- Outstanding housing loans by the banking system expanded by 8.8% as at end-September 2017 to RM507.8 billion.
- Financing remains available for eligible borrowers, with 71% of housing loan borrowers being first-time owners of affordable homes.
- The overall housing loan approval rate remains high at 73% in 3Q 2017. Reflecting diverse economic, geographical and demographic differences across states, the housing loan approval rates range from 67% to 85%.
- During the first nine months, banks approved RM121.6 billion of house financing to about 300,000 borrowers.
Common reasons for rejection:
- Borrowers have very little residual income after taking into account monthly living expenditures and existing financial obligations;
- Borrowers have poor past track record or financial indiscipline; and
- Insufficient documentation to support ability to repay loan obligation.