PETALING JAYA: The My First Home scheme (SRP) goals to approve 25,000 functions from low- and middle-income teams this yr with an estimated allocation of RM5.9bil, says Finance Minister Tengku Datuk Seri Zafrul Tengku Abdul Aziz.
He mentioned that as much as February, practically 67,000 families had purchased their first homes from when SRP was launched in 2011.
This involves a complete of RM14.8bil beneath SRP, whereby 91% of candidates include the B40 group and 92% of candidates have been aged 35 and beneath, 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 mentioned in the course of the launch of i-Biaya on the Sunway Resort right here yesterday.
SRP by Cagamas SRP Bhd is without doubt one of the three initiatives beneath i-Biaya, which additionally 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 authorities initiative to help eligible first-time homebuyers in acquiring as much as 110% financing from taking part banks, enabling them to own a house with out making a down cost.
It is open to first-time homebuyers incomes RM5,000 and fewer for single candidates, or RM10,000 and fewer for joint candidates. They are eligible to buy a property in both the first or secondary market with a most worth of RM500,000.
On behalf of the federal government, Tengku Zafrul thanked the 5 banks – Ambank Islamic Bhd, Ambank (M) Bhd, Bank Islam Malaysia Bhd, CIMB Islamic Bank Bhd, and Maybank Islamic Bhd – for recording the very best variety of accredited SRP functions.
Helping homebuyers: Reezal Merican (second from left) and Tengku Zafrul (third from left) witnessing the trade of paperwork between PR1MA and Maybank in the course of the launch of i-Biaya.
He mentioned the 5 banks had accredited 81% of functions for the reason that launch of SRP as much as final December.
“I hope this will motivate other financial institutions to work together with us in achieving homeownership targets among the B40 and M40.”
Also current on the launch have been 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 different authorities officers.
Reezal Merican, who spoke earlier, mentioned the Credit Scheme by SJKP has accredited more than 12,000 functions with a complete allocation of RM1.35bil from 2008 till February this yr.
He additionally mentioned the Rent To Own (RTO) Scheme for PR1MA homes was formally launched yesterday.
“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 brand new RTO scheme for PR1MA homes, present occupants should buy the models they reside in after 5 years, and the month-to-month rental charges would differ relying on the home costs at as much as RM300,000.
i-Biayai is a joint initiative by the Finance Ministry and the Housing and Local Government Ministry to make sure homeownership amongst low and middle-income earners.
