Govt to review income limit eligibility for My First Home Scheme

KUALA LUMPUR: The government will review the household income limit eligibility for the My First Home Scheme, Deputy Finance Minister Datuk Donald Lim Siang Chai said.

He said the review is in line with the announcement by the Prime Minister Datuk Seri Najib Razak in the 2012 Budget, which raised the loan limit under the scheme to RM400,000 from RM220,000.

"The eligibility limit is now RM3,500 (and) we are looking at around RM6,000 to RM7,000," he told reporters after launching the Kurnia One Touch mobile application here on Wednesday, Oct 19.

He said discussions on the matter is still ongoing and the ministry is waiting for feedback from banks regarding the proposal.

"We have ask bankers to give us the figures that they are comfortable with if one needs to borrow more money (under the new scheme)," he added. — Bernama

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