What is R.T.O?

First we must understand the normal process of owning a house:

It is very costly. There are several different fees that you have to take into account before buying a house; such as legal fees for both Sales & Purchase Agreement (SPA), Loan Agreement, Valuation Fees, Insurance and other miscellaneous fees. You will also have to secure a 10% down payment for the house. You will also need to secure a loan from any participating panel banks which might or might not approve your loan which depends on your credit score.  

After which you have successfully acquired your loan, you will have to pay a monthly installment of up to 20 years. In this installment, interest/riba is included on top of your principal amount for which the first few years of your loan, you will be paying mostly interests. Your total payment for the loan will accumulate up to almost double your initial loan amount if you complete the full 20 years tenure. 


How does SonggoRitty help?

SonggoRitty’s Rent-To-Own Concept

We offer an alternative and a solution through SonggoRitty’s Rent-To-Own concept. With this method, you will not need to obtain a loan from a bank as you are dealing directly with SonggoRitty. 

We charge a monthly rental, for 20 years and within the rental, we do not charge or add on any Interest or Riba. 100% of the rental payments will be directly contributed towards the value of your house. 

Within these 20 years, SonggoRitty has created several programs which are part of our Corporate Social Responsibility Initiatives to help our tenants with their rental payments as well as other benefits. 

This concept was designed and developed to streamline the process of owning a house as well as to help people in need of a home. 

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