Skim Rumah Pertamaku will be abolished on April 1
MOHAMAD AMREEL IMAN ABD MALEK
SHAH ALAM -Skim Rumah Pertamaku (SRP) introduced in 2011, will be abolished on April 1.
The scheme's management corporation Cagamas Bhd, advised individuals interested in applying for the loan or financing to submit their application before March 31.
"Please visit any participating bank branch or contact us at 03-2262 1800 for more information," it said through a brief notice on the corporation's website on Wednesday.
Cagamas also advised visitors that over 90,000 applicants had been successful in obtaining funding through this scheme, with more than 90 percent being B40 and youth aged 25 to 40 years.
The SRP was introduced to help households with a gross monthly income below RM10,000 own their first home.
By having this option, buyers can obtain up to 110 per cent financing from participating banks without having to pay an advance.
Financing or loans obtained for the purchase of the first house will be guaranteed up to 20 percent by Cagamas.
With the abolition of SRP, buyers now need to provide a deposit of 10 percent of the price of the property they want to buy.
