The Bank of the Philippine Islands Family Savings Bank, together with the eight real estate developers in Bacolod City, will launch the Housing Madness today until Sunday at Robinsons Place, in Bacolod.
BPI president Jose Teodoro Limcaoco said this is BPI’s way of making housing loans more affordable, especially to those in the lower income bracket. He also assured that rates during the three-day housing madness are lower than those for previous fairs.
Limcaoco said BPI offers the best value for its clients through special rates and payment schemes that are valid only to applications received during the three-day event and booked on or before May 31.
He said the promo rates range from 5.75 percent fixed for one year to 8.75 percent fixed for five years. Additional perks include a free 32-inch LCD TV.
Jocelyn Sta. Ana senior vice-president, head of retail mortgage division of BPI said clients can have a loan decision from the bank within five days, upon submission of complete loan documents.
They will also waive the appraisal fee of P3,500 if property is purchased from an accredited developer and give a free BPI Gold MasterCard when the loan is availed of, Sta. Ana added.
The eight real estate developers are AFP MBAI for Bacolod Homes Royale, Amaia Scapes North Point, Avida Village North Point, Ayala North Point, Ayala Land Premier, BAPA Realty, Philippine Diversified Developers Corporation for Glenwood Park Subdivision, and FuRen Land and Housing Development Corporation, for Golden River Village.
Limcaoco, however, also said clients are not limited to apply at these eight developers. BPI still has 21 other accredited developers they can apply with, he added.
He also said they chose Bacolod City as their launching venue because of the city’s booming business process outsourcing companies, and strong sugar industry.
“If the local economy is good, real estate follows. BPI will make the housing a key component in our business in the city,” Limcaoco added.*LTG