SHAH ALAM, 25 Feb 2018:
The Selangor State Development Corporation (PKNS) yesterday launched the ‘Smart Selangor First Home Buyers’ financing scheme to help provide for the 10% housing deposit required to own a ‘Rumah Selangorku’ residence.
A total of RM15 million has been allocated by the Selangor government for the financing scheme. The loans will be disbursed according to the price of the house chosen.
PKNS chief executive officer Datin Paduka Dr Noraida Mohd Yusof said the scheme – which focused on buyers from the low and medium income groups – was set up this year following financial constraints faced by applicants in preparing housing deposits.
“As such, PKNS and its subsidiary will offer the scheme to the first 1,000 buyers who qualify for their application to Selangor Housing and Property Board and PKNS starting from today.
“Buyers need to take loans from the financial institution of their choice for the remaining 90% of the housing loan.
“However, PKNS will also assist if future buyers still fail to secure sufficient financing,” she said after the launching ceremony of the scheme here by Selangor Housing, Building Management and Urban Development Committee chairman Datuk Iskandar Abdul Samad.
Noraida said the scheme is unique as following the approval of the loan, buyers did not have to pay for any service charge or interest, but were only required to pay for the deposit amount loaned.
Meanwhile, PKNS said in a statement the requirements of the scheme were applicants must be aged 18 and above; did not possess any residence in the state and the transfer of ownership to a third party was only allowed after five years from the time the sales and purchase agreement (S&P) was signed with PKNS.
The qualifying total of income for Rumah Selangorku types of houses is also subject to current residence requirements and buyers are not permitted to rent out the houses during the five-year period.
The statement added that the repayment of the loans could be done on a monthly basis to Hijrah Selangor, the agency appointed for debt collection – as stipulated in the S&P – or by early settlement before the period of 15 years or 180 months ended.
– Bernama