AKPK lauds fund for affordable homes

KUALA LUMPUR: A budget of RM1 billion under the Bank Negara Malaysia (BNM) Fund for Affordable Homes was announced in the National Budget 2019 to help lower income group finance their first homes.

AKPK is the appointed agency of BNM to provide an easy and convenient online financial education module for those applying for financing under the fund.

“We welcome this encouraging move by the government and Bank Negara Malaysia”, said Azaddin Ngah Tasir, chief executive officer of Credit Counselling and Debt Management Agency (AKPK). “Increasing financial literacy especially on buying a house would help borrowers to choose the house and the financing that match their financial situation.”

“Buying a house is a big commitment. Learning about how much you can afford to borrow and the costs of homeownership before the purchase, goes a long way in protecting your property. We believe, this would facilitate repayment process and promote peace of mind among homeowners in the country.”

The Rumahku portal assists potential borrowers to understand and manage their finances effectively by undergoing a quick and easy self-assessment on the financial commitments related to purchasing a home prior to them making the purchase decision and obtaining financing.

The special home financing scheme under the BNM Fund for Affordable Homes as well as measures to facilitate home ownership will take effect from January 2, 2019.