KUCHING: People from the low-income group now have greater chances of fulfilling their dreams to buy houses and live in decent homes with the official launch of Mutiara Housing Loan Scheme yesterday.
The scheme, which was launched by Housing Minister Datuk Amar Abang Johari Tun Openg, is specifically established to cater for the financial need of this particular segment of people to purchase their own houses.
Abang Johari said the scheme, funded by both the state and federal governments with the support from the Finance Ministry and Bank Negara Malaysia, would target those applicants with gross household income of RM5,000 per month who normally could not obtain housing loans from any financial institutions in the past.
He, however said, Mutiara Housing Loan Scheme was offering an alternative and not a substitute to the existing loan schemes in the market and as such banking and financial institutions would certainly still need to continue playing their role in providing end-financing to eligible house buyers under their respective schemes.
Abang Johari said the state government, through his ministry had initiated the housing loan scheme because so many potential buyers were unable to secure loans from local banks in the past due to the rigid and strict conditions.