By Mia A. Aznar
Wednesday, October 12, 2011
WITH real estate booming in Cebu for the last two years, a bank has brought a national event to the province in hopes of catering to Cebuanos planning to purchase homes before the year ends.
BPI Family Savings Bank announced a three-day Housing Madness event beginning this Friday, which officials believe will be successful, given the active Cebuano real estate market.
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BPI Family Savings president Jose Teodoro Limcaoco told reporters that regular housing loans in Cebu grew 25 percent in 2010.
The Housing Madness sale being their flagship program for housing, Limcaoco said it was only right for them to bring it to Cebu for the first time.
Banking officials assured buyers will get special deals, both from developers and from the bank, if they avail of the regular housing loan within the three days.
Herbert Tuason, vice president and head of product marketing, announced that those who purchase during the sale will benefit from waived appraisal and registration fees, P10,000 off from their first monthly amortization, a free gold Mastercard and the option to avail of their latest offer, the BPI PayHinga, a one-month pay break offer on the amortization.
Waived fee
Tuason said clients save a lot with the waived registration fee, which is about P14,000 for every P1 million. Appraisal fees also reach P3,500.
Limcaoco explained that the PayHinga is something they are offering to clients after the noticed that there is at least one month in a year that clients have difficulty in making their payments on time, and that is during enrolment.
The PayHinga allows clients to choose one month of the year where they won't have to pay their monthly amortization.
Though they already started advertising the product, Limcaoco said this was their first formal announcement of the product. He added that this is a first in the country.
Senior vice president and head of the retail mortgage division Jocelyn Sta. Ana assured that they carefully picked the developers who would be participating in the sale, saying they wanted to be sure their clients would have the best options laid out for them.
The sale, she said, would work like a mall where buyers can choose which project is best for them all in one area.
"We are committed to helping every Filipino family get their dream homes. Through the Housing Madness, we hope to do just that by bringing together the best developers, special rates and more dynamic financing schemes favorable to our clients, all under one roof," she said.
She said that aside from the deals the bank is offering, developers will also be offering their own deals just for the event.
Developers
The 17 developers who will be joining the sale are Aboitizland, AE International, Ayala Land Premier, Alveo Land, Avida Land, Arcenas Properties, Crown Communities, Cebu Landmasters, CLS Properties, Colourfield Land, Innoland Development, Lopzcom Development, MLD Dream Builders, Nexland Estate, Primary Homes, Robinsonsland and Taft Property.
Tuason added that if a client cannot pass by the Ayala Center Cebu during ther Housing Madness dates, they can still avail of the perks offered during the sale if they apply for a regular housing loan at the BPI Family Savings website.
Published in the Sun.Star Cebu newspaper on October 13, 2011.
