Banks aware of ‘discounts’ given by developers

Banks aware of discounts

PETALING JAYA: Two commercial banks said they are aware of the “discounting practices” by developers and have taken the necessary mitigating measures to ensure that the end financing provided is reflective of the true value of the property purchased.

A Maybank spokesperson said: “The margin of financing will be based on the net selling price, after deducting any rebates/discounts offered by developers.”