Maybank CEO: Stricter rules not causing higher rejection rates

KUALA LUMPUR: Stricter lending rules imposed by banks over the past year for housing loan applications have not resulted in higher rejection rates, according to the country’s biggest financial group.

In fact, banking industry data showed that only 19% of mortage applications for homes costing less than RM500,000 were turned down. Getting financing for higher-priced units, however, is slightly tougher.