SELANGOR, 19 August: IOI Properties Group Berhad (IOIPG) has teamed up with Affin Bank Berhad to offer homebuyers financing solutions through the Affin Home Step Fast/i loan.
Affin Home Step Fast/i loan is designed to appeal to all spectrum of home buyers and property investors as they will enjoy low monthly repayments for the first five years by servicing only the interest.
Homebuyers also enjoy flexibility with no lock-in period or early settlement fees and can choose from either conventional or Islamic financing solutions. IOIPG Chief Operating Officer, Teh Chin Guan lauded Affin Bank for its one-of-a-kind home loan that would highly benefit prospective homebuyers.
“The innovative solution that Affin Bank is offering allows buyers to enjoy a low monthly instalment payment for 5 years as compared to a conventional home loan. It will help to ease the burden of prospective homebuyers that may be troubled by job insecurity, uncertain economic growth and possible interest rate hike,” he said.
With the Affin Home Step Fast/i loan, homebuyers can enjoy a financing margin of up to 90% with an additional 5% allocated for MRTA/MRTT/CLTA/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.
Other benefits of the loan include redrawing facilities for excess payments as well as a wide range of coverage to protect property such as mortgage reducing term assurance (MRTA), mortgage reducing term takaful (MRTT), personal accident, home contents insurance, fire insurance, householder insurance, credit level term assurance (CLTA) and mortgage level term takaful (MLTT).
The Affin Home Step Fast/i loan 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.
“By offering Affin Bank’s Home Step Fast/i loan together with free stamp duty on the memorandum of transfer (MOT) by iMilik, prospective homebuyers are assured that they can now own their dream home with IOI Properties Group,” said Mr Teh.