[ad_1]
Semenyih: FundMyHome.com will help the government to deliver its million-year-old housing in 10 years, says Tun Dr. Mahathir Mohamad.
Speaking during the launch at the Prime Minister said the scheme, the first of its kind in the world, offered first-time home buyers a chance to pay only RM500,000 while the remaining sum is bound by investors via the peer-to-peer (P2P) financing framework.
"This would enable more people to own a home with minimum payment, which could be achieved through savings, or loans or EPF withdrawal.
"Said Dr. Mahathir of the FundMyHome.com – a digital platform which offers a similar scheme to the Crowdfunding Property solution.
On Friday, during the tabling of Budget 2019, it was announced that the P2P financing framework will be regulated by the Securities Commission (SC) would go live in the first quarter of next year for first-time home buyers.
Dr. Mahathir said the current situation was one of many.
"There are also a lot of Malaysians who could not afford to buy one. This new scheme would open up opportunities for Malaysians to afford a shelter over their heads, "he said.
The Prime Minister, who described the scheme as "fantastic", said it could solve the issue of unsold houses.
The scheme was started by The Media Group's chairman Datuk Tong Kooi Ong before being approved by the government.
But Dr. Mahathir also said that the success of the scheme would depend on its results after being fully implemented.
"I want to see the house. I want to see the owner. If this works, then more people will be able to be built, "he added.
Separately, in response to questions on the subject of the P2P financing scheme, Finance Minister Lim Guan Eng said it was right for the body to be skeptical.
"But we found the idea to be workable. The government will hold dialogues with the SC and will be able to work on the scheme, "said Lim, who also attended the launch.
[ad_2]
Source link
