What are the best banks in Philippines for mortgaging property?

[gearhead]

Let's say you have some land you wanted to mortgage to assist you in buying a house and lot what banks give the best rates? Deals?

Would you go for fixed rates?

Any experience out there with bank home loans here in the Philippines?

[frenchtower]

GH, I suggest you shop around different banks in your area. Start first with the top 5 commercial banks then the top 5 savings banks. Each of them have different ways to attract and secure a loan transaction. Once you get the best numbers, try to ask your preferred bank if they can match the offer you have gathered from their competitors. You will have a much better edge if you have a long standing relationship with your main bank.

One thing is most certain, all banks are more interested in the ability of the borrower to pay back the loan than getting your property as collateral.

Just my 2 cents