PropertyGuru launches the Mortgage Pre-Qualifier, a PropTech innovation that provides property seekers with a qualified mortgage check at the highest predictive ability of how much mortgage a bank is willing to approve. It is a Southeast Asia-first innovation developed in partnership with real estate fintech platform, MHub, and powered by CTOS, Malaysia’s leading credit reporting agency.
Sheldon Fernandez, Country Manager of PropertyGuru Malaysia says, “The PropertyGuru Mortgage Pre-Qualifier is highly predictive, very accurate, takes only five minutes and is completely free. It uses real-time and certified credit data to generate a unique Debt Service Ratio (DSR) and Eligible Mortgage Amount. That means property seekers can immediately identify if they are qualified, or not, for a mortgage by the bank, and can immediately take the necessary steps to improve their chances of owning a home.”
The PropertyGuru Mortgage Pre-Qualifier is part of a long-term commitment to home ownership through the Own Your Home Programme. Designed with the intention of helping people own a home and not just find it, PropertyGuru aims to enable 100,000 Malaysian prospective homebuyers to overcome home affordability issues by 2020. Research shows that 92% of Malaysians wish to own homes but most are unable to reach that goal.
The Own Your Home Programme is a long-term commitment of a sustained home enablement and financial literacy programme with the objectives of helping more Malaysians better understand their unique and real home ownership challenges. It also empowers Malaysians to avoid mortgage rejection and make more confident property decisions by leveraging on innovative solutions from PropertyGuru.