KUALA LUMPUR, July 20 — The Association of Banks in Malaysia (ABM) has urged first-time house buyers to apply for the government financing scheme under "Skim Rumah Pertamaku” (SRP).

"Eleven commercial banks and 11 Islamic financial institutions in Malaysia are participating in the SRP,” ABM said in a statement today, clarifying reports that the stringent lending policy is affecting first-time house buyers.

Meanwhile, commercial banks that have been offering housing loans to eligible applicants will continue to do so, ABM said.

"To improve chances of securing a housing loan, potential house buyers should have a good credit record on existing credit facilities/liabilities and the ability to prove financial capability to make monthly payments,” it added.

Those with inquiries or complaints related to housing loan matters can contact ABMConnect hotline at 1-300-88-9980 or email to eABMConnect at www.abm.org.my. — Bernama