Najib ill-advised on ‘ridiculous’ first home scheme, says house buyers’ group

File picture of new homes. A person earning RM3,000 a month can’t afford a RM400,000 house.

KUALA LUMPUR, March 9 — A house buyers’ group has labelled the My First Home scheme an “ill-advised” policy after it was reported this week that not a single loan application has been approved under Putrajaya’s home ownership scheme for low-income earners

The scheme, launched by Datuk Seri Najib Razak a year ago, has come to a grinding halt as banks are unwilling to hand out 100 per cent financing for property worth up to RM400,000 to applicants earning less than RM3,000 a month.

National Homebuyers Association (HBA) honorary secretary-general Chang Kim Loong toldThe Malaysian Insider that setting a ceiling of RM400,000 under a scheme for “affordable housing” was “ridiculous and somebody must have told the prime minister the wrong facts.”

Full article : Najib ill-advised on 'ridiculous' first home scheme, says house buyer' group

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