SEAL-ing the deal on your dream property

Owning a home is now a hassle-free experience.

TAKE a quick look at the classifieds section and it can be disheartening to learn the amount you have to fork out for a new home.

As property prices continue to skyrocket, the idea of owning a home is slowly getting out of reach.

With no signs of slowing down, many are left at the mercy of financial institutions to secure a housing loan. Be that as it may, the approval rate for housing loans is dipping – with current approvals at 40% – according to Bank Negara.

However, do not let the statistic dash your hope of owning a new property as there are now other means that can help you in realising the dream.

One such assistance is the SEAL incentive by developer S P Setia, which provides first-time home buyers and home upgraders financial assistance when buying a Setia home.

The deal with SEAL

Understanding the current situation faced by many home buyers, the scheme essentially grants up to 30% of the property price and a deferred payment over five years.

What this means is that even if the bank approves only 60% for your housing loan, S P Setia will match the remaining 30% in order for you to secure the property with no interest charges.

Not only that, with the deferred payment option, you can choose to either pay back the loan in instalments within the five-year period or lump sum upon the expiry of the five years.

An incentive that benefits all

Rejection hurts. Rejection for a full loan application hurts even more – which is why this scheme is specially tailored for home buyers who can’t get a 90% loan approval on housing.

It is also intended for those who wish to tap into their EPF account to foot the bill on down payment. With the scheme in place, at least you get to keep some reserves for your retirement.

Good news for home upgraders too. SEAL is also beneficial for homeowners who are planning to sell their current house to purchase a new one.

Much to choose from

With over 20 properties and developments to choose from, take your pick of S P Setia’s completed commercial and residential projects around Malaysia.

Best of all, application for SEAL is easy – simply submit the form at any S P Setia sales gallery.

They will even cover the legal fees, disbursement and stamp duty on security documents for SEAL.

Furthermore, get an additional 2% rebate and 1% rebate on your home purchase if you managed to secure a 90% loan and 80% loan respectively.

From now until Dec 31, you could even stand a chance to win a 31.8% cash rebate through the lucky draw contest.

For more information, visit www.spsetia.com.my/setia318.

This article is brought to you by S P Setia.