PROPERTY NEWS: PKNS and Affin Bank work together to increase home ownership in Selangor

Key takeaway: To promote home ownership in Selangor, Selangor State Development Corp (PKNS) and Affin Bank have signed a Memorandum of Collaboration (MoC).

As part of the collaboration, buyers will have access to Affin Bank's Home Step Fast/i programme, which offers lower monthly payments for the first five years of ownership.

Up to 90% is made available through the Home Step Fast/i program's partnership with Affin Bank, with an additional 5% set aside for mortgage term assurance or takaful, legal and administrative costs, stamp duty, property valuation, and options to finance a home solar system.

The bank offers loans that can last for 30 years or until the borrower turns 70. According to PKNS, this partnership with Affin Bank will give the Rumah Selangorku programme of the Selangor state government "a shot in the arm."

Mahmud, on behalf of PKNS, and Wong signed the MoC, and Kelvin Chin Kok Wai, director of strategic alliance and end-financing for the mortgage business at Affin Bank, witnessed the signing.

© August 2022, EdgeProp.my