The current property buying process in Malaysia is broken. Let’s say you want to purchase a property, you usually begin the process by looking at areas that you like or developers that you trust.
After what is likely several months of finding that one home that is perfect for you, you go through the process of applying for a mortgage loan. Chances are many first-home buyers will either have their loans rejected or offered loan rates that are not favourable to them.
This is problematic because, you’ll have restart the entire process again. Beyond just being a huge disappointment for the prospective buyer this also poses a huge challenge for the industry especially for new projects.
Finology a locally based fintech company intends to solve this issue by reversing the process and they are starting by partnering IQI Group, a real estate agency with over 1,000 agents