Heaptalk, Jakarta – In the process of property ownership, determining a payment scheme is a crucial stage that should be scrutinized by every homebuyer. In Indonesia, typically, there are three types of property payment systems offered, including House or Apartment ownership financing (KPR/KPA), cash installment, and cash. Amid these three payment methods, people’s euphoria towards KPR/KPA is higher than others, yet, many people still have no idea about other loans that are offered by a bank.
Pinhome property and financing expert Vina Yenastri stated there are four kinds of financing offered by banks through allowing land certificates as collateral, including KPR/KPA, refinancing, KPR takes over, and KPR top-up. House ownership credit (KPR) is a payment method by way of installments to the bank, where previously, the bank has paid to the property developer or seller.
“The concept is simple, bank bails out the fund to buy properties we desire. The step is we buy a home by asking the bank to pay off the price of our dream house. Moreover, the amount that the bank is disbursed will be paid by us in the form of installment,” voiced Vina in “In-depth discussion about Properti” webinar held by Property Academy by Pinhome.
In addition to KPR, refinancing is also provided by the bank to fund various consumptive needs of people, made with a guarantee of land and building proof ownership where the owner’s name is reversed.
“(In this method) the property ownership certificate is stated that the debtor’s name is the owner of the land. Therefore, the property certificate that is delivered should affirm our ownership. The certificate, further, is able to be applied to the bank for refinancing submission. The step is similar to house ownership credit submission,” added Vina.
Moreover, there is also KPR take over, namely (the process is) by transferring the remaining loan to another bank which offered equal method of payment. In this scheme, the lender should notice fixed and floating rate duration. In the duration of the fixed interest rate, the interest rate is flat. Meanwhile, during the duration of the floating interest rate, the interest rate will tend to increase, thus oftentimes, debtors look for an alternative solution to make the installment does not increase significantly.
“For example, if users take KPR in “B” bank for five years or more and have passed fixed rate duration. When the floating rate duration is ready to be embarked, the debtor moves to another bank, which allows them to seize promotion or lower interest rate applied by the new bank. Logically, by moving to another bank, the public will obtain a lower interest rate (this action will bring more benefit) than staying in the previous bank that applied floating interest rate,” Vina assured in a statement.
Apart from KPR take over, the last payment method is KPR top-up, namely by adding the limitation towards the existing credit.
“If the consumers need to take over their house ownership, we need to conduct appraisal again.” Said Vina.
As the information, Property Academy by Pinhome held webinars routinely by adopting property, finance, and lifestyle as the theme and invited property experts and keynote speakers who are competent in a specific field.
