Property portal EdgeProp Malaysia has launched a home loan pre-approval tool dubbed as the “LoanReport” that was developed in partnership with Finology, a Malaysian-based fintech company that specialises in enabling digital underwriting for loan and insurance products.

The tool can assist homebuyers in understanding their borrowing ability better and to get a pre-approved mortgage loan with banks.

LoanReport also provides the indicative market price of a property together with a credit report from CCRIS and CTOS.

This gives a realistic overview of the user’s eligibility in getting a loan.

There are no charges to use LoanReport and users are able to get their pre-approved loan from three different banks.

Alvin Ong, Managing Director of EdgeProp Malaysia said,

“At EdgeProp, our focus is to empower home buyers and owners with tools, technology, and support that make them more efficient and profitable.

 

The inclusion of our proprietary home pricing algorithm will provide users with a more accurate view of how much their homes are worth and potentially get a better refinancing deal,”

Robin Ang, Chief Executive Officer of Finology said,

“Finology has long been an enabler of embedded financial product offerings. We’ve made seamless access available on many digital platforms.

 

Our collaboration with EdgeProp adds one more to our track record of helping other businesses expand the scope of their offerings to include financial products, and represents another step forward in our mission to improve access to financial products for Malaysians.”