Pinhome Presents Property Financing Services for People with Non-Fixed Income
The need for housing has always been an interesting topic to discuss. Many people already have an idea of their dream home in the future. However, house prices are increasing every year, making some people confused about whether to rent or start paying for a new house.
In 2020, BPS stated that more than 71 million low-income people in Indonesia, 15% of them or around 11 million people do not have a decent house to live in. One of the main obstacles faced by potential buyers is an expensive down payment which usually reaches a minimum of 15-20% of the total house price.
Seeing the facts that are happening to the community, the marketplace platform for buying and selling and renting property (proptech) Pinhome introduces the latest solution, namely a special house installment program to facilitate low-income people and non-fixed income (NFI) people to own their dream home. with the tagline #CicilDiPinhome.
“We hope that with this program, more and more people can get their dream home towards a better life.” Pinhome’s Founder & CEO Dayu Dara Permata explained.
How to Get Installment Facilities at Pinhome
Armed with the main vision to provide easier access to the property industry to improve livelihoods and financial inclusion for the people of Indonesia, the #CicilDiPinhome program can be enjoyed in four easy steps.
First, consumers determine the dream house they want to own, and Pinhome will conduct an inspection of the legality of the house.
The second step is for consumers to send required documents such as ID cards, NPWP, proof of income, and pay a refundable first payment. Finally, consumers can now occupy the house of their choice and pay monthly installments until it is paid off.
Several value propositions are also offered, including without requiring a checking process from BI or the Financial Information Service System (SLIK), which makes this program open to those with irregular incomes.
In addition, the #CicilDiPinhome Program does not require an income profile attachment and offers flexible installments of up to 50%.
Pinhome Chief Commercial Officer Muhammad Hanif also revealed, “We also see that there are some consumers who actually already have sufficient income, but cannot enter the banking mortgage criteria because their income is not fixed.”
At #CicilDiPinhome the company tries to simplify the documents needed by potential buyers, while maintaining transaction security because all landed houses that enter this program can be monitored through the Pinhome website.
Cooperation with SMF
In providing this service, Pinhome cooperates with PT Sarana Multigriya Finansial (Persero) which is a BUMN under the Ministry of Finance which was specifically established to support the housing sector.
This collaboration is carried out in the context of synergizing the provision of homeownership facilities which will later realize the Rent to Buy Mortgage Program with a rent-to-own scheme.
This product is expected to increase access for low-income or non-fixed income people to be able to own housing through a rental scheme and then proceed with the option to buy in the middle or at the end of the rental period.
The Director of Securitization and Financing of SMF Heliantopo revealed that SMF’s presence as a Pinhome partner is a manifestation of the state’s presence to support the improvement of community welfare, especially low-income communities in order to fulfill housing needs.
SMF as a Special Mission Vehicle (SMV) under the ministry of finance has a mission that is in line with Pinhome to be able to realize access and affordability for every community in Indonesia to be able to have decent housing.
“For this reason, the lease-purchase program is expected to reach segments of the community who have limited access (unbankable),” he said.
To date, Pinhome has offered more than 600 thousand property options with around 25 thousand service providers spread across 100 cities.
In addition, the company has collaborated with more than 20 banks and multi-finance companies throughout Indonesia to provide a variety of offers and financing for potential buyers.