Maybank HouzKEY Review Update 2022

Recently I have received a detailed comment regarding the HouzKEY programme from a reader. I would like to highlight her experience in this Maybank HouzKEY review update 2022.

To know more about HouzKEY, you can refer here.


Alice has signed up for HouzKEY in 2020 for an apartment in Kota Kemuning. She received the Vacant Possession Notice in September 2021. Nonetheless, she is not happy with the property.

She has provided a link to the product disclosure sheet for the programme but I found a more recent one (Link).


According to her contract, the first year rental is supposed to be RM 1187.20 per month. Nonetheless, as the base rate is lower now, she only needs to pay RM 890.40 monthly. In the product disclosure sheet, it states that the monthly payment during the initial tenure is a profit payment only, which means she is paying the interest only during this period.

She states in the comment that the rental might be increased every year until the fifth year. In the agreement, it is nearly RM 2000.00 per month in the fifth year. However, I could not find this clause in the product disclosure sheet as it seems like the monthly payment would remain the same for the five years.

Nonetheless, the agreement that she signed would be the actual terms and conditions of this programme.

Extra information

Alice has disclosed something that I do not know before. The programme offers an incentive structure if the tenant decides to buy the property during the initial tenure.

For example, Alice’s unit is valued at RM 470,800.00. She will get an incentive of RM 30,600 to reduce the property price if she decides to purchase the property in the second year. The incentive would decrease as the year goes by and it would be RM 18,832.00 in the fifth year.

I did not know about the existence of this incentive and wonder if HouzKEY offers this incentive to every tenant.

Alice’s gripe

The apartment complex is not well maintained. Besides that, the service fee and the rental is too high for her. Thus, she is planning to walk away after five years. However, she is seeking the advice of the HouzKEY team to see if there is a better option for her.

Overall, she regrets signing up for HouzKEY to buy this property. Furthermore, she advises against buying a unit in a high-rise building under construction.

Total cost

The total cost of acquiring a property HouzKEY will be higher than a conventional mortgage (assuming you take up a 30-year loan to buy the house at the end of the initial tenure of HouzKEY and the conventional mortgage has a tenure of 35 years), but the cash outlay during the initial tenure would be minimal. I have found an article on iMoney that has a different take on this issue (Link). You can also find the comparison between conventional loan and HouzKEY financing in the article.


It seems like the real terms and conditions of HouzKEY really depend on the agreement. HouzKEY does represent a way to own a property, especially if you do not have a lump sum for down payment. However, there might also be some upfront cost that you will have to pay if the developer or bank does not absorb it. If you decide to sign up for HouzKEY, do read the agreement carefully. Do not rely solely on the verbal explanation of the staffs as they might be incorrect as experienced by Alice.


  1. Izrin

    Ive signed Houzkey back in 2020. Havent start to pay anything because the project have beed delayed for 2years. & looking at the progress, seems like going to be delay even further. Supposed 2023, looks like 2026 or 2027 if developer didnt take any action. Definitely didnt get any Vacant Possession Notice. Hence with the bad Project status, is there anything that we can do? I even will to pay penalty if I have to. I really need advise, but dont know how. Time is running, we are getting older.

  2. Post

    Hi, Izrin.

    I am sorry that I do not have an answer for this. Is there any clause in your contract that allows you to walk away if the development is not completed after a few years?

    It is better if you ask Maybank about this matter.

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  3. ryan kow

    I use houzkey for sub-sale, before sign agreement every thing look good and convenience.

    Becareful with the after sale service.

    before sign agreement, the staff can verbally told you numerous of benefits, BUT when you opt to purchase that time, all the benefit as verbally inform will be up-lifted. (e.g.: before sign told you have will greenlane to proceed with mortgage loan with maybank with the interest rate are GUARANTEE slightly LOWER the market rate; but when time come to opt to purchase, the rate offer is much more higher the market rate and houzkey will informed you that maybank have up-lifted the offer). *MY opt to purchase are execute on 2nd year.

    and there are many “hidden” clause that the maybank houzkey will not highlight to you. e.g. when you opt to purchase, you have use maybank houzkey selector solicitor, which the price is higher there other.

    then come to last part, maybank houzkey will keep on dragging to refund your security deposit with out given a committed date OR even a rigid reason/explanation.

    Conclusion, if you want to go with houzkey, better think twice.

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