Kuala lumpur: The Public Sector Housing Financing Board (LPPSA) has clarified that the process of discharging a charge or transferring ownership rights after a housing loan has been fully settled is a long-standing practice and not a new policy, as some parties have perceived.

According to BERNAMA News Agency, LPPSA issued a statement addressing the confusion stemming from recent announcements on the matter, aiming to correct any misconceptions surrounding the procedure. The organization emphasized that the procedure after the completion of financing has always included the discharge of a charge or transfer of ownership rights, with the responsibility falling on the borrower.

LPPSA advised borrowers to complete the process promptly to avoid future complications, particularly concerning inheritance, estate administration, and property transfers. To facilitate this, LPPSA encourages borrowers to appoint a lawyer to manage necessary procedures and documentation, ensuring all requirements are met efficiently.

However, LPPSA stressed that the suggestion to engage legal services is solely to protect borrowers' interests and ensure the smooth completion of the discharge process, not to create new obligations or impose additional costs. Borrowers have the option to handle the process themselves, provided they comply with all procedures and requirements set by the relevant authorities.

The board observed that some borrowers have not completed the discharge of charge process despite settling their financing, which could lead to legal and administrative complications. LPPSA remains committed to offering transparent and efficient services, while also raising awareness about the importance of completing the discharge process post-financing settlement.

For further assistance, borrowers can reach out through LPPSA's official enquiry and complaint portal (eTicket), live chat service, e-counter, LiA Chatbot on its official website, or contact the LPPSA Call Centre at 03-8880 1600.