The increase in BLR will make investors think twice about buying new properties as it will be translated into a higher investment cost.
An informal poll with property professionals, potential house buyers and a lender on the various issues in the property market today, including the BLR increase and lending based on gross/net selling prices and the effects on mortgage payments.
AND so the much-anticipated increase in the overnight policy rate (OPR) of 0.25% came. And with this increase, so will the base lending rate (BLR) on which mortgage rates are based, moving from the previous 6.6% to 6.85%. But this week’s increase in the BLR is not the only issue affecting the current property market.
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