GOOD news awaits low-cost house owners, who are unable to obtain bank loans,
as the Selangor Government is implementing the rent-and-buy housing scheme later
this month.
The scheme is being introduced with the aim to ease the burden of those who
are unable to obtain housing loans for various reasons including old age.
State Housing, Building Management and Urban Living committee chairman
Iskandar Samad said the news was expected to bring cheer to thousands of
residents in Selangor.
In the past, he said, many low-cost housebuyers were unable to own houses
after their loan applications were rejected by banks.
The scheme which will be launched by Mentri Besar Azmin Ali on Nov 29, would
be implemented through the Perumahan Dan Hartanah Selangor Sdn Bhd, said
Iskandar.
He said the company would play a role to purchase the homes from the
developers before renting them out to eligible buyers.
‘‘The buyers will be given an option to purchase the homes after renting them
for two years with part of their rental used to reduce the cost of the homes,’’
he said
Iskandar said the sale of the houses would be done through the banks.
However, he said, the tenants of the homes would be given the option to
continue to stay on rental basis until they were able to obtain loans.
“They also have the option to own the homes once they have paid the cost of
the homes through the rental they have paid,’’ he said, adding that the state
had allocated RM10mil for the scheme.
Iskandar said the scheme Dana Sel was being implemented as part of the
General Election 2013 manifesto of Pakatan Rakyat.
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