24 April, SETIA ALAM – S P Setia and Maybank came together for the second year to launch FlexKey, an enhanced HouzKEY by Maybank financing scheme. The new rent-to-own (RTO) home ownership solution is now not only applicable for completed homes but selective new launches too!
For the first time in the industry, homebuyers will be happy to note that they now are able to select first-hand their choice unit and preferred location from the newly launched properties offered under this scheme rather than being limited to completed units that are available.
What more, with the downpayment of 10% removed and in place, rental fees, owning a home has never been made more affordable. Setia FlexKey is an alternative financing scheme to help first-time homebuyers on their journey to home ownership; homebuyers will be able to enjoy the flexibility of converting rentals paid as downpayments towards purchasing a home at locked-in prices.
“The option of choosing a Setia home that is newly-launched is definitely a push factor for first-time homebuyers to own their own property. Under the FlexKey scheme, a wide selection of properties to suit respective lifestyles and needs on top of preferred locations are available for qualified homebuyers to choose from, including units from Setia’s award-winning townships at Setia Alam and Setia EcoHill 2 in Klang Valley,” Dato’ Khor Chap Jen, President & CEO of S P Setia said at the event launch.
“The launch of Setia FlexKey certainly comes as a timely attraction for young or first-time homebuyers as it is a smarter alternative to achieve better cash flow considering its low entry cost of only three months’ refundable deposit. Hence, this scheme is also anticipated to appeal to varying target markets regardless of their financial backgrounds,” he added.
“The fact that they can now choose newly-launched units is attractive and Setia is proud to be able to offer this first-of-its-kind arrangement in the industry,” Dato’ Khor highlighted.
In addition within the fifth year, should the housebuyers decide to own the house, homebuyers will be able to purchase it at the locked-in price. Considering the array of benefits offered by this scheme, Setia anticipates an increase of home purchases in the coming months after homebuyers get to know more about this offer.
“We are truly proud of this collaboration with S P Setia, and we believe that our HouzKey product is the perfect fit for this FlexKey scheme. Working together, we are widening our reach and opening up opportunities for more Malaysians to own properties without having to worry about the high upfront costs associated with purchasing a property. We want to be the game changer in the market, and Maybank will continue to lend its support in home ownership programme in Malaysia, in line with the bank’s mission in humanising financial services.” said Sally Lye, the Managing Director of Maybank Real Estate Ventures.
Last year, Maybank launched HouzKEY, a rent-to-own scheme to the public, the first by a bank in Malaysia. Designed to assist first time homebuyers, the scheme provides an alternative solution for customers to own their desired homes with minimal upfront cost of 3 months refundable rental deposit only. Customers are also given the flexibility to purchase the property any time after 12 months of renting at a locked-in price.
The Setia FlexKey scheme is available for a wide selection of projects consisting of S P Setia’s residential properties in the Klang Valley, Johor and Penang from now until 31 December 2019. For enquiries on the FlexKey scheme, please log on to www.spsetia.com/flexkey.