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Home 2gether Financing

Buy your first home with meaningful financial assistance from your parents. For the first time ever, you can get an extra boost with Home 2gether Financing, a product designed for both parents & child*, to ease one of the most important milestones of your life. Property ownership just got easier for young working adults!

Who is Maybank Home 2gether for?


Maybank Home 2gether is here to make home ownership easier for graduates from an institute of higher learning who are young working adults and their parents.

Why should you choose Home 2gether?


With Maybank Home 2gether, child* and parents can partner together to access much-needed financing on their dream home, so the child* can benefit from some financial assistance from parents in the initial period of the financing.

This helps parents to provide a meaningful head start for their child* by providing financial support for the first 5 years, after which the child* can continue to solely service their financing independently.

How does Maybank Home 2gether work?


There will be 2 financing agreements to be signed each by the child* & parent(s) respectively. Both the child* and parent(s) will be Joint Borrowers for the first 5 years, after which the Parent(s) are legally released from the financing obligation once their financing portion is fully paid off & settled 5 years later.

Financing Tenure

Child’s* Loan/Financing Portion

Parent(s)' Loan/Financing Portion

First 5 Years

Monthly repayments

Monthly repayments

6th Years Onwards

Monthly repayments continue till end of tenure

Zero repayments (financing settled)

Financing Features


Eligibility

  • Child* applicant must be aged 18 years (minimum) and gainfully employed and a graduate from an institute of higher learning.
  • Parent(s) must have monthly recurring income
  • Residential properties only
  • Properties can be under construction or completed nationwide.
  • Property must be the child’s* first home purchase.

Main features

  • Home 2gether Financing operates as 2 separate accounts:
  • 1 financing account for the child’s* portion,
  • 1 financing account for the parent’s portion
  • The child* will be the sole property owner
  • The child’s* portion will be based on the child’s* repayment capability.
  • The parent’s portion tops up the child’s* portion for a higher total facility amount.
  • The parent(s) will enter into a joint borrowing with the child* for the first 5 years only, after which they will be discharged from the financing, whilst the child* carries on independently with the financial commitment for the remaining tenure of the financing facility.

Margin of financing

  • Up to 90% + 5%^ of property price/open market value (whichever is lower) for the combined financing amount

^5% for capitalization of MRTA/T, CLTA/T & other related expenses.

Financing tenure

  • Up to 35 years/ age 70 for the child*.
  • Up to 5 years /age 70 for the parent(s)

Effective interest/Profit Rate

  • As low as 4.05% p.a (SBR + 1.05% p.a)

NOTE: The Bank’s SBR may be varied from time to time with notice pursuant to changes in BNM’s Overnight Policy Rate (OPR).

Buying a property?


Just mention "Maybank Home 2gether Financing" to a sales rep to get started!

How to apply?


Take up Maybank Home 2gether Financing for your purchase of a completed or under construction residential property.

Are you eligible?

  • Malaysian citizens with minimum age of 21 and above
  • Child* applicant must be aged 21 - 31 years old
  • Child* applicant must be a graduate from an institute of higher learning and gainfully employed.
  • Parent(s) must have monthly recurring income.


What types of properties are eligible for
Maybank Home 2gether Financing?  

Under construction and completed residential properties nationwide.


Interested?

Follow the steps below to apply:

STEP 1: Visit a Maybank branch near you

MAKE A BRANCH APPOINTMENT

STEP 2: Bring along the following when you visit our branch:

  1. Property Financing Application Form

    DOWNLOAD THE FORM

  2. Identification Documents:
    1. NRIC/Identity Card
    2. Business Registration Form 24 & 49 (if applicable)
  3. Property Documents:
    1. Copy of Sales & Purchase Agreement, Booking Fee Receipt and Letter of Offer from Developer
    2. Property Valuation Report is required for completed property with Certificate of Completion and Compliance (CCC) (contact branch personnel on how to obtain).

Proof of Income:

Gainfully employed individuals (salary earners)

Mandatory Document

Validating Document

  • Latest 1 month pay-slip (1 month gap allowed e.g., application in August'21, latest acceptable pay-slip is July'21)
  • Latest EPF statement or 3 months bank statement where salary is credited.

 

Self-employed individuals

Mandatory Document

Validating Document

  • Latest 2 years Form B/Form BE form or e-filing

AND

  • Latest 6 consecutive months of firm/ company’s current account statements

OR

  • 6 months Commission Statement (for commission earner)

Any one (1) of the following:

  • EPF Statement
  • Latest financial accounts.

 

For commission earner,

Any one (1) of the following:

  • EPF Statement
  • Latest financial accounts
  • Bank Statements

More information


Click here to download the Home 2gether Application form

Click here to view the Terms & Conditions

Click to see Mortgage Product Disclosure Sheet (Eng | BM)


*whose age is 21 - 31 years old


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