PETALING JAYA: Former premier Datuk Seri Najib Tun Razak questions if anyone is able to pay the deposit of 20% through the FundMyHome scheme.
In a Facebook posting, he said that the scheme's website noted that the deposit is in the range of RM65,000 and above.
"Anyone interested needs to pay a 'deposit' of at least RM100,000, and the unit will be completed in 2020," he claims, adding that Finance Minister Lim Guan Eng does not know the need and capabilities of the people.
He also sarcastically asked if the deposit was based on a month pay of ministers today.
The former Finance Minister noted that many first time home buyers are youngsters who have difficulties in getting deposits.
"I am concerned if some would use shortcuts and be in debts to come up with the deposit, and further burden their finances without any assurance that after five years, they would even own the house," he said.
Najib noted that the previous administration had carried out several initiatives to help first time buyers, including the Youth Housing Scheme which offers 100% financing for first time buyers; the MyDeposit scheme, and the Youth Transit Homes to allow youths to rent for five years at 30% lower than the market rates.
He added that the Barisan Nasional government had taken the pro-rakyat stance in helping them find a home.
"The Pakatan Harapan government should have thought in detail any initiatives they have announced, and the long term effects it has on the rakyat. Do not do things halfway through," he added.