LETTER | Grateful for 6-month PR1MA housing loan moratorium

LETTER | For those of us who purchased homes from PR1MA, we have to start paying our loans 24 months after the project starts, whether the house is completed or not.

My family was among those who purchased a PR1MA house in 2019 and soon after that, the Covid-19 pandemic hit Malaysia.

We took a loan from the Public Sector Home Financing Board (LPPSA) and had to start repayments in November last year, though our house is just about 50 percent completed.

The project was delayed due to the Covid-19 and the MCO.

This meant we would have had to pay RM350 for our current rental and also for our PR1MA home which was not even ready yet.

Paying for two homes is just too much for my family, and we were relieved when Housing and Local Government Minister Reezal Merican Naina Merican announced a 6-month moratorium recently.

We are hoping our homes will be completed by then and we are able to move in and give up our rented home now.

Unlike normal loans which only start payments once the owner gets the keys, PR1MA required us to start payments 24 months later.

Luckily the minister stepped in to assist us, otherwise, we would have surely gone deeper into debt.

My family would like to thank Reezal and the government for taking our plight into consideration.

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