Budget 2022: Help on the way for those without proof of fixed income to buy homes

PETALING JAYA: RM2bil worth of bank guarantees will be provided beginning next year through the Housing Loan Guarantee Scheme to help people with no fixed income and no proof of income to enable them to own a house.

Finance Minister Tengku Datuk Seri Zafrul Tengku Abdul Aziz said this came after many complaints from gig workers, small business owners and farmers who said it was hard for them to obtain housing loans because of the reasons stated above.

Some of them are capable of servicing the loans but have no proof of income, he said when tabling Budget 2022 in Parliament on Friday (Oct 29)

He added that this scheme will provide financing access for these groups to have a roof over their head.

He said RM1.5bil will be allocated to help the low-income group own a home because "everyone from Keluarga Malaysia has the right to own one".

The allocation, among others, will ensure the continuity of Rumah Mesra Rakyat and other aid schemes for the upkeep of people's housing (affordable housing projects).

He also said the government will no longer impose real property gains tax on Malaysians, permanent residents and companies when they dispose of their properties from the sixth year of ownership and beyond.