KUALA LUMPUR:  CIMB Bank Bhd and CIMB Islamic Bank Bhd's “One-Minute Home Financing” – which is part of CIMB’s InstaApproval platform – has received strong support from the country's top property developers.

The facility enables a faster, secure, paperless and hassle-free home ownership journey via an instant approval process.

Senior managing director and regional head, Vipin Agrawal, said the digital platform, deemed the first in the country, could facilitate complete home financing approval within a single minute upon the full submission of information and documents.

Dato' Khor Chap Jen, President & CEO of S P Setia Bhd:

“We laud this initiative by CIMB and are honoured to be selected as one of the key Malaysian developers to offer this innovative service to our purchasers. The on-the-spot approval of home financing will remove all uncertainties buyers may have and help them in their decision to purchase their dream homes.”

Datuk Ho Hon Sang, CEO of Mah Sing Group Bhd :

“Mah Sing is proud to be one of the pioneer partners for CIMB’s 1-Minute Home Financing InstaApproval. We feel that CIMB’s initiative is timely as Mah Sing will be rolling out 6 new planned residential launches in the first half of 2018 priced below RM500,000. 

“These launches include M Centura in Sentul, M Vertica in Cheras, Southville City’s new Sensa Residence and Cerrado Residential Suites Tower C and D in Greater KL, Meridin East’s 2-storey link homes in Johor Bahru and M Vista@Southbay in Penang. 

“One of the challenges our buyers face is getting their housing loan approvals fast and CIMB’s 1-Minute Home Financing InstaApproval will help address this issue and ease the minds of homebuyers.”

Datuk Chang Khim Wah , President & CEO of Eco World Development Group Bhd :

“We are excited to be a part of this initiative. With cooling measures in place, loan approvals have been one of the obstacles for our keen purchasers as they are not able to get a timely approval to secure their dream home. CIMB’s 1-Minute Home Financing InstaApproval is not only an added convenience for purchasers but for developers as well, as the approval can be done at the respective sales galleries.”

Datuk Seri Amrin Awaluddin, Group Managing Director of Sime Darby Property Bhd:

“This is an innovative approach that will help purchasers own their dream property. It’s also a shot in the arm for the property industry as it improves the property-buying experience significantly. The fast approval process reduces waiting time as compared to the standard financial methods.”

Edward Chong, Managing Director of IJM Land Bhd:

 “IJM Land is pleased to participate in CIMB’s 1-Minute Home Financing InstaApproval with an impressive suite of residential properties ranging from landed and high-rise developments in strategic areas located across all the growth corridors of Malaysia. 

“As homebuyers ourselves, we understand the pressure that customers go through when looking to purchase a new home. One of the biggest challenges for homebuyers, is waiting for loan approval where the process may take some time. 

“CIMB’s 1-Minute Home Financing InstaApproval scheme offers a quick, simple process which provides an instant mortgage approval and helps homebuyers move quickly to secure the house of their dreams. This is a very good initiative from CIMB Group with immediate mortgage processing and that’s a welcome change for home owners, buyers and the property sector as a whole.”

Anwar Syahrin Abdul Ajib, Managing Director/CEO, UEM Sunrise Bhd :

“We are pleased that CIMB’s digital innovation will enable real-time decision making for mortgage processing or instant mortgage approval that has been made simpler. No more hassle for our property purchasers as they will be able to obtain their full home loan status within a minute of application. This is definitely an enhancement to customers’ experience in providing speedy service in terms of financing.”

Lee Yoke Har, Executive Director of IOI Properties Group Bhd :

“It is indeed commendable that CIMB has taken the lead to provide this service which comes at an opportune time where the property industry is undergoing an evolution facilitated by the development of proptech to bring about speedier delivery of services within this ecosystem. We hope other banks will follow suit in time to come.”

Datuk Dickson Tan Yong Loong , Deputy Group CEO of Tropicana Corporation Bhd :

“We are delighted to be one of the first few developers to adopt CIMB’s 1-Minute Home Financing InstaApproval. With the ability to obtain mortgage approval within 1-minute the purchasing journey will certainly be more seamless and hassle-free. This is definitely a milestone and digital proposition that Tropicana is proud to be part of, as it benefits our prospective home buyers.”