PKNS partners Affin Bank to boost Selangor’s home ownership

The partnership allows homebuyers to pay lower instalments for the 1st 5 years of ownership

by AUFA MARDHIAH / pic courtesy of PKNS

THE Selangor State Development Corp (PKNS) is collaborating with Affin Bank Bhd by offering attractive financing solutions for homebuyers as a mean to boost home ownership in Selangor.

The programme, Home Step Fast/i, allow buyers to pay lower instalments for the first five years of ownership.

The collaboration, which was inked today between both entities, would cover all PKNS under construction and completed residential developments.

Additionally, the collaboration offers up to 90% with an additional 5% allocated for mortgage reducing term assurance or mortgage reducing term takaful, apart from legal and documentation fees, stamp duty and property valuation, as well as options to finance home solar systems.

The financing solution offered by Affin would be up to 30 years or until the customer reaches 70 years old. At the same time, the collaboration would also be a boost for the state government’s “Rumah Selangorku” programme.

“Affordability is a major decision-making factor for homeowners, apart from quality, design and accessibility.

“As PKNS anticipates gradual recovery in business growth, the collaboration with Affin aims to strengthen PKNS’ portfolio as it reduces purchasers’ upfront expenses,” PKNS CEO Datuk Mahmud Abbas said in a statement.

He added that PKNS aims to make their attainably-priced products even more accessible to the public especially for young homebuyers looking to set up their first homes built by a reputable property developer with a strong track record of affordable housing.

The collaboration also aims to tackle the issue of affordability faced by both potential and existing home buyers, in line with PKNS’ latest project namely Residensi Advena in Seksyen 16 Shah Alam which will be priced at RM400,000 range (due to be launched next month).