on loans, but those who can’t regain a strong financial footing within that six months may end up seeing their properties go into foreclosures, says AuctionGuru.com.my executive director Gary Chia.
“The critical timing will be at the end of this year,” he tells EdgeProp.my.
Media Title: EdgeProp.my
Date: 5 Jun 2020