KUALA LUMPUR, July 19 (Bernama) – The Malaysian Housing Financing Initiative (i-Biaya) under the Home Ownership Programme (HOPE) provides opportunities for youths, especially gig economy workers to own a home.
Deputy Secretary-General (Housing and Community Welfare) of the Ministry of Housing and Local Government Datuk Azhar Ahmad said the initiative offered access to financing through Cagamas Berhad, Syarikat Jaminan Kredit Perumahan (SJKP) and the PR1MA Rent-to-Own (RTO) Scheme.
He said financing through Cagamas Berhad and SJKP is flexible without having to submit a salary statement which is usually the main condition in the home ownership process.
“Currently, many youths are involved in the gig economy or self-employment where there is no fixed income, no salary statement unlike those who work in the public sector…they cannot provide monthly salary statements, so to address the issue the government launched this i-Biaya scheme.
“This scheme is flexible, if there is no salary statement, we will look at the monthly commitments such as electricity and telephone bills or online purchases where their payment track record is good, which means that they can afford to pay (for the house),” he said on the 'Ruang Bicara' talk show on Bernama TV tonight.
--BERNAMA
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