New SLIK Rules: Small Credit History Does Not Hinder Mortgage Applications

JAKARTA, KOMPAS.com – The government’s efforts to accelerate the three million housing development programme continue to be driven through strengthened policies in the financial services sector. The Financial Services Authority (OJK) has reaffirmed its commitment to supporting the programme, including through adjustments to policies on the Financial Services Information System (SLIK) and enhanced synergy with various stakeholders. OJK Commissioner Chairman Friderica Widyasari Dewi stated that this support is part of efforts to expedite the realisation of national priority programmes in the housing sector, particularly for low-income communities (MBR). “OJK strongly supports the three million housing development priority programme,” Friderica said. One of the main policies decided at the OJK Commissioners’ Meeting is the change in the scope of information displayed in SLIK. Going forward, the recorded data will only cover credit or financing with a nominal value above Rp1 million, whether based on the ceiling or outstanding debit for each debtor. This step is considered important to provide greater space for the public, especially prospective debtors with small credit access, so they are not hindered by records of very low-value loans. Thus, the credit analysis process is expected to become more proportional. In addition, OJK is accelerating the process of updating loan repayment data in SLIK. Loan repayment status is now targeted to be updated no later than three working days after the loan is settled. This acceleration of data updates is expected to reduce administrative obstacles that the public has often faced when applying for Home Ownership Credit (KPR), especially when repayment data has not been recorded in real-time. To strengthen support for the housing financing programme, OJK is also providing access to BP Tapera for SLIK data in accordance with applicable provisions.