From Left: Vortex Consolidated Bhd executive director Choo Peng Hung, chairman Tan Ooi Jin and executive director See Toh Kean Yaw.
KUALA LUMPUR: Vortex Consolidated Bhd has launched Bravo Financing, a first-of-its-kind home financing solution for all ongoing and upcoming property projects of the group.
Bravo Financing is a property term loan that offers up to 100% financing with a tenure of up to 15 years and an annual step-up interest of 4% onwards. The term loan is only applicable for properties under Vortex.
The financing of the loan to the buyers will be done via its licensed moneylending subsidiary.
Executive director See Toh Kean Yaw said it is offering two loan schemes with the option of up to 80% financing and up to 100% financing.
“For those who require 100% loan, we will be signing a lease-to-own agreement where they will be able to enjoy three years of interest-free lease rentals prior to conversion into a sale & purchase agreement (SPA) subjected to other terms and conditions. The interest rates will be charged upon the commencement of the SPA,” he said in a statement.
"It is a strategic move by the group to tap into our readily available resources and capabilities of our property development, property investment and financial services segments, while at the same benefiting the end-consumers.
"As such, the group’s recent proposed private placement of up to 127.58 million placement shares of about RM21.05mil based on an illustrative issue price of RM0.17 per share, is earmarked to fund the working capital required for our money lending business which could be utilised to provide the Bravo Financing schemes,” See Toh said.
