KUALA LUMPUR, April 10 — Syarikat Jaminan Kredit Perumahan Bhd (SJKP), a wholly-owned subsidiary of the Minister of Finance Inc, has to date approved more than 100 per cent guarantee coverage for financing worth RM450 million, benefitting about 2,000 first-time house buyers.

With SJKP giving guarantees of over 100 per cent on the financing amount, house buyers need not worry about giving the 10 per cent deposit to the housing developers, it said in a statement today.

Since its incorporation in 2007, SJKP has helped 17,566 borrowers in the low-income group to own their first home with a 50:50 approval ratio between non-fixed income earners and those with a fixed income.

"SJKP continues to support the government’s aspiration to assist those with and without a fixed income to own their first home,” it said.

In Budget 2023, the government has allocated RM5 billion for the Housing Credit Guarantee Scheme with a financing limit of up to RM500,000.

"It is SJKP’s hope that through this government guarantee, more financial institutions will play their role to provide financing facilities to the target group of people seeking to purchase their first house,” it added. — Bernama