KUALA LUMPUR: The Malaysian Indian Congress has urged the Indian community to fully utilise the Housing Credit Guarantee Scheme introduced by the government.
MIC president Tan Sri S A Vigneswaran stated this initiative holds particular significance for Indian families who frequently encounter financing challenges due to irregular income patterns.
He confirmed the scheme provides financing up to RM500,000 covering purchase expenses including legal fees, valuation costs and mortgage insurance.
Vigneswaran emphasised the programme offers flexible eligibility criteria specifically designed for first-time home buyers including self-employed individuals and gig economy workers.
MIC will collaborate with community leaders and party branch heads to assist members with application processes and ensure government benefits reach eligible recipients.
The party remains committed to working closely with the government to effectively deliver these benefits to grassroots communities.
The Housing Credit Guarantee Scheme was originally launched in 2007 by the Housing Credit Guarantee Corporation to support individuals struggling to secure home loans.
Budget 2023 strengthened the scheme with a RM5 billion allocation and increased the financing limit to RM500,000.
Prime Minister Datuk Seri Anwar Ibrahim highlighted ongoing assistance for the Indian community including RM972 million through STR and SARA programmes alongside RM2.5 billion in housing guarantees. – Bernama
