Thursday 11 August 2016

Options for first time house buyers

In the wake of increasing pressure on banks to relax lending rules, the Association of Banks in Malaysia (ABM) is asking first time home buyers to consider applying for Government schemes such as “Skim Rumah Pertamaku” (SRP) for assistance in their property purchase.

An ABM statement said 11 commercial banks and 11 Islamic financial institutions in Malaysia were participating in the SRP scheme.

According to the website, 100% financing is available for houses capped at RM500,000.

Applicants must have a combined gross income of RM5,000. They must meet other conditions. “Homebuyers are reminded that there are various financing options for them.

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