Govt mulls Housing Bank to assist lower, middle income group
ABDUL RAHMAN: Housing Bank will be more focused and the conditions set would not be as stringent as those set by commercial banks
The Urban Wellbeing, Housing and Local Government Ministry is mulling to set up a Housing Bank to provide housing loan facilities to the lower and middle income group.
Issuance of money lending licence to selected institutions is another initiative being considered by the ministry, to enable the target group to own a house.
Its minister Datuk Abdul Rahman Dahlan said the Housing Bank would expedite the housing loan process.
"They will be more focused and the conditions set would not be as stringent as those set by commercial banks.
"Commercial banks have their own housing loan schemes but they have other considerations such as profit, risk, quota and funds," he told reporters after attending the 68th Local Government National Council meeting here Thursday.
The meeting was chaired by Deputy Prime Minister Tan Sri Muhyiddin Yassin.
Abdul Rahman said the decision on setting up the Housing Bank would be made after the Budget 2015 speech.
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