Maybank's Farid says loan rejection rate for affordable housing only 20%

New brand: A sample of affordable homes as part of the Rumah Selangorku programme. S P Setia plans to launch such houses in Setia Alam in Shah Alam which will be priced at RM170,000 a unit with a built-up area of about 800sq ft, and RM200,000 for units with a built-up area of about 900 sq ft.

For loans where principal amount borrowed was less than RM500,000, he said, the rejection rate was 19%.

Loans between RM500,000 and RM1mil saw a 20.71% rejection rate, between RM1mil and RM3mil saw 25% loans rejected, and those over RM3mil saw 36% turned down.