• General

  • What is HouzKEY?

    HouzKEY is a rent-to-own solution which allows customers to rent & own the property of their choosing.

  • Why should I consider HouzKEY instead of renting?

    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:

    1. I. Zero down payment – You only need to pay 3 months (refundable) rental deposit
    2. II. Monthly rental pays off your obligation – Your monthly rental will reduce your obligation overtime
    3. III. Apply with guarantors – You may apply up to 3 guarantors to improve your eligibility
    4. IV. 100% profit is yours – Sell the property & keep 100% profit (net gain from the sale proceeds)
    5. V. Your choice of home – Up to RM 1 million, anywhere within Klang Valley

  • What is the key difference between HouzKEY and Mortgage?

    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.

  • What is the eligibility criteria to apply for HouzKEY?

    1. I. Must be a Malaysian citizen.
    2. II. May include guarantor(s) if need be. It can be up to 3 individuals and must be from the applicant’s immediate family members (i.e. spouse, parents, siblings, and children).
    3. III. The applicant’s and guarantor(s)’ age must be between 18 to 65 years old at the point of application.
    4. IV. The minimum combined household gross income (applicant and guarantors) MUST BE RM5,000 and above.
    5. V. The applicant MUST NOT have more than one (1) home financing at the point of application.

  • What is the requirement to be a guarantor?

    1. I. They should be your immediate family members such as your parents, siblings, spouse or children;
    2. II. They should be between 18 years or below 65 years at the time of your application; and
    3. III. They should not be under blacklist/bankruptcy status.

  • What is the contract period?

    There is a minimum contract period of 5 years up to 30 years.

  • How do I apply for HouzKEY?

    You have 2 options to start your application. You can browse through www.maybank2own.com or find your preferred property in other portals:

    1. A. Should you have a property to purchase, you may visit www.maybank2own.com and click [Am I Eligible?] button. Fill in the information required. You will be contacted by the Bank to guide you on the next steps to complete the assessment. Once your assessment is completed, you will be given a link to complete the application process.

    OR

    1. B. You can start by finding your dream home through the “Looking For A Home?” button on the main page or go to Search bar at the top of www.maybank2own.com. If you have found your desired home on maybank2own, you may initiate the application process by clicking on the “Apply Now” button at individual property page and choose a specific unit for your application.

  • Is HouzKEY applicable for properties that are not listed in the portal?

    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.

  • When will the product be offered to other states outside Klang Valley?

    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.

  • Rental Structure

  • Will 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 from your total obligation.

  • 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.

  • What is the interest rate/profit rate calculation of HouzKEY instalment to be compared to mortgage?

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

  • Application

  • What documents do I need to apply for HouzKEY?

    You are required to upload the following documents in your application:

    1. I. Identity Card (NRIC); and
    2. II. Employed (salary earner):
      1. • Latest 3 months consecutive salary slip
      2. • Latest EPF statement
      3. • Latest 3 months bank statements (if non Maybank crediting salary)
      1. *Note: If working overseas, to provide Employment pass/working permit and Employment Letter and overseas EPF / Credit Report (EPF/CCRIS equivalent), if any.

    OR

    1. III. Self-employed (sole-prop & partnership):
      1. • Latest 6 months bank statements
      2. • Latest consecutive 2 years B/BE Form (with tax receipt)
      3. • Latest 2 years financial Financial Account Statement/Management Account
      4. • Latest SSM search

    AND

    1. IV. Any other supporting documents:
      1. • Latest BE form with tax receipt
      2. • 2 years EA form for non-contractual bonus
      3. • Employment confirmation letter on fixed bonus
      4. • 6-months bank statement or commission/variable allowance/overtime/service points vouchers
      5. • 3-months pension statement
      6. • Copy of ASB book or Tabung Haji reflecting customer’s name and latest balance
      7. • Copy of Fixed Deposit certificate
      8. • Valid tenancy agreement not less than 6 months from expiry date, together with previous SPA or title to depict the ownership.

  • Can two (2) or more customers apply for the same property from Maybank2own listing?

    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.

  • Can I have multiple applications concurrently?

    No. If you would like to apply for a different property, you would have to cancel your existing application in “My Application” tab.

  • How do I add guarantor(s) in my application?

    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:

    1. I. Identity Card (NRIC); and
    2. II. Employed (salary earner):
      1. • Latest 3 months consecutive salary slip
      2. • Latest EPF statement
      3. • Latest 3 months bank statements (if non Maybank crediting salary)
      1. *Note: If working overseas, to provide Employment pass/working permit and Employment Letter and overseas EPF / Credit Report (EPF/CCRIS equivalent), if any.

    OR

    1. III. Self-employed (sole-prop & partnership):
      1. • Latest 6 months bank statements
      2. • Latest consecutive 2 years B/BE Form (with tax receipt)
      3. • Latest 2 years financial Financial Account Statement/Management Account
      4. • Latest SSM search

    AND

    1. IV. Any other supporting documents:
      1. • Latest BE form with tax receipt
      2. • 2 years EA form for non-contractual bonus
      3. • Employment confirmation letter on fixed bonus
      4. • 6-months bank statement or commission/variable allowance/overtime/service points vouchers
      5. • 3-months pension statement
      6. • Copy of ASB book or Tabung Haji reflecting customer’s name and latest balance
      7. • Copy of Fixed Deposit certificate
      8. • Valid tenancy agreement not less than 6 months from expiry date, together with previous SPA or title to depict the ownership.

  • Can I amend my application details after submission?

    No amendment is allowed after submission, unless informed by the bank to provide additional documents through a secured link.

  • How do I know the status of my application?

    You will be notified via email & SMS on your application status. You can also check your application status in “My Application” tab.

  • What should I do if I receive an email & SMS that my application submission is incomplete?

    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.

  • Will my application be reflected in my CCRIS report?

    Yes, it will be reflected in your CCRIS report.

  • I am not familiar on the online application. Is there any officer that can assist me?

    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 m2own@maybank.com with your contact details and request for assistance. Our officer shall contact you to assist.

  • After Approval

  • What is the next step after my application is successful?

    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.

  • Do I need to make any upfront payment?
    Yes, you will need to pay 3 months rental as security deposit upon signing of Lease Agreement.
  • How do I pay the security deposit?

    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.

  • 10 Important Things To Know

  • When do I start paying rent?

    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.

  • 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 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.

  • 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.

  • What options do I have & how do I exercise the options?

    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.

  • When can I own the property?

    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.

  • Can I own the property before the end of minimum 5th year rental period?

    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.

  • Can I transfer the ownership in the middle of the rental tenure or do I have to wait until the end of the year?

    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.

  • Would I be eligible for a mortgage facility?

    Yes, Maybank will immediately offer you a mortgage facility for transfer of ownership.

  • Other Consideration

  • What happens in the event of death of the Customer?

    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.

  • 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.

  • How do I appoint the 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.

  • I need to consider taking Takaful?

    There are two (2) types of Takaful/Insurance coverage that are relevant for your property under HouzKEY:

    1. A) Fire Takaful
      It is compulsory for you to take Fire Takaful to cover the property. The annual premium will be paid by us and will be charge to you as part of your monthly billing.

    2. B) Life Takaful
      You are advised to take Life Takaful on the property purchase price to assist your appointed nominee to attain home ownership in the event of your passing, however it is not compulsory.

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