PETALING JAYA: OSK Property Holdings Bhd (OSK Property) has entered into a strategic collaboration with RHB Bank Bhd (RHB) to extend the RHB Home and Renovation Loan to eligible purchasers of selected under-construction landed properties developed by OSK Property.
The solution will now enable purchasers of selected under-construction landed homes priced at RM300,000 and above at OSK Yarra Park and OSK Taman Lang Aman in Sungai Petani, Kedah, as well as OSK Iringan Bayu in Seremban, Negeri Sembilan, to apply for and package their housing and renovation loans together at the point of property purchase.
The solution provides an additional loan margin of up to 30% of the lower of the property’s selling price or latest market value. This margin comprises the renovation loan and, where applicable, Mortgage Reducing Term Assurance (MRTA), Credit Life Term Assurance (CLTA) and Finance Entry Cost (FEC), on top of a housing loan margin of up to 90%. The tenure is up to 35 years or until the customer reaches age 70, whichever is earlier.
“Through this collaboration with RHB, we are pleased to offer eligible purchasers a more seamless financing option that supports both home purchase and renovation needs in one journey. We are also encouraged that RHB has chosen OSK Property as its first property-developer partner for this solution which we see as a strong reflection of its confidence in the quality, value and standards of the homes we deliver,” said OSK Property chief executive officer Chu Wai Lune.
RHB group community banking managing director Jeffrey Ng Eow Oo said: “Through this collaboration with OSK Property, we are extending the solution to under-construction landed homes. Eligible purchasers can have both their housing and renovation loan requirements assessed and packaged upfront when purchasing the property, providing greater clarity and convenience in planning the overall cost of homeownership.”
Also present were OSK Property project management senior general manager Jess Leow Jia Hui and RHB Bank consumer finance head Sien Vee Loc.
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