Thursday, November 04, 2010

Buyers to pay more after second house

The Star reported that Malaysians have to fork out more money from today to buy more than two houses after Bank Negara slammed the brakes on property speculation.

The central bank announced with immediate effect the implementation of a maximum loan-to-value (LTV) ratio of 70% for people buying their third or more house, meaning those wanting their third property onwards have to come out with their own cash amounting to 30% of the value of the house. Read Buyers to pay more after second house in full..

Related article:
Support for Bank Negara’s housing LVR cap move

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