Cagamas’ mortgage scheme gaining traction

“The applicants have to undergo eligibility screening and financial advice by the Employees’ Provident Fund and credit counselling and debt management agency to ensure they have a good understanding of SSB,” Cagamas CEO Datuk Chung Chee Leong told StarBiz.

PETALING JAYA: Cagamas Bhd’s reverse mortgage loan scheme called Skim Saraan Bercagar (SSB) has attracted interest and is within the mortgage corporations expectations since applications opened on Jan 17, 2022, in the Klang Valley.

Despite its launch in January this year, the reverse mortgage loan for retired homeowners only saw its first applicant in March 2022.