The documentation fee for housing loan borrowings has been abolished by local banks following a “notice of cessation to all banks” from Bank Negara Malaysia, according to a report by The Star. The daily reported that notices posted by a number of banks mentioned the directive from Bank Negara, detailing that they must from today “cease charging a fee relating to the provision of housing loan...
The National House Buyers Association (HBA) applauds the recent directive from Bank Negara Malaysia (BNM) that banks must immediately cease charging “loan documentation fees” on housing loans (for conventional loans) and housing financing (for Islamic financing). The move by BNM for Banks to cease charging these “loan documentation fees” shows that the new unity government under our current...