PETALING JAYA: IOI Properties Group Bhd (IOIPG) has teamed up with Affin Bank Bhd to offer homebuyers financing solutions through the Affin Home Step Fast/i loan.
Affin Home Step Fast/i loan is a home loan designed to appeal to all spectrums of homebuyers and property investors, which will feature low monthly repayments for the first five years by servicing only the interest. It is flexible with no lock-in period or early settlement fees and home buyers are able to choose from either conventional or Islamic financing solutions.
The home loan will feature a financing margin of up to 90% with an additional 5% allocated for mortgage reducing term assurance (MRTA); mortgage reducing term takaful (MRTT); mortgage level term takaful (MLTT); credit level term assurance (CLTA) and mortgage level term takaful (MLTT), legal and documentation costs, stamping and valuation fees. The loan tenure is for up to 30 years or until 70 years of age and it is applicable for residential properties worth RM500,000 and above that are completed or under construction under the Housing Development Act 1996.
IOIPG group COO Teh Chin Guan said the home loan would highly benefit prospective home buyers.
“The solution that Affin Bank is offering allows buyers to enjoy a low monthly installment payment for five years as compared to a conventional home loan. It will help to ease the burden of prospective home buyers that may be troubled by job insecurity, uncertain economic growth and possible interest rate hike.
“By offering Affin Bank’s Home Step Fast/i loan together with free stamp duty on memorandum of transfer by iMilik, prospective home buyers are assured that they can now own their dream home with IOI Properties Group” added Teh.
Additionally, other benefits of the loan include redraw facilities for excess payments as well as a wide range of coverage to protect property such as MRTA, MRTT, personal accident, home contents insurance, fire insurance, householder insurance, CLTA and MLTT.
It is applicable to a wide range of properties located around IOIPG’s integrated developments in the Klang Valley including IOI Resort City in Putrajaya, Bandar Puteri Puchong, Bandar Puchong Jaya, Bandar Puteri Bangi, Warisan Puteri Sepang and 16 Sierra, as well as Bandar Putra Kulai, Marina Cove, The Platino and Taman Kempas Utama in Johor.