New rent-to-own housing scheme in September - Zuraida

The new rent-to-own housing scheme will be launched this September, said Housing and Local Government minister Zuraida Kamaruddin.

“The buyers don’t have to pay a deposit, but can rent a unit first and after five years, we will review their financial status on whether they are eligible to buy the house. Zuraida said the culture of encouraging young people to own property should start now for the long-term benefits. Zuraida said banks will decide whether PTPTN borrowers were eligible to apply for a mortgage loan because of the list of borrowers in CCRIS was a ‘blanket policy’ that was not reflective of the real situation involved.

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