SEREMBAN: The 19th Malaysia Property Expo (Mapex), to be held for three days here, beginning next Friday October 6, promises a big difference for the youth and first-time home buyers.
Mapex organizer and local chapter, Real Estate and Housing Developers Association Negeri Sembilan (Rehda NS), will be collaborating with Bank Simpanan Nasional (BSN), Perbadanan Tabung Pendidikan Tinggi Nasional (PTPTN) and RAM Credit Info (RAMCI), for the first time ever, to facilitate home ownership through on-the-spot credit history and financial status checks, and housing loan arrangements.
Rehda NS chairwoman Jenny Wang Lee Peng said promoting home ownership is not enough if buyers are unable to get financing.
“Getting financing to buy a house involves many factors such as credit history and (effects of) outstanding PTPTN loan. Sometimes, banks require additional documentation, depending on the buyer’s (financial) status, or require the purchaser to add another name to support the application,” she told the media at a pre-expo press conference here today.
To assist buyers to address all these issues, Jenny said PTPTN and RAMCI have been invited to participate in the expo, and help buyers check their eligibility, discuss their options and make better decisions.
With RM10 payment, potential buyers can get on-the-spot printout of their CTOS or CCRIS report at the RAMCI counter.
BSN, meanwhile, will assist buyers to print their EPF statements, and together with PTPTN, the bank will then explain its financing packages and services.
On that note, BSN senior vice-president and head of distribution Akhsan Zaini said the bank has come up with a Youth Housing Scheme (YHS) to help young home buyers, regardless if they are single or married, with their first property purchase.
“There is a number of challenges faced by our youth today…chief among which is their ability to pay the initial 10 per cent deposit,” he said.
Accordingly, he added, BSN’s conventional and Islamic home financing offers up to 100% loan. Under YHS, which is open to the first 20,000 qualified applicants on a first-come-first-served basis, the Government is offering further aid on housing loan instalments with a monthly subsidy of RM200 for the first two years.
The property expo will see participation of 16 reputable developers, including those already well-known among NS residents like IJM Land, Matrix Concepts, Seri Pajam, Park Properties and Oakland Holdings, to name but a few.
To be held from 10am to 10pm at Seremban Prima, there will be 4,316 units of property worth some RM2.25 billion up for grabs.
These properties are located in Seremban, Seremban2, Sendayan, Senawang, Sikamat, Rahang, Rasah, Mantau, Lukut, Port Dickson and extents up north to the Selangor town of Bangi.
With property prices ranging from RM80,000 up to RM3.3 million, first-time home buyers will also be offered attractive rebates, discounts and incentives, including stamp duty remission up to RM5,000.