Shah Alam, Selangor, 28 August 2022 – The Selangor State Development Corporation or Perbadanan Kemajuan Negeri Selangor (PKNS), continues to support the state’s socio-economic growth by offering attractive financing solutions for home buyers. PKNS’ latest collaboration with AFFIN BANK’s Home Step Fast/i programme will allow buyers to pay lower instalments for the first five years of ownership, all in an effort to boost home ownership in the state.
The Memorandum of Collaboration (MoC) between PKNS and AFFIN BANK will cover all PKNS under construction and completed residential developments. Aimed at further accelerating home ownership in the state, the collaboration with AFFIN BANK’s Home Step Fast/i programme offers up to 90% with an additional 5% allocated for mortgage reducing term assurance (MRTA) or mortgage reducing term takaful (MRTT), legal and documentation fees, stamp duty and property valuation, and options to finance home solar system. The loans offered by AFFIN BANK are up to 30 years or until the customer reaches 70 years of age. This collaboration between PKNS and AFFIN BANK will also provide a shot in the arm for the Selangor state government’s ‘Rumah Selangorku’ programme.
“In addition to quality, design and accessibility, a major decision-making factor for homeowners in the state is affordability,” explained PKNS CEO, Datuk Mahmud Abbas. “As PKNS anticipates gradual recovery in business growth, this collaboration with AFFIN BANK’s Home Step Fast/i programme aims to strengthen PKNS’ portfolio as it reduces purchasers’ upfront expenses,” Datuk Mahmud said.
“We understand that it can be daunting, especially for first-time home buyers. Picking from a wide choice of developments available is difficult enough, add to that the vast number of options for financing solutions in the market that comes with it,” said AFFIN BANK Managing Director, Mortgage Business, Ms Jessie Wong Yen Yee.
“With the support from AFFIN BANK through this programme, PKNS aims to make our attainably priced products even more accessible to the public, especially for young home buyers looking to set up their first homes built by a reputable property developer with a strong track record of affordable housing,” said Datuk Mahmud Abbas, highlighting PKNS’ 58 years of experience in developing quality residential developments.
Making home ownership in a well-equipped living environment more achievable adds to homebuyers’ peace of mind, and ultimately contributes to the socio-economic development of the state. The collaboration between PKNS and AFFIN BANK serves to tackle affordability concerns faced by both potential and existing home buyers and is timely given PKNS’ latest project, Residensi Advena Seksyen 16 Shah Alam, priced in the RM400,000 range, which is due to be launched next month.
The MoC was signed by PKNS CEO, Datuk Mahmud Abbas, on behalf of PKNS and AFFIN BANK Managing Director, Mortgage Business, Ms Jessie Wong Yen Yee, and witnessed by AFFIN BANK Director, Strategic Alliance And End-Financing, Mortgage Business, Mr Kelvin Chin Kok Wai.
