In a bid to facilitate homeownership, especially for first-time buyers, Bank Negara Malaysia (BNM) and the government had introduced various schemes and programmes aimed at helping eligible borrowers acquire a home since 2010, said Deputy Finance Minister Datuk Lee Chee Leong.
“Among them are step-up financing schemes PR1MA, MyHome, Rumawip, Selangorku Homes, 1Malaysia Civil Servant Housing (PPA1M) and 1Malaysia People’s Friendly Homes and reducing the cost of buying houses through the MyDeposit Scheme by providing 100 percent stamp duty exemption on the instrument of transfer letter and housing loan for purchase of houses worth RM300,000 and below,” he said.
In fact, banking institutions had approved RM57 billion worth of home loans to 142,558 first-time homebuyers between January and September this year.
His statement was made in reply to Senator Datuk Yong Wui Ching’s query on bank loan approval statistics for first time home acquisitions from 2012 made by BNM to help applicants secure home financing.
Lee noted that the central bank’s the Housing Watch website at http://www.housingwatch.my offers the latest information on Malaysia’s real estate such as housing loan statistics, advisory services for housing loans as well as government aid schemes for first-time homebuyers and youths.
Image sourced from The Malaysian Reserve.
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