Making it easier to own your first home

JOHOR BARU: An improvement in the loan scheme under Syarikat Jaminan Kredit Perumahan (SJKP), which guarantees financing of up to 120% for houses worth up to RM300,000, can help people own their first home, says the Local Government Development Ministry.

Its Deputy Minister Akmal Nasrullah Mohd Nasir said the improved loan scheme by SJKP will be especially beneficial to those yearning to own a house but have put their plans on hold due to difficulties in getting a loan from financial institutions.

“When the guarantee is increased to 120%, it will help them in getting their loans approved,” he added.

Akmal Nasrullah, who is also the Johor Baru MP, said this when met during the Johor property expo 2023 at Angsana Johor Baru Mall here yesterday.

Johor Mentri Besar Datuk Onn Hafiz Ghazi, who launched the event, expressed his gratitude to Prime Minister Datuk Seri Anwar Ibrahim for announcing the improvement, which sees an allocation of RM5bil to help people own a home.

Earlier, Anwar announced that the SJKP improved loan scheme will enable all home ownership costs to be covered through the loan, including principal financing, legal fees, appraisal and insurance fees as well as the purchase of furniture and renovation costs.