BTN Boss Promises Mortgage Disbursement Within 5 Days

The government continues to push strategic measures to accelerate the Three Million Houses Programme to provide decent housing, address the backlog, and stimulate the national economy. Bank BTN, a state-owned enterprise focused on housing finance, has affirmed its role in supporting the programme, a commitment it has held since 1976 through the Mortgage (KPR) scheme. BTN President Director Nixon Napitupulu stated that the bank is targeting the disbursement of mortgages for 300,000 to 350,000 housing units. To achieve this, BTN is implementing a business process transformation that will allow mortgage funds to be disbursed in a maximum of five days, and even as quickly as three days, through a strengthened digital system. The bank is also driving demand through nationwide socialisation, national housing exhibitions, and competitive interest rate promotions for non-subsidised programmes. BTN channels mortgages through various schemes, including the Housing Finance Liquidity Facility (FLPP) and the Housing Programme Credit (KPP) for MSME entrepreneurs, for which it has already disbursed Rp 4.1 trillion of a Rp 10 trillion target. Napitupulu acknowledged that current challenges involve the supply side, particularly the speed of house construction and permit processing, which need to be resolved to meet the bank’s targets.