He said he still felt that the rules were strict despite BNM’s assurance that they had “relaxed a bit” under Pakatan Harapan.
“I hope BNM can look at other channels and conditions for those who want to buy their first homes,” he said in the Dewan Rakyat today.
He also spoke of those running businesses who may face problems getting loans as they do not have income statements.
“We have discussed progressive payments (with BNM),” he said, adding however that the central bank is still looking into the issue.
Lim was responding to Mohd Salim Mohd Shari (BN-Jempol), who asked him if he was aware of the conditions imposed by banks on first-time home buyers.
Salim also said that new night market traders may not have pay slips to show banks for loans.
“For these workers, the banks may reject (their applications),” he said.
Lim said his ministry had also asked BNM to stretch the loan repayment period to 40 years, among other measures.
He told the Dewan Rakyat earlier that BNM and other financial institutions had taken steps to help first-time home buyers including setting up RM1 billion in funds for affordable homes with a 3.5% interest rate for 40 years or until the age of 70.