Able to afford a home at last – thanks to loan scheme

PETALING JAYA: For years, Mohd Ryzal Azwir was unable to secure a conventional loan to own a roof over his head.

After the introduction of a special end-financing scheme under PR1MA, Ryzal, an executive at a government agency, said he could for the first time afford to buy a house in Rantau, Negri Sembilan.

“I tried several times to apply for conventional loans but always got rejected.

“I just received the good news late last month that I will be able to own my dream house,” he said when contacted yesterday.

Ryzal, 31, said the RM225,000 two-storey house was expected to be completed next year.

“I am glad that the application process went smoothly.

“I was informed that I would be paying about RM1,100 per month,” he said.

Another first-time house buyer, Hadi Fazli Rusli, 30, who works with a federal ministry, said he managed to buy a condominium in Cyberjaya worth RM260,500 under the scheme.

“It takes about a month to settle the process. I am eligible for a 90% loan,” he said.

“I am grateful as house prices in the area have reached about RM500,000,” he said.

He said he opted to withdraw some of his money from the Employees Provident Fund (EPF) Account Two to pay the deposit.

“I will receive my keys by the end of this year. My family will be moving there,” he said.

Prime Minister Datuk Seri Najib Tun Razak announced the special end-financing scheme for PR1MA applicants during Budget 2017.

“Through this special scheme, financing will be easier and more accessible to the buyers with total loan up to 90% to 100%,” Najib said then.