PM: Malaysians No Longer Need A Payslip In Order To Apply For PR1MA Housing Loan

Prime Minister Datuk Seri Ismail Sabri Yaakob has announced that the Perbadanan Pr1ma Malaysia Berhad (PR1MA) housing scheme now no longer requires for housing loan applicants to have a payslip so as to made the process easier for those that are self-employed. As reported by Malay Mail, this is made possible through the Housing Credit Guarantee Scheme (SJKP) which is fully owned by the Ministry of Finance.

Ismail said that SJKP allows for greater flexibility for young people that are interested in buying their first home due to it not having stringent requirements that conventional home financing require. Hence, this move would benefit entrepreneurs and gig economy workers who doesn’t have a payslip.

For illustration purposes.

The Prime Minister made the announcement during a visit to Residensi Larkin Indah in Johor Bahru on Friday (4 March 2022) and further clarified that the initiative is in line with the announcement made during Budget 2022 last year. In Budget 2022, RM2 billion was allocated to SJKP to implement this mandate.

Ismail further stressed,

“This proves the government’s commitment to seeing Malaysian families gain access to housing financing such as PR1MA more easily and widely.”

Prime minister, datuk seri ismail sabri yaakob.

In case you didn’t know, PR1MA is a government-owned corporation that aims to plan, develop, construct and maintain high-quality housing for middle-income households in key urban areas and make it available for first-time Malaysian buyers.

What do you guys think of this announcement by the Prime Minister? Share your thoughts with us in the comments.

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