Bank Muamalat offers home financing to 1st time homebuyers

The scheme enables those without monthly income statement to own their first home

by NURUL SUHAIDI / pic TMR FILE

BANK Muamalat Malaysia Bhd is offering financing up to RM400,000 to help self-employed and non-fixed income workers to own their first homes.

The scheme, SMART Mortgage SJKP and guaranteed by Syarikat Jaminan Kredit Perumahan Bhd (SJKP), enable those without monthly income statement to own their first home.

Targeted to brand new homeowners, the scheme comes with no-entry-cost, with 100% margin financing, moving costs and related expenses covered by the bank.

Bank Muamalat president and CEO Khairul Kamarudin said the increase in cost of living and higher market price, extra costs, fees and deposits to own a house is causing potential house buyers to postpone plans of owning a house.

“However, with the SMART Mortgage SJKP scheme, potential house buyers can proceed with their plans to own their first homes,” he said.

The total funding available under the scheme for qualified individuals includes related costs such Mortgage Reducing Term Takaful, Long Term House Owner Takaful, legal and valuation fees.

The bank’s partnership with SJKP, which started in October 2019, proved this scheme to be effective in assisting homebuyers to purchase their first dream home.

It is said that the programme is also part of the bank’s mission to assist the affordable market segment to own a house.

For more information on financing by Bank Muamalat, please visit www.muamalat.com.my or https://map.muamalat.com.my/ or contact the bank’s customer service centre at 03 2600 5500 or visit the nearest Bank Muamalat’s branches.