Skip to main content
For Informational Purposes Only

Answer to Oral Question PL123

Reading Summary

📖 Reading time: 3 minutes
📊 Word count: 455 words

YANG BERHORMAT PENGIRAN HAJI ISA BIN PENGIRAN HAJI ALIUDDIN​

QUESTION:

Yang Berhormat Pengiran Haji Isa bin Pengiran Haji Aliuddin requests the Minister of Development to state if the Ministry plans to implement an easier repayment scheme for those who have recently received housing (RPN), especially among those reaching the age of 55 to 60 years?

YANG BERHORMAT MENTERI PEMBANGUNAN​

ANSWER:

In the name of Allah, the Most Gracious, the Most Merciful. Peace and blessings be upon you. Allahumma Bless Our Master Muhammad and upon His Family and Companions.

  • Thank you, Yang Berhormat Yang Di-Pertua. Appreciation is also extended to Yang Berhormat Pengiran Haji Isa bin Pengiran Haji Aliuddin for raising the question regarding whether the Ministry has plans to provide an easier repayment scheme for housing loan recipients under the National Housing Scheme (RPN), especially those who have just received houses at the age of 55 to 60 years.

  • Before applicants are given houses under the National Housing Scheme, the Ministry of Development through the Department of Housing Development will first assess the applicant's ability to repay the housing loan that will be incurred.

  • If the assessment results indicate that the applicant is unable to fulfil the loan repayment, the Department of Housing Development will advise the applicant to obtain a co-payment bearer from among their children or close family members. This is in addition to the usual requirement of providing two guarantors for the housing loan. In situations where the monthly loan repayment rate is still considered high, the instalment amount can be reduced through additional (top-up) payments by the applicant. This additional payment can be made either by using savings from the National Retirement Scheme (SPK) earmarked for housing or through the Housing Savings Scheme. This scheme is a special savings program managed by the Employees Trust Fund (TAP) to assist individuals in saving specifically for housing purposes. Through this scheme, applicants can accumulate funds which can later be used for down payments on houses or to reduce the housing loan balance, thereby lowering the monthly instalments required to be paid.

  • Additionally, the Department of Housing Development also allows applicants to utilize savings from the National Retirement Scheme belonging to close family members (such as spouses or children) to assist in repaying the housing loan.

  • For low-income applicants of the National Housing Scheme, the Ministry encourages them to join the Housing Savings Scheme under TAP's management to enhance their financial capability towards owning a home. By participating in this scheme, applicants can build savings that can later be used to ease down payments or housing loan instalments. Participation in the Housing Savings Scheme is subject to eligibility criteria set by TAP.

  • This is what Kaola can briefly explain regarding the question raised by Yang Berhormat Pengiran Haji Isa. Thank you.

Help Needed
Help needed with proof-reading, verification of content extracted from PDFs, and Jawi and Arabic characters, please email pr@queeniecy.com if you have experience with Markdown.
Disclaimer
The information presented on this webpage is based on processed PDFs downloaded from the official website using OpenAI technology. We have taken steps to ensure accuracy, but if you identify any discrepancies or issues, please kindly notify us at pr@queeniecy.com so that we can make necessary adjustments. Thank you for your understanding and cooperation.
Disclaimer
The information provided on this website is for general informational purposes only. While we strive to keep the information up to date and correct, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the website or the information, products, services, or related graphics contained on the website for any purpose. Any reliance you place on such information is therefore strictly at your own risk.

In no event will we be liable for any loss or damage including without limitation, indirect or consequential loss or damage, or any loss or damage whatsoever arising from loss of data or profits arising out of, or in connection with, the use of this website.

Through this website, you may be able to link to other websites which are not under our control. We have no control over the nature, content, and availability of those sites. The inclusion of any links does not necessarily imply a recommendation or endorse the views expressed within them.

Every effort is made to keep the website up and running smoothly. However, we take no responsibility for, and will not be liable for, the website being temporarily unavailable due to technical issues beyond our control.