KUCHING: First-time housebuyers need not fret, as the state has an alternative scheme in place to support them despite the abolition of Skim Rumah Pertamaku (SRP) on April 1.
According to the Sarawak Housing and Real Estate Developers’ Association (Sheda) Kuching chairman Datuk Sim Kiang Chiok, it is worth noting that the Housing Deposit Assistance Scheme (HDAS) launched in 2022 is readily accessible.
“Through the state government and Mutiara Mortgage, first-time housebuyers in Sarawak can receive up to RM10,000 in assistance,” he said.
Sim compared this initiative with the soon-to-be-discontinued SRP, which offers up to 110 per cent financing for house purchases and a 20 per cent bank loan guarantee in case of default.
Regarding the future of housing assistance, Sim added: “We hope the federal government will establish a similar scheme, especially for the B40 and M40 income groups, to aid them in securing their own homes, a fundamental necessity for everyone, next month.”
Cagamas Berhad, the management corporation of Skim Rumah Pertamaku (SRP), has announced the scheme’s abolition on April 1 this year.
With a brief notice issued on its website recently, the corporation advised interested individuals to submit their loan or financing applications before March 31.
Notably, the scheme has successfully assisted over 90,000 applicants, with more than 90 per cent being B40 and youth aged 25 to 40 years.
Introduced in 2011, it aimed to help households with a gross monthly income below RM10,000 to own their first home.
By offering up to 110 per cent financing from participating banks, buyers were able to purchase their dream home without any down payment. Additionally, Cagamas guaranteed up to 20 per cent of the financing or loans obtained for the first house purchase.
With the scheme’s abolition, buyers will now need to provide a deposit of 10 per cent of the property’s purchase price.
