• HouzKEY Rent-to-Own Solution
  • What customers say
    What’s unique about HouzKEY is that you don’t have to put up a large amount of down payment.

    Khairull’ Anuar
    The process was smoother and easier than I thought it would be!

    Everything could be done with the click of a button.

  • FAQs - Buyer

  • What is the key difference between HouzKEY & Mortgage?

    The key difference in terms of HouzKEY scheme is that Maybank is able to help customers finance 100% of the property value instead of at 90% margin of finance under a normal mortgage facility. On top of that, HouzKEY helps to pay the upfront costs such as legal fees, stamp duty, memorandum of transfer that customers typically have to pay up for any home purchase.

    The minimum requirement under HouzKEY is that customers need to pay 3 months refundable security deposit at the point of signing up agreement with Maybank to undertake HouzKEY facility.

  • Can you advise further how I can save by taking up HouzKEY as compared to Mortgage?

    Below are the Comparison of Cash Flow between HouzKEY and Mortgage for your kind understanding.

    Property Amount
    SPA Purchase PriceRM500,000RM500,000
    Financing Amount/ Lease Value1RM517,000RM450,000
    Transactional Costs
    At Year 0:
    Deposit 10%N/ARM50,000
    Transactional Costs(Legal, Stamp Duty, etc)2N/ARM17,500
    Security Deposit (3 months rental)RM8,192N/A
    Total Initial Cost per CustomerRM8,192RM67,500
    Initial Cost as a % of SPA Purchase Price2%14%
    Total Payment for the first 5 years
    Monthly Rent/ InstallmentRM2,731RM2,280
    5 Years Accumulated PaymentsRM163,848RM136,805
    Total Payments in 5 YearsRM172,041RM204,305
    Initial Savings Under HouzKEYRM32,264

    Note: The above costs do not include any other expenses related to the individual properties such as quit rent, assessment fee, maintenance fee that would vary from one property to another.

    1Lease Value for HouzKEY includes transaction costs on the property value.
    2Transactional costs of 3.5% above is based on the average cost for individual title property.
    3Mortgage Profit Rate @ 4.50%.

    As per above illustration, HouzKEY scheme allows customers to purchase a home with minimal upfront costs. The savings of these upfront costs allows customers to cushion any future emergency needs or to be allocated for a return generated investment accordingly as customer's wealth preservation strategy.

  • Can I still take HouzKEY for property that is not listed in maybank2own portal?

    Hi, thank you for your interest in HouzKEY.

    Great news for you, we can do any property below RM1 million value and area (Klang Valley), even for the property you have found on your own and not listed with us currently.

    Should you like to proceed, kindly share your details i.e. Name, contact number, and email. Our team will be contacting you soonest we have your particulars. We can help to assess your eligibility first to help you narrow down the property selection.

    Once we have completed the above step, we will help you to contact the agent/seller of the property of your choice to kick-start the buying process.

  • When will the product be expanding to other states?

    We are looking forward just to spread HouzKEY to other states in Peninsular Malaysia and East Malaysia, as we currently started focusing on Klang Valley. We will announce new location coverage in future.

  • I need to understand the rental structure.

    1. Does the monthly rental under HouzKEY help to pay my home purchase?

    Yes, the monthly rental is similar to a mortgage instalment. Every monthly rental paid will help to reduce your principal amount of your debt.

    2. How is my monthly rental amount calculated?

    Monthly rental amount is calculated using the prevailing profit rate, which is pegged to the Bank's Islamic Base Rate*. The rental schedule for the whole tenure is based on a fixed prevailing profit rate, similar to mortgage.

    In addition, should you decide to continue renting after the minimum rental period of 5 years, there will be a 2% rental step-up applied annually on the previous year's rental amount.

    In the event there is a change in the Bank's Islamic Base Rate, the monthly rental amount will change accordingly and you will be duly notified by the Bank.

    * Annual rate specified by the Bank from time to time as Its Islamic Base Rate or if the term Islamic Base Rate is no longer applicable, then the rate periodically stated by the Bank for its customer regardless of the term used to refer to it.

    3. What is the 'interest rate' calculation of HouzKEY instalment compared to mortgage?

    HouzKEY profit rate is competitive with other home financing products offered by banks.

    4. Will the monthly rental payments I make be used to off-set the purchase price of the home?

    Yes. The monthly rental payments will over time help Customer to reduce their Option to Purchase Price, as shown in the purchase price schedule. If you decide to exercise your Right to Purchase, you must pay the pre-determined price based on the formula as set forth in the purchase notice in the Lease Agreement.

  • What are the necessary information I need to know?

    1. What happens in the event of death of the Customer?

    If the event of death of the Customer, the lease agreement will then be terminated. Thus, it is important for the Customer to name a nominee during signing of lease agreement with the Bank, as the nominee will have the right to continue with the Customer's lease agreement.

    2. What should I consider before naming a nominee?

    The nominee will need to have an intent and financial ability to continue with the lease agreement in the event of death of the Customer. All parties of the lease agreement should be informed by the customer on the named nominee.

    3. Do I need to consider taking Takaful?

    Fire Takaful will be compulsory to be taken by the customer anytime during the tenure where applicable. Customer is also advised to take a life Takaful on the property purchase price and the property will be given to the Customer's estate or nominee (if applicable) upon death.

  • What I need to know once I have signed up for HouzKEY?

    1. When do I start paying rent?

    The first rental will kick start when you have received move-in notice from the Bank where you are able to immediately move in to your new home.

    Maybank will send the rental invoice on the 22nd of every month. In the event that the move-in notice is received past the 22nd, the rental will be brought forward to the following month's billing.

    2. What if I choose to walk-away before the minimum rental period ends?

    You will be obliged to pay the remaining of the minimum rental period that you did not serve and is due immediately upon termination.

    For any other solution to reduce the amount due, you should consult the Bank. However, offer will be at the Bank's discretion, if any.

    3. What do I do if I want to ensure that I am able to continue renting at the property after the lease term?

    You should execute the tenancy notice within the time period as notified by the Bank for the renewal of your tenancy period.

    4. When can I purchase the property?

    You need to serve a minimum 12-month rental period, after which you have the option to purchase at Maybank at the remaining outstanding as defined in the rental schedule.

  • When can I be an Owner of the property I chose?

    1. When can I become the owner of the property rented under HouzKEY?

    As a lessee under HouzKEY scheme, you can choose to be an owner after a minimum rental period of 12 months.

    2. How do I exercise my right to purchase?

    You can exercise your right to purchase at any time during your rental tenure by way of request notice via your own account management in maybank2own portal. Once the Bank receives your written notification, we will contact you to get the process started. Should the process take a longer time and extend beyond the rental tenure, the Bank will continue the rental arrangement with you on a month-to-month basis until the purchase is in full effect.

    3. Can I exercise my right to purchase the property before the end of the minimum 5-year rental period?

    Yes, as per the lease agreement signed between yourself and the Bank, you are allowed to exercise your right to purchase any time after the 12-month rental period.

    You must notify the Bank of your intention to purchase the property via a written notice or through your account on maybank2own portal.

    4. Can I buy a home in the middle of a rental tenure or do I have to wait until the end of the year?

    You can exercise your right to purchase at any time after 12-month renting, subject to Option to Rent has been exercised/renewed where applicable. The Bank will calculate the exact Purchase Price based on the period chosen.

    5. Do I need to prepare for any payment when I exercise my right to purchase or Cash-Out?

    a) Purchase option

    When you choose to exercise your right to purchase, you will have 2 options to execute the purchase;
    Option 1) Secure a mortgage facility or Option 2) Purchase with cash money.

    For purchase option, Maybank is able to offer mortgage to existing HouzKEY customers immediately upon request, subject to customer making good payment record. Other cost such as legal fees and Mortgage Reducing Takaful (MRTA) may be included by Maybank. Alternatively, you can also opt to take other mortgage facility to purchase if you wish to do so.

    b) Cash-Out Option

    Customer can choose by instructing the Bank to sell the property to a third party buyer, determine selling price and make profit from the amount difference with the bank. Please note that Real Property Gain Tax (RPGT) may be applicable on the property gains enjoyed upon the sales. The applicable rates will be based on the length of period you have served under HouzKEY scheme.