THE cut in Bank Negaras intervention rate by 0.5%, which results in a lower base lending rate, as set out in the recent economic package is expected to spur the demand for properties and further intensify competition among banks to offer attractive housing loan packages.
Standard Chartered Bank Malaysia Bhd country head of consumer banking Bridget Lai said the housing loan industry had always been very competitive but with the goodies handed out, house buyers would now be more attracted to properties.