Goverment to introduce mechanism for CCRIS-listed PTPTN borrowers to buy first house



25 July, KUALA LUMPUR – The government will introduce a mechanism for the National Higher Education Fund Corporation (PTPTN) borrowers listed in Central Credit Reference Information System (CCRIS) to be disciplined in their financial payment for housing as well as education loans.

Housing and Local Government Minister Zuraida Kamaruddin said the ministry was still planning for the best way to assist the borrowers to own a house, including collaborating with PTPTN and local banks.

She said the initiative would allow young people to own a home and it involved the purchase of all types of houses and not just under the ministry.

“CCRIS is just an information scheme but banks are still free to approve or disapprove the housing loan for them.

“In a way, the ministry will work out the mechanism together with PTPTN in order to assist them to repay both education and housing loans,” she told reporters today.

Also present were Youth and Sports Minister, Syed Saddiq Syed Abdul Rahman and founder and chief executive officer of Hartanahbumi dotCom Sdn Bhd, Radzi Tajuddin.

Meanwhile, Syed Saddiq said the Youth Housing Policy was expected to be launched in October.

He said the current rent-to-own scheme which would be launched this September was a good initiative for the young people who earned below RM3,000 and the house was priced at RM300,000.

“The buyers don’t have to pay a deposit but can rent a unit first and after five years, their financial status will be reviewed, whether they are eligible to buy the house (or not),” he said.