He said this was so that banks can show their support for the Prime Minister's goal for more young Malaysians to be first time homeowners as well as carrying out their Corporate Social Responsibilities to society.
"I want to take this opportunity to call upon all the banks, especially all branches of banks in Sabah.
They should actually come forward to support our Prime Minister's call and dream to deliver at least one million units (homes) nationwide for Malaysians but, for a start, there would be 50,000 units for the State in order to provide this kind of homes for our youngsters to own.
"In order for that to happen, the banks must come in.
The banks must give more lenient approval for those applicants under the scheme. Don't be too strict to check their CTOS credit files or Central Credit Reference Information Systems (CRISS). This approval should be considered to be part of their corporate social responsibility."
Goh said the banks may consider those applying under the scheme to potentially have a higher default due to their lower income but because they are fulfilling their CSR duties like Shareda members they should approve these loans.
He said banks must give special leniency to qualified applicants under the scheme already approved by Shareda and approved by the Ministry of Urban Wellbeing, Housing and Local Government (KPKT) with the MyHome RM30,000 funding and give them an automatic loan without considering their background and income, CTOS or CRISS because the product itself is already 30 per cent lower than the prevailing market price as part of Shareda's fulfilment of its corporate social responsibility.
"If a buyer or the first time house owner fails, then the bank can anytime foreclose on the property and auction in the market and they will surely get back the loan they have given to the first time house buyer.
This is because the affordable property offered is actually 30 per cent lower than the prevailing market rate, plus the MyHome RM30,000 funding by the Government as well as the fact that the property is subsidised by developers as they have lowered their profit margin, so you already get a surplus value of about 25 to 30 per cent. Shareda cannot do it alone, the bankers must come in as well.
"We do not want to see cases where confirmed house buyers with approval from Shareda and from KPKT with RM30,000 funding fail to secure their loan of less than 90 per cent. This, I foresee, would be the obstacle if the bankers are not coming in."
He said this during a press conference after presenting a MyHome Scheme briefing to Shareda members at Wisma Kinsabina in Penampang, Thursday.
Goh said Shareda would also like to take the opportunity to thank the Government for being attentive to the needs of Malaysians through the MyHome scheme.
The MyHome Scheme was announced by Prime Minister Datuk Seri Najib Tun Razak on Oct 25, 2013 as a way to encourage the private sector to build more affordable homes for Malaysians.
The scheme offers a RM30,000 incentive to first time home buyers and housing developers.
For 2014, the Government has set aside RM300 million for the construction of 10,000 units of affordable homes nationwide.