Bank Muamalat Offers Home Financing Up To RM400k Under Smart Mortgage Scheme

The scheme is guaranteed by Syarikat Jaminan Kredit Perumahan to help those without monthly income statement to own a house and is for first time home buyers

Bank Muamalat Offers Home Financing Up To RM400k Under Smart Mortgage Scheme

KUALA LUMPUR, Aug 8 -- Bank Muamalat Malaysia is offering financing up to RM400,000 through its SMART Mortgage SJKP scheme to help self-employed and non-fixed income earners, including gig economy workers, business owners and small traders or entrepreneurs to own their first homes.

The scheme is guaranteed by Syarikat Jaminan Kredit Perumahan to help those without monthly income statement to own a house.

For those who are eligible, the amount of financing provided through this scheme includes related expenses such as Mortgage Reducing Term Takaful (MRTT), Long Term House Owner Takaful (LTHT), legal and valuation fees.

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This is a zero-entry cost package for new home owners with 100 percent margin of financing with all moving costs and related expenses to be financed by the Bank.

This scheme has been proven successful in assisting home buyers to own their first dream house under the Bank’s collaboration with SJKP, which has commenced since October 2019. The Bank has always placed an emphasis on efforts to assist the affordable market segment to own a house.

Bank Muamalat Malaysia Berhad President and Chief Executive Officer, Khairul Kamarudin said, “Following the increase in cost of living and higher market price, costs and fees to own a house and further with an extra allocation for deposit to own a house, potential house buyers have put their plans on hold. However with the SMART Mortgage SJKP scheme, potential house buyers can proceed with their plans to own their first homes.”