Easing burden for property
08/09/2007 The Star
M. RAGENI has one “headache” less now. She will be able to use part of her
monthly salary for other expenses with the announcement that EPF
contributors will be allowed to make monthly withdrawals from their Account
Two for housing loan repayment.
The 30-year-old business development manager said the announcement made in
the Budget 2008, was good because apart from paying for a housing loan, she
had to pay for her car loan and credit card.
“I can use this scheme next year for a property that I just bought.”
As for the 50% stamp duty exemption on documents of transfer for the
purchase of one house of not more than RM250,000, Rageni from Rawang said
this had little impact.
“Sometimes there is already a developer’s discount, and depending on the
value of the property, the paperwork can come up to about RM4,000,” she
Almost there: Alita Aris (right) checking out a property booth at One Utama
Shopping Centre on Friday.
With the announcement that
monthly withdrawals for housing loan repayment could be made from the EPF's
Account Two, Alita is excited about buying a house.
Holly Chai, 40, on the other hand, said it would be good if those owning two
houses could make withdrawals using the scheme, instead of limiting it to
only one house.
This was because, she said, many people these days had two houses.
Employees Provident Fund chief executive officer Datuk Azlan Zainol said EPF
would support its members, in particular the lower income earners, to pay
their monthly housing loans through the new housing withdrawal.
Azlan added, in a press statement yesterday, that the EPF now allowed
members to withdraw their savings from Account Two to buy or build a house
and to reduce the mortgage.