MALAYAN Banking Bhd (Maybank) is hoping to give its home financing division a boost with its latest Overseas Mortgage Loan Scheme that could see it grow by 13 per cent by the end of its financial year-Being offered to those looking to purchase properties in London, Britain, because of the current favourable exchange rate, it said the scheme will be the first ringgit-dominated mortgage facility available to local property investors-Targeted at high nett worth customers, the key features of the package include repayment in ringgit, high margin of financing of up to 85 per cent, flexible repayment options and a long tenure of up to 30 years or until the borrower reaches 70, whichever is earlier-Maybank deputy president and head of community financial services Lim Hong Tat said it is anticipating a take-up of RM60 million for the mortgage facility over the next six months-"This is in view of the attractive property valuation in London and peak in overseas buying interest before the new five per cent sales tax is imposed on properties above STG1 million (RM4-84 million)," he said-"This milestone mortgage scheme brings tremendous savings to customers as the unique proposition of this loan allows Malaysians to borrow in ringgit --- this will protect customers against currency fluctuations on their monthly repayments as well as allow them to save as the British pound is expected to rise against the ringgit this year-"The scheme is applicable to residential and commercial properties that are completed or are under construction in London Zone 1 to Zone 3, including prime locations such as City of London, Westminster, Knightbridge, Kensington and Chelsea-...

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