En.Nasrul giving a speech before starting the event.

Date: 22 November 2018

Venue: Alam Harta Realty Office

Speaker: Mr Teh ( Maybank)

Maybank HouzKEY is the way home ownership is based on the Islamic concept of Ijarah. Among the conditions:

  • With pay three months deposit
  • Can choose a rental period, from 5 to 30 years
  • Rental rates are the same for the first 5 years, and increase by 2% each year
  • Maybank can inform you if you want to renovate the house
  • Can buy or sell the house after the first year

The minimum rental period is 5 years. After that you have several options:

  1. Continue to rent: Rent goes up 2% for each subsequent year.
  2. Cancel to purchase: You can leave this scheme and no penalty is charged and the deposit will be refunded.
  3. Buy / sell house: You can buy a home for cash or by making a loan (without pay). You can even sell the house to a third party (which you can do after the first year).

(If you want to get out of the scheme before 5 years, you still have to pay for the remaining years.)

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