Banks reject housing loan applications of poor families despite state government’s approval

KUCHING: There are poor families in Sarawak who are “forced” to continue living as squatters because banks would not approve their housing loan applications, even though they have the state government’s backing.

Most recently, one-third of 300 new affordable units at Matang, about 15km from here, were left without buyers, when loan applicants failed to fulfil the banks’ criteria.