KL banks deny being tightfisted with home buyers

Kuala Lumpur

IN the continuing dispute over the accessibility of home loans in Malaysia, the country's commercial banks say more than RM42 billion (S$13.5 billion) worth of housing loans were approved in the year to end August, and that seven out of 10 loans were to first-time home buyers under the affordable homes category.

The banking sector's insistence that financing remains readily available to those that qualify for it comes amid claims by developers that stringent lending remains a significant stumbling block to improved sales in the current soft market environment.