Bank Muamalat offers home loans to those without income statement

KUALA LUMPUR; Bank Muamalat Malaysia Bhd is offering financing up to RM400,000 through its home loan Smart Mortgage SJKP (Syarikat Jaminan Kredit Perumahan) scheme to help self-employed and non-fixed income earners, including gig economy workers, business owners and small traders or entrepreneurs to own their first homes.

The scheme is guaranteed by SJKP to help those without monthly income statement to own a house.

For those who are eligible, the amount of financing provided through this scheme includes related expenses such as mortgage reducing term takaful, long term house owner takaful, legal and valuation fees.

This is a zero-entry cost package for new home owners with 100% margin of financing with all moving costs and related expenses to be financed by the bank.

The home loan scheme has been proven in assisting home buyers to own their first dream house under the bank’s collaboration with SJKP, which has commenced since October 2019.

The bank said it has always placed an emphasis on efforts to assist the affordable market segment to own a house.

Its president and CEO, Khairul Kamarudin, said the rising cost of living and market price of owning a home have caused potential first-time home buyers to defer their plans. With the home loan scheme, eligible house buyers have the opportunity to own their first home.

“Following the increase in cost of living and higher market price, costs and fees to own a house and further with an extra allocation for deposit to own a house, potential house buyers have put their plans on hold. However with the Smart Mortgage SJKP scheme, potential house buyers can proceed with their plans to own their first homes,” he said in a statement today.

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