Mechanism to help borrowers repay loans

  • Nation
  • Friday, 26 Jul 2019

KUALA LUMPUR: The government will introduce a mechanism for the National Higher Education Fund Corporation (PTPTN) borrowers listed in Central Credit Reference Information System (CCRIS) to be disciplined in their financial payment for housing as well as education loans.

Housing and Local Government Minister Zuraida Kamaruddin said it was still planning for the best way to help the borrowers to own a house, including collaborating with PTPTN and local banks.

She said the initiative would allow young people to own a home and it involved the purchase of all types of houses and not just under the ministry.

“CCRIS is just an information scheme but banks are still free to approve or disapprove the housing loans for them.

“The ministry will work out the mechanism together with PTPTN to assist them to repay both education and housing loans,” she said after launching the “Hi HOME” Property Conference here yesterday.

Also present were Youth and Sports Minister Syed Saddiq Syed Abdul Rahman and founder and chief executive officer of Hartanah­bumi dotCom Sdn Bhd Radzi Tajud­din.

Syed Saddiq said the Youth Housing Policy was expected to be launched in October.

He said the current rent-to-own scheme – to be launched in September – was a good initiative for the young people earning below RM3,000, adding that the house was priced at RM300,000.

“The buyers don’t have to pay the deposit but can rent a unit first and after five years, their financial status will be reviewed to see whether they are eligible to buy the house (or not),” he said.

Aspiring home buyers looking to find suitable properties based on their financial capability can now do so with Hi HOME portal at to identify the eligible maximum amount and the best bank loans as well as location, type and price of the houses. — Bernama

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 18
Cxense type: free
User access status: 3

What do you think of this article?

It is insightful
Not in my interest

Across The Star Online

Life Inspired has a chic new look

2020 is all about change, and Life Inspired did just that with a fresh makeover!

This month, we speak to 3 female icons about empowerment and more - read it for FREE this week.