SHAH ALAM (Aug 1): The Selangor Government received 189,892 applications for the Rumah Selangorku programme in the past five years, but sadly only a fraction of the applicants ended up owning the homes offered.

Housing and Urban Living Committee chairman Haniza Talha noted that from that number, only 24,243 received offer letters.

“Those who were successful were relatively low in number because of stringent financial conditions adopted by the banks.

“We have found that some people were eligible for the Rumah Selangorku houses but due to stringent bank requirements, their loan applications were not approved,” she told reporters after launching the Rumah Selangorku Exhibition Booth at the Selangor State Assembly Hall lobby, here yesterday.

She added that her committee was looking into alternative measures including negotiating with various banks that could offer home financing without imposing stringent requirements.

Haniza noted that her committee would also hold talks with the Housing and Local Government Ministry (KPKT) to jointly implement a State-level “Rent To Own” programme, which is seen as the best platform for the people of Selangor to own a house.

“It will help reduce the buyer’s burden where they don’t have to pay deposits and just pay rent to be  eligible eventually to buy the house,” she said.

Earlier, Housing and Local Government Minister Zuraida Kamarudin said they were in the final stages of preparation of introducing the new ‘Rent To Own’ residential financing scheme to be launched in September.

The scheme for Malaysians, especially those earning below RM3,000 to own the home, will be implemented on the basis where the buyers do not have to pay deposit, and only pay rent until they meet financial requirements for them to be eligible to buy the property.

News Source: EdgeProperty Malaysia, 1 August 2019