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.