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Category: Real Estate

Surefire Ways To Get Your Home Loan Application Approved

Applying for a mortgage is your key to achieving the home you have always dreamed of.

Unless you are ultra-rich, purchasing a home would require financing from banks and other lending institutions. Owning a home is easier said than done; a big chunk of the process is applying for a loan.

Nowadays, lenders are taking advantage of the Philippines being one of the fastest-growing economies in Asia to offer competitive mortgage products for potential home buyers. Furthermore, the property market is projected to remain thriving due to the demand from investors resulting from the Philippine government’s Build, Build, Build program.

The ball is now on the side of home buyers; they have to prove that they are financially capable of taking on a huge responsibility, which requires prudence and commitment. These are the things you have to do to make sure your home loan application gets the green light.

Have a steady and stable source of income

One of the biggest red flags for banks and lending institutions is an unstable source of income. After all, your income stability will affect how consistent you will be able to settle your monthly mortgage repayments. For a higher chance of getting your home loan approved, you have to have steady employment for at least two years. This assures the banks of your financial readiness.

If you consider yourself as self-employed or freelancing, you have to be able to prove how much you earn on a monthly basis. While banks consider freelance employment risky, you can still get a decent home loan offer. Just show the banks that your income flow is steady and you have an ample amount of savings.

Save up for a large deposit

It is advisable to save up for a large down payment first to secure a home loan. This reduces the loan-to-value ratio, which is a big consideration for banks. As a rule of thumb, you should only borrow up to 80% of the total value of the home you are planning to buy. Your savings will cover the rest. The lower the amount you intend to borrow, the higher the chances that your loan will get the go-ahead.

A considerable amount of savings also shows that you can handle your finances, which is a big plus for lenders.

Educate yourself

Purchasing a property entails a lot of responsibility and commitment from you as a homeowner and as a borrower. Learning about the mortgage market would give you a working knowledge of the home loan approval process, and allows you to build up a reliable credit reputation.

Be consistent with your other debt repayments

Your credit history is perhaps the most crucial determinant in your home loan application. It should be a habit for you to pay bills consistently. Banks often do credit checks with other banks or billers to gauge your ability to meet their repayment requirements. They will scrutinize everything from late and missed payments, defaults, overpayments, and other relevant information that would help them see how risky or safe you are as a borrower.

If you have a bad credit history, it’s not too late to turn it around and settle your accountabilities. Seek options on how you can rebuild your reputation as a responsible borrower.

It is important to note, however, that having no credit history at all will not necessarily translate to a good home loan application. As mentioned earlier, banks would want to see how consistent you are in paying your dues. In a way, having existing loans is better than having none at all. If you are not a fan of credit card or other loans, you can instead submit your phone and utility bills. Even insurance statements can give banks an idea of how you are as a client.

Do not submit multiple applications with different banks

Never go on a fishing expedition and apply to multiple lenders for a home loan; banks might see it as bad behavior and an indication of a higher risk.

Instead, make a list of banks or lenders you wish to avail home loans from and research about their mortgage products, benefits, interest rates, and disadvantages. Submit your application to one bank at a time. If you do not get approved at the first one, move on to the next lender on your list.

Have a guarantor

A guarantor is someone who will be of help to you when unforeseen circumstances result in you not being able to make repayments for a period of time. First-time home buyers usually sign their parents up as their guarantors.

Guarantors who have a good credit standing can boost your application and get it approved in no time. It is also an advantage if the guarantor was a previous client of the lender you are submitting your application to.

Explore your options at the Lamudi Affordable Housing Fair

Lamudi’s Affordable Housing Fair in Glorietta 3 Activity Center in Makati City is a great avenue for you to know every nook and cranny of home ownership—from selecting a house that fits your needs to applying for a mortgage that suits your financial health.

Home loan experts will grace this two-day event to give attendees a seminar on the Philippines mortgage market. Banks and lending firms will also be present to showcase their home loan products for potential home buyers.

Mortgage Application

The Lamudi Housing Fair will be on June 30–July 1, 2018, Saturday to Sunday. To register for the event, click here.

Cherianne Mangrobang

PR & Partnership Officer, Lamudi Philippines Inc.

June 28, 2018
LAMUDI PH Gear Up For Second Affordable Housing Fair

Now on its second year, the Lamudi Housing Fair continues its goal of bringing aspiring homeowners closer to the most affordable properties in the Philippines.

Leading Philippine real estate website Lamudi Philippines is once again gearing up to help hardworking Filipinos finally achieve their dream of homeownership with the second installment of the Lamudi Affordable Housing Fair happening at the Glorietta Activity Center on June 30 and July 1. Similar to last year’s successful first run attended by more than five thousand visitors, this will be a platform that will bring together some of the biggest names in affordable real estate in the country.

“As industry experts have alluded to repeatedly, the low number of affordable homes in the Philippines is a growing issue. Many Filipinos who work hard to provide for their families want a home to call their own, and more often than not, low-cost properties are the more viable option. Unfortunately, these options are not enough,” Lamudi CEO and Managing Director Bhavna Suresh Chathambeth said. “As we have witnessed during the first Lamudi Affordable Housing Fair, there is indeed a great demand for affordable residential properties, which is why we are just as excited now for the second year of the affordable housing fair series.”

Several low-cost residential options will be presented by the most prominent property brands brands in the country. Attendees can look forward to top-notch developments with attractive prices and payment options offered by Ayala Land, Filinvest, Data Land, and Profriends, among others. Investors who are in the market for foreclosures will have the chance to purchase their dream home during the event’s property auctions.

As an event that will also serve as a learning venue, the housing fair will likewise host a number of speakers who will provide audiences with buying, selling, and investment tips. Talks covering everything from investing to applying for a home loan will be hosted by real estate brokers and government representatives, among others.

On top of property displays, exclusive discounts, and informative seminars, the event will be hosting several exciting games and raffles. Various event sponsors will also provide guests with fun freebies.

Join us for two days of property showcases, informative seminars, real estate auctions, and exciting games and prizes at the Lamudi Affordable Housing Fair happening at the Glorietta Activity Center on June 30 to July 1, 2018 from 11AM to 10PM. For more information about one of the most exciting housing events of the year, visit the official website.

May 18, 2018
LAMUDI Honors PH Top Brokers

Now on its second year, the Lamudi Broker Awards Night is an exclusive gathering recognizing the most influential real estate brokers in the industry.

>Lamudi Philippines, the country’s leading online property portal, will award the country’s top brokers on March 7, 2018 at the Grand Hyatt Manila in Bonifacio Global City, Taguig.

The awards consist of seventeen categories divided into individual, company, and special awards. Lamudi shall be choosing who among its 5,000+ premier broker network will bag the coveted titles.

The individual and company awards consist of top brokers and brokerages, respectively, with the most inquiries generated and most viewed properties in the whole of 2017. For the individual awards, Lamudi will also acknowledge three brokers of the year—one each from Luzon, Visayas, and Mindanao.

Meanwhile, the special accolades include the People’s Choice award for the best broker, as well as the Lamudi Broker Ambassador award or the broker with the most number of converted referrals. There are also loyalty awards for both broker and brokerage who have been trusting Lamudi since 2014.

The black tie event will also serve as an appreciation night for Lamudi’s partner brokers, who have been with the company since its early beginnings. “They have supported us for the past four years, and we have grown hand in hand with them. And this is one of the ways we are giving back,” shared Lamudi Managing Director and CEO Bhavna Suresh.

At the same time, there will also be networking opportunities as the movers and shakers of the real estate industry will be in attendance.

The Lamudi Broker Awards Night is one of the company’s first major events this year. It will also hold several Housing Fairs in Manila and Cebu, and an industry awards dubbed The Outlook in November.

February 23, 2018
HLURB Partners With LAMUDI, Aims To Increase Transparency

HLURB and property website Lamudi join forces to push for transparency in real estate this 2018.

The Housing and Land Use Regulatory Board (HLURB) and online real estate marketplace Lamudi Philippines come together for a partnership aimed at improving real estate practices in the country and encouraging transparency in the industry.

A ceremonial signing was held in Makati on January 24, and was attended by HLURB Chief Executive Officer and Commissioner Atty. Lloyd Christopher A. Lao, HLURB Commissioner Atty. Melzar P. Galicia, Lamudi Philippines Managing Director and CEO Bhavna Suresh, and Lamudi Philippines Director for Brand and Communication Ken Lerona.

A more visible HLURB

Under the one-year partnership, readers of the Lamudi: Real Estate Magazine should expect thought leadership pieces from none other than Atty. Lao, with topics ranging from the rights of buyers of real estate, to the verification of brokers, projects, and developers.

HLURB will also use the Lamudi platform to address frequently asked questions, including those about options for financing, procedures and remedies afforded to aggrieved buyers and developers, and even who to approach or look for when paying a visit to their office.

Consistent with its aim to increase transparency in the industry, HLURB also has revamped and upgraded its website, which now comes with a user-friendly online inquiry feature. This shall be integrated in the Lamudi website which receives around 1.5M visits per month, so property seekers will find it easy and hassle-free to search for registered brokers, as well as projects that have been issued License to Sell numbers.

All of these form part of HLURB’s efforts to keep up with the times by embracing digital, and to be more visible to the public and serve them better.

Transparency through technology

In the 2016 Global Real Estate Transparency Index (GRETI) by JLL, a leading real estate and investment management firm, the Philippines ranked 46th out of 109 countries and fell under the semi-transparent market. This tier, according to JLL, is where the most rapid progress in real estate transparency can be found.

Rising expectations from citizens as well as technological advancements serve as drivers for improving real estate transparency. Innovations in the prop-tech industry, JLL says, “offer the opportunity for a quantum leap in data access to support a rising culture of ‘open data.’”

Aside from high-quality accessible market data, ingredients of a transparent real estate market include: strong corporate governance, stringent regulatory enforcement, high ethical standards, and international best practice.

For Atty. Lao, responsible real estate practice is the key to the sustainability of the housing sector. He also maintained that although HLURB is a regulatory body, they are very much willing to help and cooperate with those under their jurisdiction.

Ms. Suresh, for her part, shared that Lamudi is one with HLURB in its aim to push for transparency as this shall open many doors in the future. As seen in JLL’s 2016 GRETI, higher real estate transparency is linked to new business and investment, and even plays a role in community well-being and inclusiveness.

“As the authority in the prop-tech industry in the country, Lamudi is thrilled to be partnering with HLURB for this,” she added. “We are here to support HLURB, and look forward to more partnerships like this one.”

February 18, 2018
How To Get Rich The Camella Way?

Who else wants to get rich the Camella way? You will become rich with a process and a driven-purpose.

Camella, the flagship brand of Vista Land and Lifescapes, Inc. , and the most-preferred home-builder in the country. The Company aims to provide quality homes to everyone in the nation. Aside from that, it also aims to serve affordable homes and gives a chance for people to earn money.

In celebration of the Camella Homes’ 40th Milestone Year Anniversary headed by Mr. Manny Villar last August 27, 2017 in Vista Mall Taguig, Camella also launches its “RICH” program. Refer and Invest in Camella Homes! This recruitment program aims to target young professionals and adults who are keen on making extra income. As long as you have the right mindset and the skills needed to be a good real estate agent, then this sideline job is perfectly suited for you!

Now is the best time to get down to business. Fill up a form online at http://www.camella.com.ph/inquiries/sales-recruitment or visit the nearest Camella office in your area. You have to refer and refer! Refer people.

It has two (2) steps on how to get rich the Camella way:

Step 1: Fill up a form at http://www.camella.com.ph/inquiries/sales-recruitment. You can also visit the nearest Camella office in your area. This step will make you accredited.

Step 2: Refer and refer! Refer people around you, such as your family, friends, and acquaintances.

August 28, 2017
Thai hospitality chain expands overseas with opening of first hotel in PHL

Traveling with class used to be only for the privileged ones, but not until Thailand-based Hop Inn Hotel was officially launched in the Philippines through its pioneering outlet along Ermita, Manila that offers high quality accommodation for both the business and leisure markets on a tight budget.

According to The Erawan Group PLC President, Ms Kamonwan Wipulakorn, this island nation serves as their first market abroad since they ventured into the economy category, in addition to the premium global hospitality names they have been building and operating over the last three decades.

Shown in photo (from left)
Kamonwan Wipulakorn, Director and President, Erawan Group PLC
Youssef El Khomri, VP for Hotel Operations, Erawan Group PLC

“The country has high potential for tourism in the long term,” she said. “We believe that the Philippines will offer the fastest and highest economic growth in the Asean region and through our analysis and market research on the ground, we see very good opportunities to expand in the Philippines.”

On December 1, 2016, Hop Inn Ermita opened its door for local and foreign tourists to experience and enjoy first-hand what the Thai expertise and world-renowned Filipino hospitality are about. While it falls under the economy travel class, the hotel is designed to offer quality and convenient stays––thanks to the company’s 35 years of vast experience in developing international five-star hotels, such as the Grand Hyatt and JW Marriott, among others.

“So travelers can expect a decent accommodation here at affordable prices,” the top executive noted. Unlike other similar facilities out there, she added that this new budget hotel located at the heart of the country’s capital exceeds the guests’ expectations.

Upon entry to this mid-rise property, visitors could already feel the warmth of this place with the vibrant colors of the lobby. This is complemented by the courteous and accommodating staff, who are well-trained and on-hand to assist them so as to make their stay well worth their money.

Hop Inn Ermita has 168 rooms––all spacious and well-appointed. Each is equipped with fundamental amenities to ensure a good night’s sleep after a tiring business or leisure trip, and in preparation for the next day’s meetings or city exploration.

“We offer a very basic requirement. Our brand essence is for our rooms to be clean, convenient, comfortable, and safe,” Wipulakorn cited. “We make sure that all of these are consistent to all our clients here and in our upcoming branches in the near future.”

The leading hotel operator in Southeast Asia has allocated around 10 billion baht, or about P12 billion, for its five-year investment plan aimed at further growing its Hop Inn network in the region.

“Thirty percent of that will be for the Philippines,” the Group’s president said of their P3.6 billion capital expenditure to build around 20 three-star hotels nationwide by 2020.

As the leading investor in the hospitality sector in Thailand, The Erawan Group currently operates 41 hotels there, with a total inventory of 6,000-rooms.

“Next year, it’s going to be 50 hotels, including two in the Philippines,” Wipulakorn bared,

referring to the P200 million-worth Ermita property and the 190-room Makati branch, the latter now under construction in preparation for opening in September 2017.

Others in the pipeline include the ones building up in Aseana in Pasay City and Alabang in Muntinlupa––both scheduled for inaugural in the first quarter of 2018. The Group is also looking at Quezon City, Chinatown, and Cubao in Metro Manila, as well as Cebu and Davao in the Visayas and Mindanao regions as potential sites for its Hop Inn brand.

Beyond giving a boost to the national economy and local hospitality industry, The Erawan’s expansion program is expected to create more direct and indirect employment opportunities for Filipinos.

“We have created jobs with our ongoing construction already. We will set up an operation team in the next few months and the plan is to hire local staff as many as possible as they would understand customers’ requirement and respond well to market,” Wipulakorn said.

Impressed by the positive turnout of the guests, following the official opening of the flagship Hop Inn outlet in Manila, the Group has already identified their captive market in the Philippines.

“In Thailand, 85 percent of our guests are international. But we have a very good domestic market as well. So about 15 percent would go to domestic. But I think over here will be more domestic, maybe 85 percent. So we expect more business travellers here more than leisure guests,” she pointed out.

Bullish on their first venture overseas, Wipulakorn revealed that they intend to double their target number of hotels in the next 10 years.

“We also look at maybe investments into the midscale or four-star category in the Philippines,” she stressed. “I hope that we bring a good quality product for the Philippine market and that we get a good response. We also want to be part of the community here.”

For more information about Hop Inn Hotel, visit www.hopinnhotel.com and follow their social

media pages at www.facebook.com/hopinnhotelph and hopinnhotelph on Twitter and Instagram.

REFERENCE:

Sara Trenuela
Media Relations
0921.5484997 / 09234617045

December 13, 2016
Workplace that builds on your success

When it comes to employee satisfaction, factors like competitive pay, benefits, and work responsibilities are common considerations that shape the playing field. However, specialists are now looking at the correlation between a location’s general climate to career satisfaction and overall business success.

SM Prime Holdings Inc. (SMPHI) operates under this concept. The affiliate of SM Investments Corp. has invested on the E-Com complex to ride and sustain the booming business growth in the country by providing a progressive work environment.

David Rafael, Senior Vice President of SMPHI explained, “Companies are investing in the Philippines because of three things. World-class facilities, competitive labor cost, and its educated workforce. Maintaining that growth momentum means we have to keep these factors intact.”

He continued, “How do you do this? By creating infrastructure that is conducive to both the business and the workforce.”

The E-Commerce complex located within the Mall of Asia township is built around the concept. Comprised of One, Two, and Five E-Com Center, the steadily rising business district is designed to offer a good balance of accessibility, infrastructure, and lifestyle opportunities for work-life balance.

Also currently in the pipeline is SM Prime’s first Leadership for Energy and Environmental Design (LEED) green building Three E-Com center which is slated to be completed by 2017. Four E-Com center, which has broken ground this year, is also expected to be operational by 2020.

One E-Com center opened in 2008 followed by Two E-Com center in 2012 to much success. Five E-Com center, which contributed an additional 88,000 sqm leasable area to the business complex last year has also reached full occupancy since opening its doors last year.

Three E-Com Center and Four E-Com Center will both add a gross floor area of 111, 727 sqm and 123,968 sqm respectively to the growing business district.

The master planned buildings are specifically designed to cater to information technology businesses which have been flooding the country during recent years. Recently, the SM Central Business Park or SM iCity 3, which includes the area of Three and Four E-Com, has also been declared as a PEZA Special Economic Zone.

“The focus should not only be in fostering business growth but in cultivating a dynamic work environment for the people operating there,” said Rafael. “A business district should be well-rounded and capable of standing by itself.”

SM Prime’s vision for its E-commerce centers is supported by a strong suite of resources within the township. Besides from the place being accessible to employees through major thoroughfares, the area also has lifestyle destinations for a more versatile experience. A stone’s throw away is top shopping destination Mall of Asia and entertainment venues SMX Convention Center and SM Arena.

Leisure developments like Microtel and the soon to be operational Tryp Hotel and Conrad Hotel are also included in the township. Residential developments under SM Residences (Sea, Shell, Shore, and Shore 2) are also within close proximity of the area.

Boosting the convenience of the business district are also expansion of infrastructure. Additional floors in the North and South Parking building are in the works as well as an additional pedestrian footbridge that will connect the office buildings to the lifestyle and parking spaces.

“Boosting the business sector should be fueled by support from all aspects. This means providing the right infrastructure and a good working environment. If the workforce is happy, growth will definitely follow,” Rafael closes.

About SM Prime: SM Prime Holdings, Inc. is the property arm of the SM Group of Companies, which has major business interests in banking and retail sectors apart from property segment. M Prime has developed key establishments in the residential, office, hotels and other leisure-oriented projects.

REFERENCE:

Richard Mamuyac

May 18, 2016
Tutuban Center holds bomb explosion and simulation exercise

To maintain the safety and security of shoppers, Tutuban Center recently conducted an bomb explosion and simulation exercise to test the capability of its emergency response team.

The simulated exercise was also meant to determine the strength and weaknesses of its Disaster Emergency Response Team (DERT) in responding to emergency situations and enhance its response procedures when dealing with delicate situations.

Tutuban’s Assistant Vice President-Safety and Compliance, Ted Mosquito, led the activity in close coordination and collaboration with PNP Police Station 2 to comply with the National Disaster Risk Reduction Management and Council (NDRRMC) manual and its implementing rules. The station, located at Nolasco corner Morga Streets in Tondo, Manila, has jurisdiction over Tutuban, and is headed by P/Supt. Nick Pinion.

“We have conducted this activity on a yearly basis in our efforts to serve our customers better, and maintain a safe and secure shopping center. By doing so, we also train and equip with enough knowledge and awareness our DERT staff, our tenants, employees and contracted service providers on how to respond and react properly in this kind of emergency,” explains Mosquito.

The activity was conducted in two phases: preparation and actual. Preparation involved coordination, collaboration and meetings with concerned offices/units and careful planning in terms of personnel and logistics, and the actual, where there were lectures, briefings and rehearsals of Tutuban’s DERT and other participants to ensure success.

Bottom line, the participants were proven effective and efficient in performing their individual roles and assigned tasks when responding to this type of emergency.

There were a total of 168 registered participants, comprised mostly of Tutuban personnel and police officers from Precincts 6 and 7 both under Police Station 2. Other units that participated include the Explosive Ordinance Disposal Unit (EOD), the Special Reaction Unit (SRU), Scene of the Crime Operatives (SOCO) and the Manila Traffic Bureau, plus other Manila Police Department (MPD) units headed by no less than P/Senior Superintendent Carlito Felicano. Tutuban Center is located along C.M. Recto Avenue in Manila and is open daily from 9 a.m. to 12 midnight. Visit our Facebook page Fb.com/TutubanCenter, follow us at Twitter and Instagram accounts, @TutubanCenter.

REFERENCE:

Contact: Jerome Samson
Telephone: (02) 7061971/ 09178961568
E-mail: jsamson@amprpublicity.com

March 21, 2016