by BERNAMA / pic by TMR GRAPHIC

CAGAMAS SRP Bhd is expecting a more than 50 per cent increase in approved loans by 2021 with the soon-to-be-launched Digital Skim Rumah Pertamaku (Digital SRP).

According to a media invite, the Digital SRP will enable eligible Malaysians to purchase and apply for financing online for their first home.

The initiative is a collaboration with Didian, a property marketplace for agencies, and MHub, an end-to-end property marketplace platform.

“Customers can select from more than 130,000 properties listed online. They can also opt to enjoy assistance from close to 2,000 real estate agents across 300 agencies nationwide,” said the invite.

Launched in 2011, SRP is a government initiative to assist eligible first-time house buyers to obtain up to 110 per cent financing from participating banks, enabling them to own a home without having to make a downpayment.

SRP is open to first-time house buyers earning RM5,000 and below for single applicants, or RM10,000 and below for joint applicants.

They are eligible to purchase a property in either the primary or secondary markets with a maximum value of RM500,000.