S'gor has most number of 'My First House' scheme buyers

KUALA LUMPUR (Mar 21): Selangor registered the highest number of applicants for the "My First House" scheme, involving funding of RM14.4 million, up to Jan 31 this year, Prime Minister Datuk Seri Najib Razak said on Wednesday.

Najib, who is also the finance minister, said the state had 96 applicants. This was followed by Kuala Lumpur (57 applicants for RM8.5 million), Johor (32 for RM4.8 million), Penang (21 for RM2.9 million), Perak (20 for RM2.8 million).

Melaka (17 for RM2.4 million), Sabah (13 for RM1.9 million), Kedah (eight for RM1.1 million), Negeri Sembilan (seven for RM916,500), Pahang (six for RM966,900), Terengganu (two for RM265,000) and Sarawak (one for RM192,000).

"No applications were received up to Jan 31 in Perlis, Kelantan and the federal territories of Labuan and Putrajaya," he said in a written reply to Lim Lip Eng (DAP-Segambut) in the Dewan Rakyat.

Lim had wanted to know the number of house buyers under the scheme since its launch in March last year.

The total number of applicants was 1,623, and they had sought funding amounting to RM238.9 million.

Najib said Chinese comprised the biggest number of borrowers at 152 (or 55%), followed by Malays (93, or 33%) and Indians (29, or 10%).

He also said that 65 applications for funding were received from Public Bank Bhd, 62 from Alliance Bank Bhd, 36 from Malayan Banking Bhd and 35 from Alliance Islamic Bank.

"Most of the guarantee recipients are in the 24 to 29 age group, totalling 187," he added.

The scheme aims to allow young working adults obtain 100% financing from banking institutions to purchase their first home valued at a maximum of RM220,000 (for single applicants) or a maximum of RM400,000 (for joint husband-and-wife applicants with a household income of less than RM6,000 per month). — Bernama