Purchasing an ideal home is an exciting venture and commonly the biggest commitment in a household. However, homebuyers often have to compromise on thelocation, lifestyle, property type or even the design of their desired home. Now, with the newly launched Hong Leong Flexi Mortgage, homebuyers are able toenjoy smaller instalment , payment flexibility and bigger loan amount to enable them to own their ideal home with ease without compromising theirlifestyle.
"Our deep understanding of customers' needs and lifestyle compels us to develop a product that enables customers to take up a bigger loan amount whileenjoying smaller monthly instalments . This is achievable with the bullet payment feature at the end of loan tenure," said Ms Yvonne Chia, HLB's GroupManaging Director.
The bullet payment feature in Hong Leong Flexi Mortgage fast track homebuyers' affordability in purchasing a home of their choice by deferring up to 35% ofthe loan amount to the end of the loan tenure while keeping the monthly instalment light, thus enabling them to own a better home today and not later.
So, how does this new product differ from the conventional housing loan? To illustrate, a customer takes up a RM280,000 conventional housing loan, has topay a monthly instalment of RM1,661. With Hong Leong Flexi Mortgage, the same customer now can enjoy a RM300,000 loan but only needs to pay RM1,512 for themonthly instalment. In this case, the customer gets to enjoy a 7% bigger loan amount and 10% smaller monthly instalment!
"With changing lifestyles and increasingly discerning taste, the new generation of homebuyers would certainly appreciate a bigger loan amount to cater totheir needs. We are confident that the Hong Leong Flexi Mortgage will be a success, driving our market share to the next level.
With HLB's extensive network of branches, mobile sales team, growing brand presence, and innovative home loans, we are optimistic of the continued growthof the mortgage business for the bank," Ms Chia added.
The Hong Leong Flexi Mortgage will appeal to first time homebuyers and those who are looking to upgrade their current home. It is applicable forresidential property with minimum property value of RM200,000. Other product terms and conditions apply.
For more information visit any of HLB's 185 Branches nationwide, call 1-800-38-8888 during office hours or log on to www.hlb.com.my .
Press Release - 17/12/2009