Housing Deposit Assistance Program now available to S’wak first-time home buyers with bank loans

Abang Johari (front, third from right) flanked by Dr. Sim (right) with others at the Sheda Property Expo groundbreaking ceremony at BCCK in Kuching on September 30, 2022. – Photo by Chimon Upon

KUCHING (September 30): First-time home buyers who have applied for loans from commercial banks or private financial institutions are now eligible to apply for the Housing Deposit Assistance Scheme (HDAS), the Premier announced Minister Datuk Patinggi Tan Sri Abang Johari Tun Openg.

He said the scheme is offered to B40 and M40 groups in the state, where the government supports a maximum deposit of up to RM10,000, which is managed by Mutiara Mortgage and Credit Sdn Bhd (Mutiara Mortgage).

“Now there’s a demand (from home buyers), they’re asking, ‘What about those who already have a loan from a commercial bank, are they eligible for this program?’

“After talking with Deputy Prime Minister Dato Sri Dr Sim Kui Hian, he told me to consider this matter.

“As such, if the buyer already has a loan from a commercial bank, they are also eligible to apply for HDAS,” he said at the launch of the Sarawak Housing and Real Estate Developers Association (Sheda) in Borneo. Convention Center Kuching (BCCK) here today.

He also said he agreed with Sheda’s request to provide RM10,000 free as housing security to first-time home buyers who applied for a loan from private financial institutions.

On another topic, Abang Johari announced that a Condominium Court will be set up to further strengthen the management of condominium titles among home buyers in Sarawak.

He said the court will ensure that the housing industry in the state, particularly condominium ownership, is headed in a better direction.

“We already have our Sarawak Homebuyers Claims Tribunal, and now the state government has taken the decision to establish the Condominiums Tribunal.

“This is done so that we can properly manage condominium titles for homebuyers in the event of a dispute between buyer and developer,” he added.

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