13 May 2021

There’s no better time than to jump on the HOC bandwagon.

The Home Ownership Campaign (HOC) was first introduced by the Malaysian Government on January 1, 2019, and ran until December 31, 2019.

It essentially catered to new homebuyers looking to buy a beautiful home for their family.

After Covid-19 made its mark on the country’s economy, it was reintroduced under Penjana as an initiative to revitalise the property market. It is set to end on May 31, 2021.

The main attraction of HOC is that it provides stamp duty exemption on the instruments of transfer and loan agreement for the purchase of residential homes priced between RM300,000 to RM2.5 million.

The exemption on the instrument of transfer is limited to the first RM1 million of the property price, while full stamp duty exemption is given on loan agreement effective for Sales and Purchase Agreements (SPA) signed between June 1, 2020, to May 31, 2021.

Best of all, the HOC also offers a minimum 10% discount on houses bought under the scheme!

For those looking to purchase a second home or build their property portfolio, there is no better time than the present.

The property market is currently a buyer’s market, which means there is more supply than demand, thus raising your chances to snag a property below market price.

Even potential investors who want to capitalise on the current situation but do not have enough cash can jump on the wagon.

How? The answer is refinancing.

Refinancing is the restructuring of your loan in a way that gives you different terms or rates and usually gives you better cash flow, especially through cash-out refinancing.

Before deciding on whether to opt for refinancing or not, you must first weigh out various options - how much can you save by refinancing your home loan? Would it put you in a better position debt-wise? How will it serve you in the long run? Let’s find out!