By Farah Wahida:
The government should reduce the mortgage rates for civil servants from four percent to just one percent, urged the Congress of Unions of Employees in the Public and Civil Services (Cuepacs).
“The four percent interest rate is too high for civil servants as the cost of living is getting higher,” said Cuepacs President Datuk Omar Osman.
He pointed out that the four percent interest rate pegged at Budget 2013 is too high even for units offered under the1Malaysia People’s Housing (PRIMA) scheme, which are priced between RM150,000 and RM400,000.
“It would not be a problem for civil servants if the house prices are going down, but it proves otherwise,” noted Omar.
Moreover, he hopes that the federal government will consider Cuepacs’ suggestion in view of rising home prices in Malaysia.
Farah Wahida, Editor of PropertyGuru, wrote this story. To contact her about this or other stories email farahwahida@propertyguru.com.my
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