Perkasa Suggests Loan Scheme For Bumiputeras To Buy Shophouses

KUALA LUMPUR, March 10 (Bernama) -- The Malay right wing group Perkasa today suggested that a scheme be established similar to the My First Home Scheme to help bumiputeras buy shophouses in urban areas.
Perkasa President Datuk Ibrahim Ali said the bumiputeras should be given 100 per cent loans as they would be unable to even come up with the 20 per cent advance payment on the shophouses which could cost up to RM1 million per unit.
Speaking to reporters at the Parliament lobby, he said the government should also consider raising the ceiling of loans for houses in the Klang Valley under the My First Home Scheme.
He said he agreed with the Real Estate and Housing Developers Association (REDHA) that the ceiling should be raised from RM220,000 to RM350,000.
The My First Home Scheme is a government initiative with the collaboration of Cagamas Bhd and financial institutions to enable young people who have just got employed and earning less than RM3,000 a month to own a house.
Under the scheme, these individuals can obtain a 100 per cent loan from selected financial institutions to buy a house which costs between RM100,000 and RM220,000, with the repayment period extending up to 30 years.

tunku : this is a very good suggestion.i hope the government will look into it.please consider this suggestion.as for the "my first home scheme", i think the ceiling price of rm220000 is reasonable when you compare with the salary of rm3000. normally your monthly installment should not be more than 1/3 of your salary.if it is exceeding it than your loan will not be approved.for a person to buy a house at rm220000, he needs to pay a monthly installment of rm1200.