HouzKEY is a rent-to-own solution which allows customers to rent & own the property of their choosing.
HouzKEY is specially designed to assist those who intend to be homeowners but are not able to due to the high initial cost. The key benefits of this product:
Key difference in terms of HouzKEY is that Maybank is able to help customers to 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 that may go up to 3.5% of property value.
The minimum requirement under HouzKEY is that customer need to pay 3 months refundable security deposit at the point of signing up agreement with Maybank to undertake HouzKEY facility.
There is a minimum contract period of 5 years up to 30 years.
You have 2 options to start your application. You can browse through www.maybank2own.com or find your preferred property in other portals:
Yes. Applicant may find other properties not listed in maybank2own for the bank’s assessment. Once your eligibility & property are assessed, the property will be listed on the portal and the applicant can apply directly for the said property via maybank2own portal.
At the moment, HouzKEY is only available in Klang Valley. However, we are looking to offer HouzKEY to other states in Malaysia in the future.
Yes, the monthly rental is similar to a mortgage instalment. Every monthly rental paid will help to reduce your principal amount from your total obligation.
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* Annual rate specified by the Bank from time to time as Its Islamic Base Rate or if the term Islamic Base Rate is no longer applicable, then the rate periodically stated by the Bank for its customer regardless of the term used to refer to it.
HouzKEY profit rate is competitive with other home financing products offered by all banks in Malaysia.
You are required to upload the following documents in your application:
Yes. If there are more than two (2) customers applying for the same property, you will be informed of your queue number after you have submitted your application.
Upon notification of successful application, the first customer who execute the Lease Agreement and make payment at our Hub will be given the right to attain ownership over the selected property.
No. If you would like to apply for a different property, you would have to cancel your existing application in “My Application” tab.
You can add your guarantor(s) by entering their full name (as per NRIC), NRIC number, phone number and a valid email address during application. Once your application is submitted, your appointed guarantor will receive an email & SMS from us for their next action. Should they agree to be your guarantor, they will be required to upload the following documents within 3 calendar days from the date of our email:
No amendment is allowed after submission, unless informed by the bank to provide additional documents through a secured link.
You will be notified via email & SMS on your application status. You can also check your application status in “My Application” tab.
You are required to furnish the required documents to us within 3 calendar days from the date of the email or system will auto close your application.
Yes, it will be reflected in your CCRIS report.
You may contact our general line 03-20708833 ext. 11608/11612 or webchat with us via www.maybank2own.com during weekdays between 9am to 8pm (excluding public holidays). Or drop us a note at email@example.com with your contact details and request for assistance. Our officer shall contact you to assist.
You and your guarantor (if any) will have to come to our Hub (address as per email notification) for payment and execution of Lease Agreement and any other relevant documents within 14 calendar days from the date of email notification.
You can make payment at our Hub via credit/debit card or JomPay. Please ensure your credit/debit card transaction limit is sufficient for the payment prior to execution.
The 1st rental will kick start when the move in notice is issued by the Bank. The bank will advise on the payment amount and due date. Move in period is when you are able to collect keys.
Maybank will send the rental invoice on the 22nd of every month. In the event that the move in notice is past 22nd, the rental will be brought forward to the following month’s billing.
You will be obliged to pay the remaining of the minimum rental period that you did not served and is due immediately upon termination.
For any other solution to reduce the amount due, you should consult the Bank. However, any offering will be at the Bank’s discretion, if any.
You should execute the tenancy notice within the time period as notified by the Bank for the renewal of your tenancy period.
a) Purchase option
When you choose to own the property, you will have 2 options; first option is to secure a mortgage facility or second option is to purchase with cash money.
In 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.
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.
b) Cash-Out Option
Customer can choose to instruct the Bank to sell the property to a third party buyer. Customer can determine the selling price and make profit on the difference with the amount to 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.
You need to serve minimum 12-month rental period, after which you may proceed with the transfer of ownership from Maybank at the remaining outstanding as defined in the rental schedule.
Yes, as per the lease agreement signed between yourself and the Bank, you are allowed to transfer ownership any time after the 12-month rental period.
You must notify the Bank of your intention to purchase the property via request notice through your account on maybank2own portal.
You can transfer the ownership 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.
Yes, Maybank will immediately offer you a mortgage facility for transfer of ownership.
If an event of death of the Customer occurs, a nominee is allowed to continue the rental arrangement. Thus it is important for the Customer to name a nominee during signing of lease agreement with the Bank.
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.
The nominee must be at least 18 years old and must have an intent and financial ability to continue with your account. You are required to notify your guarantor(s) (if any) on the appointed nominee.
After your HouzKEY account is active, you can proceed to appoint a nominee in ‘“My Nominees” tab.
There are two (2) types of Takaful/Insurance coverage that are relevant for your property under HouzKEY:
You can change your contact details in “My Account” tab after you are logged into www.maybank2own.com
You are advised to update your profile as and when there are any changes to your details.
Please contact us immediately at 03-20708833 ext. 11608/11612 or email us at firstname.lastname@example.org
You may self-reset your password at the log-in page in www.maybank2own.com
Your account will be terminated in the event of your passing. Hence, it is important for you to appoint a nominee to continue with your account and attain ownership over your property.
We shall respond within 1 working day.
If you would like to know more about HouzKEY, please refer to our Product Disclosure Sheet here.
Google form link which can be retrieved via enquiry to email@example.com. Once the Google form is submitted, we shall email you a PDF copy of the property listing as proof of the submission.
Yes, the agent should inform us at firstname.lastname@example.org or our portal webchat.
We advise the agent to watermark your own name in your pictures that you have submitted to us for easy reference. In addition, upon publishing your submitted listing in our website, we shall be providing you the direct link to the particular listing.
Yes, you can list directly on our website if you are a Seller too. The processes are quite similar to an agent in submitting your listing and publication. However, you would be required to attend any request for viewings from potential HouzKEY customers.
We can accept any property as long as it meets our property requirements if not listed with us currently. Should the customer be interested to proceed, we shall require information of:
They shall be involved in providing their signatory for Maybank HouzKEY’s Letter of Participation which shall entail several key items including:
And Agent Appointment Letter which details:
The payment shall be deducted from the Balance Purchase Price, hence the Seller shall not need to come with upfront payment.
Upon the signing and stamping of Sales and Purchase Agreement involving the Seller and Maybank, the commission to the agency / agent shall be disbursed by Maybank on behalf of the Seller.
The Seller shall receive their payment after the transfer process of the property is completed.
This shall be upon completion of transaction which depends on the property tenure whether is a freehold or leasehold titled property.
Yes. Our team is able to conduct a pre-assessment of the buyer to gauge the maximum amount which can be applied using Maybank HouzKEY.