Setia Flex is a home ownership programme offered by S P Setia Berhad. This company is one of the largest property developers in Malaysia. There is a similar programme from EcoWorld too.
There are four different schemes under Setia Flex. They are Flex Promos, Flex Rewards, FlexKey and SEAL.
Flex Promos
Flex Promos are home ownership campaign incentives. The buyer may receive rebates of up to 10% of the property price when choosing this scheme. Stamp duty may be exempted too.
Flex Rewards
As the name suggests, this is a rewards programme for existing owner of Setia properties (Citizen Setia). Citizen Setia can enjoy up to 3% loyal customer rebates when purchasing another house from Setia. Or, if a Citizen Setia refers a friend to purchase Setia property, the referrer may receive up to 3% referral cash rewards.
FlexKey
This is a rent-to-own scheme in collaboration with Maybank. It is an enhanced HouzKEY financing scheme where the buyers can select newly launched properties, instead of being limited to available completed units. Its features are similar to EcoWorld’s STAY2OWN scheme.
Simplified and Enhanced Deferred Payment Scheme (SEAL)
SEAL is principally for buyers who cannot obtain a high-margin loan. Basically, Setia is going to give the buyer a loan of up to 30% of the property price at 0% interest. The interest-free loan tenure can be up to five years. However, the buyer needs to settle the 10% down payment first. If the buyer is able to repay in less than five years, there are further rebates. The discount amounts to 3% off the sum if the loan is settled before four years or 5% if the buyer pays back the loan before three years.
The caveat is that the property is not saleable or transferable during the payment tenure.
SEAL will end on 31 December 2019.
This is also similar to EcoWorld’s HELP2OWN scheme. HELP2OWN requires a lower down payment (5% of property price) but only provides loan of up to 25% of property price.
Conclusion
If you are interested in Setia properties, you may go to its website (Link) to check its available projects. You can also register your interest on its web page and waits for the company to contact you to get more details. Otherwise, you can walk into its sales offices to request for more information regarding these schemes.