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  • Malaysians without a payslip can get housing loans using only their digital footprint soon

    Malaysians without a payslip can get housing loans using only their digital footprint soon

    The Federal Government is set to launch a new residential property financing initiative called ‘i-Biaya’ this Thursday (14 April 2022) which will review the existing housing financial model in our country. With i-Biaya, new methods will be used to determine loan applicants’ eligibility, including their credit or digital footprint.

    The initiative, part of the Malaysian Family Homeownership Programme (HOPE) seeks to improve home ownership among the B40 and M40 income groups in our country. Currently, many potential buyers could not own a house despite having a steady income due to them working in the gig economy sector or are self-employed, such as petty traders with no payslip.