When we first buy property, many of us take for granted that the loans that we sign, alongside with the BLR rates are pre-fixed. Even after shopping around for the best mortgage package, many of us do not realize till we are half-way through repayments and waist-deep in debt that our situation could be handled better. This situation is what prompted Kevin Cheong to begin AceScube with his partner, the possibility of being debt-free faster.
Exactly five years ago, on a sunny March morning, I signed the paper that made it official: I had formed a company with my partner. A company that in many ways was an extension of our passion in achieving debt free status earlier and easier for everyone. Many people predicted we would not last a year in this niche, we were too idealistic to cope with daily business life, and that we would get into a “virtual” mess in no time.
Five Years From Now
Fortunately, these people were wrong. However, it was not just us who proved them wrong, not alone, anyway. Almost five thousand customers to date has came in to this company to monitor their loan tenure against the fluctuation of BLR, to slash interest and tenure over the last five years, and has stayed faithfully ever since.
Five years is both a long and short time. Compared to giants such as a bank and insurance company, our company is still in its adolescence. On the other hand, five years of pioneering a sector that is the first in Malaysia and Asia is an achievement we are proud of. It means we have managed to establish ourselves and claim our rightful place in this sector.
Where are you going to be in five years? What will you be doing from 9 to 6 every day? What motivates you to work? Most of us are working to pay off our debt. With Bank Negara’s latest statistics, Malaysian household debt is 76.6% of GDP but household debt compared to disposable income (140%) is more crucial.
Over the years, our household debt has been increasing at an annual rate of over 10 per cent, excluding hidden borrowings from unregistered financial companies. The situation is worrisome enough to prompt Bank Negara to step in and apply the brakes. We may not lose any sleep yet over the household debt as a percentage of GDP but household debt that is disproportionate to disposable income, if left unchecked, will not only cause fiscal insomnia but something much worse – an economic nightmare.
What We Do to Make a Difference
Looking at the facts, our outstanding Customer Appreciation Program (CAP) stands to benefit all property loan borrowers from excessive gearing on property purchases. As the most comprehensive BLR Management System, Slash Interest Methodology (SIM), is a premier scheme that slashes interest payable and loan tenure by 30% to 75% with 99% accuracy. It is a flexible and customized scheme that is tailored to suit individual affordability and needs. No refinancing and partial lump sum payment is required to achieve targeted saving. With CAP, AceScube aims to help every property loan borrower by introducing a Borrower Help Borrower (BHB) Campaign.
To achieve OPTIMUM Interest Saving, we advise on:
WHEN to pay?
HOW much to pay?
HOW to pay
Customer Appreciation Program (CAP)
Before the launch of CAP, only selected customers took up the BLR Management Service. Today, we would like to help every family fully own at least one residential property despite the continuous challenges of BLR and interest structures. To make the BLR Management Service a must-have service for every home buyer in the near future, a customer pays a monthly service fee for as low as RM 20 subject to loan amount and tenure. The best is, 20% cash incentive will be given for the first 5,000 customers as a reward to gain FREE BLR Management Service as well as getting others to pay for your debts.
For middle- to lower-income groups who pay higher household debt versus disposable income monthly, this group is under the exposure to high inflation rates. Therefore, starting with SIM 0 without adjustment of monthly repayment although is zero savings will help to monitor loan interest and tenure to avoid paying extra interest.
This article is contributed by AceScube, which provides training in loan calculation, banking and finance knowledge and other business and communications know-how for entrepreneurs. For more information on starting a business with them, you may drop them an email at firstname.lastname@example.org to find out more about BLR Management.