http://www.thesundaily.my/news/2017/11/23/...own-scheme-bank

KUALA LUMPUR : Maybank Islamic today launched, Houzkey, a rent-to-own product targeted for properties below RM1 million.

The bank has partnered with five developers namely SP Setia, EcoWorld, Mah Sing, Gamuda and Sime Darby for its pilot launch--whose projects will be made available under the scheme.

To be rolled out next year, the banking group is eyeing a portfolio size of RM1 billion within the first year.

The launch was witnessed by Finance Minister II Datuk Seri Johari Abdul Ghani.

Applicants eligible for the scheme are those with a household income of at least RM5,000 and committed to a minimum rental tenure of five years. Customers will be subjected to a flat rental payment for the first five years.

They will also be able to purchase the property at a locked in rate, continue rental tenure with 2% annual rental step up or terminate agreement with no further obligations.

mcm gooding..can rent for 10 years n later buy? apo tnc?

This post has been edited by afoka: Nov 23 2017, 07:42 PM

lepas 5 yrs u either have to buy it, or their naik ur rent for your "own" house.

At the end, the bank always wins. No matter what scheme.

If can cancel the agreement at anytime without penalty or lock-in, for example moving away after only 9 months rental, then this is a worthy deal.

This post has been edited by acougan: Nov 23 2017, 08:16 PM

So we cant renovate the house right?

Lolz. Macam it can help the one who rent. This scheme smell similar like Telco lock u for 2 years plan. Only bank and developer untung.

This post has been edited by kcchong2000: Nov 23 2017, 08:21 PM

...........I don't see how this make any difference? In fact, this just give developers/banks more power to own your house and at same time retain high property price. Bear in mind, the money you put in the rent does not translate into owning property bit of pieces at a time, it's gone if you terminate rent. Secondly, unlike actual rent where landlord will be obliged to fix broken/old things, developers/banks will not do that.

This post has been edited by TrialGone: Nov 23 2017, 08:23 PM

For me quite good

They have lockin price mechanism

Means in 5 years they will get the same price to buy...

Usually if you rent outside like normal for 5 years when you want to buy your targeted house it is already out of reach already

http://agent.theedgeproperty.com.my/conten...rent-own-scheme

Got more benefits stated here, possible cash out option & stamp duty exemption

Curious on the mechanism of the lock in rate. Sound too good to be true. Need to wait for more details.

First thing I learn that bank will never ever do stupid financing plan. Too many hidden features which need to check properly.

Yeah hopefully anyone can share here

Wow, if the prices of these properties are reasonable, this may further dampen the current subsale market.

need regulation first la.
else how is this different from giving away cheap loan.
die die want to give loan to people who can't afford to buy such expensive house.
bnm already want to cool down the property price, these idiots die die want to bbb uuu.

If bank no untung, you do laaaaaaaaaaaa

So the rent t&c will not be the same like loan, no? Cos if its the same, no point...

Sewa beli rumah pulak dah

Serious win for bank.

hi, would you like to be a prisoner in your own home?

buy this overpriced property, we rent to you, and you work like a serf to earn the right to stay in your own property ya.