BY LEE YAN LI
Ho hopes the Government can consider revising the percentage of funds that can be uses to purchase their first house.
WHEN it comes to retirement, a house always comes to mind, no matter whether one decides to become a tenant or a homeowner.
It is no wonder that more people are looking into the Employees Provident Fund (EPF), a compulsory savings plan and retirement planning for private sector workers, as a source of funding for buying a house.
To help more young or first-time homebuyers buy their first house, Mah Sing chief executive officer Ho Hon Sang has suggested that the Government consider revising the percentage of funds in EPF Account One and Two.
“By increasing the funds in Account Two from the current 30% to 40% of EPF balance, EPF contributors can have more funds in Account Two to pay the down payment of their property purchase, reduce housing loan and pay monthly housing loan instalments,” he said.
Loan financing is another concern in lieu of the current softening property market.
While the recently announced Budget 2017 has partly addressed the woes of first-time homebuyers, Ho urged the banks to consider relaxing loan approvals by offering flexibility to lend up to 95% financing for first homebuyers.
He added that a higher debt service ratio of 70% to 80% for first-time housebuyers can help relief the purchasers’ pressure on home financing.
Mah Sing is currently presenting its M City and Lakeville Residences at the latest StarProperty.my Fair at G Floor, Centre Court@The Curve.
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The attractive features include The Luxe by Macly Equity Sdn Bhd, TTDI Segaris by Naza TTDI SdnBhd, as well as Begonia, Sefina Mont Kiara and Verdi Eco-Dominiums by UEM Sunrise Bhd.
Homebuyers will also be able to learn about the offerings by Tropicana Corporation Bhd, Agile PJD Development Sdn Bhd and Eupe Bangsar South Development (JV) Sdn Bhd.
Visitors who participate at the visitor survey during the weekend will also stand a chance to win 10 Spritzer Hot and Warm Mini Dispensers and other mystery gifts.
More than RM10,000 worth of prizes are up for grabs in the lucky draw for homebuyers during the four-day event.
The fair, from today to Sunday is open daily from 10am to 10pm. Admission is free.
IJM Land and Ekovest Bhd are the premium partners for StarProperty.my Fair 2016.
For more information, visit fair.starproperty.my or Facebook page (StarProperty.my) or call 03-7967 1388 (ext: 1103).
StarProperty.my also offers support to those with serious concerns on mortgage and financing problems. Email support@propwall.my for inquiries on mortgage application.
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