'My First Home Scheme' launched
The programme is an initiative launched by the government with the collaboration of national mortgage company, Cagamas Bhd, and financial institutions to reduce the burden of the younger generation who are faced with a high cost of living and exorbitant real estate prices. KUALA LUMPUR: Twenty commercial banks, including Islamic financial institutions, are participating in the "My First Home Scheme" programme launched by Prime Minister Datuk Seri Najib Tun Razak here today. The programme is an initiative launched by the government with the collaboration of national mortgage company, Cagamas Bhd, and financial institutions to reduce the burden of the younger generation who are faced with a high cost of living and exorbitant real estate prices. "This will help the younger generation in Malaysia own their first house as soon as possible," Najib added. Via the scheme, the younger generation earning less than RM3,000 per month, can obtain 100 per cent financing fro...