Helping more B40, M40 families own homes

15/4/2022 2:51:00 AM

Helping more B40, M40 families own homes

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Helping more B40, M40 families own homes

PETALING JAYA: The My First Home scheme (SRP) aims to approve 25,000 applications from low- and middle-income groups this year with an estimated allocation of RM5.9bil, says Finance Minister Tengku Datuk Seri Zafrul Tengku Abdul Aziz.

This comes to a total of RM14.8bil under SRP, whereby 91% of applicants consist of the B40 group and 92% of applicants were aged 35 and below, he added.“Also contributing to the success was the involvement of 26 banks.“I would like to take this opportunity to express my appreciation for their support and cooperation,” Tengku Zafrul said during the launch of i-Biaya at the Sunway Resort here yesterday.

SRP by Cagamas SRP Bhd is one of the three initiatives under i-Biaya, which also consists of the Credit Scheme by Syarikat Jaminan Kredit Perumahan and Rent To Own Scheme for 1Malaysia Housing Programme homes (PR1MA).SRP, launched in 2011, is a government initiative to assist eligible first-time homebuyers in obtaining up to 110% financing from participating banks, enabling them to own a home without making a down payment.

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He said that up to February, nearly 67,000 families had bought their first homes from when SRP was launched in 2011.According to Tengku Zafrul, this worked out to house purchases worth RM14.Telegram channel for the latest updates.Thursday, 14 Apr 2022 1:04 PM MYT PETALING JAYA: Approximately 10,000 B40 students have received laptops under the Pakej PerantiSiswa Keluarga Malaysia scheme, says Datuk Seri Dr Noraini Ahmad ( pic ).

This comes to a total of RM14.8bil under SRP, whereby 91% of applicants consist of the B40 group and 92% of applicants were aged 35 and below, he added. Tengku Zafrul said the government expected SRP to benefit 25,000 B40 and M40 applicants this year with an estimated allocation of RM5. “Also contributing to the success was the involvement of 26 banks. “KPKT implements this initiative anchored on the availability of affordable housing in strategic locations, buyers’ capability whereby the ministry gets advice from various stakeholders including Bank Negara Malaysia (BNM) as well as financing facilities for the B40 and M40 groups,” he said during the i-Biaya launching ceremony here, today. “I would like to take this opportunity to express my appreciation for their support and cooperation,” Tengku Zafrul said during the launch of i-Biaya at the Sunway Resort here yesterday. “Also contributing to this success was the involvement of 26 banks in the SRP scheme. SRP by Cagamas SRP Bhd is one of the three initiatives under i-Biaya, which also consists of the Credit Scheme by Syarikat Jaminan Kredit Perumahan and Rent To Own Scheme for 1Malaysia Housing Programme homes (PR1MA). “This is especially so since Covid-19 hit the country over the last two years,” she said during the PerantiSiswa pre-launch ceremony at Multimedia University in Cyberjaya on Thursday (April 14).

SRP, launched in 2011, is a government initiative to assist eligible first-time homebuyers in obtaining up to 110% financing from participating banks, enabling them to own a home without making a down payment. i-Biaya is a joint initiative by the Finance Ministry and the Housing and Local Government Ministry to facilitate home ownership among low- and middle-income earners. “For SRP, it is expected to benefit 25,000 applicants among B40 and M40, with financing worth RM5. It is open to first-time homebuyers earning RM5,000 and less for single applicants, or RM10,000 and less for joint applicants. They are eligible to purchase a property in either the primary or secondary market with a maximum value of RM500,000. SRP is a government initiative to help eligible first-time housebuyers obtain up to 110% financing from participating banks, enabling them to own a home without making a down payment. On behalf of the government, Tengku Zafrul thanked the five banks – Ambank Islamic Bhd, Ambank (M) Bhd, Bank Islam Malaysia Bhd, CIMB Islamic Bank Bhd, and Maybank Islamic Bhd – for recording the highest number of approved SRP applications.8 billion,” he said. Helping homebuyers: Reezal Merican (second from left) and Tengku Zafrul (third from left) witnessing the exchange of documents between PR1MA and Maybank during the launch of i-Biaya. They are eligible to purchase a property in either the primary or secondary market with a maximum value of RM500,000.

He said the five banks had approved 81% of applications since the launch of SRP up to last December. “I hope this will motivate other financial institutions to work together with us in achieving homeownership targets among the B40 and M40. Tengku Zafrul said the five banks had approved a total of 81% of applications under SRP up to December. Apart from that, the Housing Credit Guarantee Scheme is widened to enable those without salary statements or documents accordingly, especially those involved in gig economy, to apply for housing loans.” Also present at the launch were Housing and Local Government Minister Datuk Seri Reezal Merican Naina Merican and his deputy Datuk Seri Ismail Abd Mutalib, Deputy Finance Minister Yamani Hafez Musa, and several other government officials. Reezal Merican, who spoke earlier, said the Credit Scheme by SJKP has approved more than 12,000 applications with a total allocation of RM1. Also present at the launch was Housing and Local Government Minister Datuk Seri Reezal Merican Naina Merican, his deputy Datuk Seri Ismail Abd Mutalib, and Deputy Finance Minister Yamani Hafez Musa, among other government officials.35bil from 2008 until February this year.

He also said the Rent To Own (RTO) Scheme for PR1MA homes was officially launched yesterday.35bil from 2008 to February this year. “This will also give space to specifically the middle-income group (M40) to own their dream home with a more flexible home ownership scheme,” he added. Under the new RTO scheme for PR1MA homes, current occupants can buy the units they live in after five years, and the monthly rental rates would differ depending on the house prices at up to RM300,000. The credit scheme by SJKP is an initiative for those in the gig economy. i-Biayai is a joint initiative by the Finance Ministry and the Housing and Local Government Ministry to ensure homeownership among low and middle-income earners. Article type: metered . “This will also give space to Keluarga Malaysia, specifically the M40 group, to own their dream home with a more flexible ownership scheme,” he added.