YMFH helps people own homes

by | Jan 18, 2023 | Business, PROPERTIES, SUSTAINABILITY | 0 comments

The Yayasan My First Home (YMFH), which commenced operations in 2022, with a RM5 million capital investment provided by its founder tycoon Tan Sri Vincent Tan has processed 2,000 applications so far from poor Malaysians to own their first home.

From those who applied, YMFH has assisted 19 families among which were squatters by providing down payments, deposits, legal and evaluation fees, among others to this pioneer group of applicants.

The foundation has committed itself to assisting more Malaysians from the B40 category to own their first homes and also invited other NGOs who are working with the Orang Asli to work with them also for the benefit of this community.

YMFH was set up by Tan Sri Vincent, who is the chairman of the foundation, to promote and facilitate the development of affordable housing and home ownership by moving those in the low income group from being tenants to first time homeowners.

For example, with the help of Melati Ehsan, a housing developer, YMFH have assisted squatters living in Batu Caves by providing them an interest free loan that covers the purchase of the houses and legal fees of RM 67,000.

YMFH also collaborated with EPIC Homes where a home for an Orang Asli family was built for Encik Lingser and Puan Kamariah in Kampung Orang Asli Serigala, Kuala Kubu Baru, Selangor as an initiative to include assisting the Orang Asli own homes.