• General

  • What is HouzKEY?

    HouzKEY is an alternative method of home financing by way of a lease arrangement based on Islamic concept of Ijarah (Lease) that provides the customer the option to purchase the property.

  • Why should I consider HouzKEY instead of renting?

    HouzKEY is specially designed to assist those who have difficulties in attaining home ownership due to the high initial cost. The key benefits of this product as compared to normal renting arrangement are:

    1. i) Transparency – certainty of your rentals throughout the tenure;
    2. ii) Wealth creation – opportunity for earning capital appreciation on your property via Cash Out option; and
    3. iii) Option to Purchase the property at pre-determined price.

  • What is the eligibility criteria to apply for HouzKEY?

    The eligibility criterion are as follows:-

    1. i) You must be a Malaysian citizen or Permanent Resident of Malaysia.
    2. ii) You must be between 18 years or below 65 years at the time of application.
    3. iii) Your household income must be RM5,000 and above.
    4. iv) You MUST NOT have more than one (1) home financing/housing loan at the time of application.
    5. v) You are not under blacklist/bankruptcy status.

  • How do I apply for HouzKEY?

    You can start by finding your dream home through the Search bar at the top of www.maybank2own.com. Once you have found your desired home, 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?

    No, you can only choose the properties that are listed in our portal.

  • What if my gross income is less than RM5,000?

    You are allowed to bring up to 3 guarantors to support your application with total household income of not less than RM5,000.

  • 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 with options to renew every 3 years up to a maximum contract period of 30 years. The contract also comes with an option to purchase the property after servicing 12 months rental.

  • What is the difference between Mortgage and HouzKEY?

    Under HouzKEY, customer would rent first with the bank and purchase as and when they are ready. Key features of HouzKEY:

    1. i) Low initial investment for your dream home – only 3 months security deposit is required.
    2. ii) Customer can rent throughout the full tenure offered and they can choose to migrate to a mortgage facility when they are ready. Option to purchase the property doesn’t lapse until end of tenure.
    3. iii) Customer can apply online and approval is within 24 hours (based on 1 working day, subject to completion of full document submission).

    4. As for mortgage you are required to purchase the property now. Bank will only finance based on margin of financing approved and typically customer will need to set aside approximately 10-15% of total property value for deposit and transactional costs (legal fees, stamp duty, etc.), or even up to 30-35% for 3rd housing loan/financing.

  • Key Features

    Key features of HouzKEY:

    1. i) Low initial investment for your dream home – only 3 months security deposit is required.
    2. ii) Customer can rent throughout the full tenure offered and they can choose to migrate to a mortgage facility when they are ready. Option to purchase the property doesn’t lapse until end of tenure.
    3. iii) Customer can apply online and approval is within 24 hours (based on 1 working day, subject to completion of full document submission).

  • How is the rental the derived?

    Monthly rental is derived from Lease value and incidental costs (if any) that has been agreed upfront. Lease value is the value of property at the start of the Lease Agreement (Year 1). The monthly rental paid will help to reduce the initial Lease value and the Option Purchase Price from Year 2.

  • 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 (IC); and
    2. ii) Latest 3 month salary slips; and
    3. iii) Latest EPF statement; and
    4. iv) BE Form (for salaried) or B Form (for self-employed); or
    5. v) Any other supporting documents. i.e. 2 years EA form for non-contractual bonus, or employment confirmation letter on fixed bonus, or 6-months bank statement or commission/variable allowance/overtime/service points vouchers, or 3-months pension statement, or copy of ASB book or Tabung Haji reflecting customer’s name and latest balance, or copy of Fixed Deposit certificate, or valid Tenancy agreement not less than 6 months from expiry date, together with previous SPA or title to depicts the ownership, or latest SSM search (for Self-Employed).

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

    1. 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.

    2. 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 IC), IC 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 days from the date of our email:-

    1. i) Identity Card (IC); and
    2. ii) Latest 3 month salary slips; and
    3. iii) Latest EPF statement; and
    4. iv) BE Form (for salaried) or B Form (for self-employed); or
    5. v) Any other supporting documents. i.e. 2 years EA form for non-contractual bonus, or employment confirmation letter on fixed bonus, or 6-months bank statement or commission/variable allowance/overtime/service points vouchers, or 3-months pension statement, or copy of ASB book or Tabung Haji reflecting customer’s name and latest balance, or copy of Fixed Deposit certificate, or valid Tenancy agreement not less than 6 months from expiry date , together with previous SPA or title to depicts the ownership, or latest SSM search (for Self-Employed).

  • Can I amend my application details after submission?

    No amendment is allowed after submission.

  • 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 as soon as possible within 3 days from the date of the email or system will auto close your application after 3 days.

  • Will my application be reflected in my CCRIS report?

    Yes, it will be reflected in your CCRIS report.

  • ENQUIRIES

  • For further enquiries, you can:

    1. 1) Chat with us via “Webchat” in www.maybank2own.com;
    2. from Monday to Friday (from 9.00am –8.00pm).

    Or

    1. 1) Leave us a message via “Contact Us” in www.maybank2own.com; or
    2. 2) Email your enquiries to m2own@maybank.com

    3. We shall respond within 1 working day.

    If you would like to know more about HouzKEY, please refer to our Product Disclosure Sheet here.

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