Maybank aims to disburse RM10b loans this year

PETALING JAYA (April 30): Malayan Banking Bhd (Maybank) aims to provide RM10 billion in loans under its MaxiHome Ezy scheme this year, reported Bernama.

The new mortgage scheme, which is designed for first-time homebuyers, allows greater flexibility and affordability with its lower monthly repayments for the first five years, said Maybank Islamic Bhd CEO Datuk Mohamed Rafique Merican.

“The scheme, which is available under both conventional and Islamic banking, allows customers to service only the interest/profit portion of their mortgage for the first five years, with full instalments commencing from the sixth year onwards,” he said after the launch of the scheme by the Ministry of Urban Wellbeing, Housing and Local Government’s deputy secretary-general for policy Dr Mary Wong Lai Lin, who was there on behalf of the minister Tan Sri Noh Omar, at the Malaysian Property Expo (Mapex) here.

Meanwhile, Mohamed Rafique said housing demand remains strong, with annual mortgage growth at 7.6% last year and housing loans expected to continue to increase this year.

He also noted that besides the MaxiHome Ezy scheme, Maybank had also launched its HouzKey scheme last year — the first rent-to-own scheme in the country by a bank that offers an alternative home ownership solution without requiring a down payment while offering a locked-in purchase price for customers.

Mapex 2018 is a three-day fair organised by the Real Estate and Housing Developers Association (Rehda) that offers RM300 million worth of properties for sale by around 40 developers.

Also present at the launch were Rehda president Datuk Seri Fateh Iskandar Mohamed Mansor and Mapex 2018 organising chairman Datuk Ng Seing Liong.