From 2016 to early 2017, only 24% of new property launches were in the range of approximately RM250k, which indicates an undersupply of affordable homes, according to a study released by Bank Negara Malaysia.

Despite high demand, too many affordable homes remain empty and existing red tape, as well as bureaucratic backlogs, have further diminished what is already a limited number of affordable homes available to Malaysians.

The balloting process, which randomly selects an applicant who is given the opportunity to buy a house, is partly responsible for this but to keep affordable homes affordable, balloting is necessary and prevents a property's price from hiking up due to bidding wars.

Loanplus' solution is to pre-qualify applicants and provide government agencies with streamlined data, as well as with recommendations of groups that have the best chance of getting loan approvals and it is these groups who are added into the ballot pool.

The 8 Step process helps through focusing on key areas of service delivery; Step 1: Registration and Step 2: Verification, Step 3: Loan Check features loan eligibility checking and Step 4: Segmentation - sharing information on groups of buyers, targeting those most eligible.

Moving on Step 5: Balloting enables targeting of qualified buyers, Step 6: Matches the Best Loans to buyers, Step 7: Cuts Loan application time dramatically, and Step 8: Get much higher rates of loans approved, as well as helping those few who are turned down for a loan.