Bank housing loan

**WallyWest** · January 5th, 2019 02:07 PM

May banks na ganun ang SOP like Chinabank. They have lower interest kaso ganun nga. No loan release until the title has been transferred. Our developer warned us of that kaya sila ang nag present sa amin ng choices of banks. Did your developer not inform you of that? Ganun nga talaga with developers. Kelangan ma-release muna sa kanila ang pera.

PNB kami nag-loan. Paid downpayment sa developer, applied for the bank loan, waited for approval, bank waited for our go signal kung ire release na nila ang loan, punch listing with the developer, developer acted on our complaints, then turnover na. Wala pa sa pangalan namin ang title. Developer will shoulder the property tax this year.

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**papi smith** · January 5th, 2019 02:53 PM

Siguro to avoid this, pwede ba yung approved na bank loan mo 1 year before the balance kicks in to give sufficient time for the developer to transfer title?

**chronicle** · January 5th, 2019 03:34 PM

^
Should work if the developer is cooperative in the terms that the monthly payment from bank will be after a year after they finish transferring the property name.
Otherwise, it really is a case to case basis.

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**kaidemitsui** · January 5th, 2019 03:43 PM

Originally Posted by papi smith

Siguro to avoid this, pwede ba yung approved na bank loan mo 1 year before the balance kicks in to give sufficient time for the developer to transfer title?

Developer talaga po ksi may problema dito. I applied for the bank loan as soon as I completed paying the DP. Nag appraise agad ang bank yet ang baba ng value dahil di pa nga naman kasi tpos ang construction. That was August 2017 pa.
Kaya nkapagtaas na ako ng boses sa developer sa tagal nila gawin ang bahay.

Last September lng nag approve ang bank on my applied amount. And narelease nila ang bank guarantee nun October.

Despite sa lapses ng developer, ni ayaw ako bgyan ng consideration to move in early. Kahit willing ako magbayad muna sa knila (deducted dapat sa principal amount of course).

I was advised to talk to the bank about deed of undertaking para maka early move in kmi while waiting for the transfer of title.
Ano po ba ito?

Nun nabanggit ksi ito nun contract signing with the bank, i think no no ang reaction nila.

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**papi smith** · January 5th, 2019 04:36 PM

Sorry bro, don't know what it means, maybe our industry experts here will chime in.

**chronicle** · January 5th, 2019 04:45 PM

*kaide,

Did you already accepted the unit?
And what is with the deed of undertaking?

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**kaidemitsui** · January 5th, 2019 06:15 PM

Originally Posted by chronicle

*kaide,

Did you already accepted the unit?
And what is with the deed of undertaking?

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Di pa po. Dahil nga ayaw kmi payagan ng developer mag move in til di pa sila bayad ng bank.

About sa deed of undertaking. Ang intindi ko, another document para i release ng bank ang loan sa developer kahit na di pa na transfer sa name ko ang title. I already tried googling kun ano nga yun DOU na yan pero di ko din maintindihan mga results.

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**chronicle** · January 5th, 2019 06:42 PM

Originally Posted by kaidemitsui

Di pa po. Dahil nga ayaw kmi payagan ng developer mag move in til di pa sila bayad ng bank.

About sa deed of undertaking. Ang intindi ko, another document para i release ng bank ang loan sa developer kahit na di pa na transfer sa name ko ang title. I already tried googling kun ano nga yun DOU na yan pero di ko din maintindihan mga results.

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Well, you need to pressure the developer. Call them every week. Ask them why the transfer is taking too long and you demand answers. the bank wont release anything until the title is in your name cause that is your colaterral.

I dont think you dont have any other choice than wait. Btw, who is the developer and what place?

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**papi smith** · January 5th, 2019 06:54 PM

Another compromise would be that you pay the developer's MA on the condition that when the bank payment kicks in, they refund the total amount to you, that based on the reason that you did your part and everything is ready, and the ball is already well into their hands. Appeal is the word.

**kaidemitsui** · January 5th, 2019 10:46 PM

Originally Posted by chronicle

Well, you need to pressure the developer. Call them every week. Ask them why the transfer is taking too long and you demand answers. the bank wont release anything until the title is in your name cause that is your colaterral.

I dont think you dont have any other choice than wait. Btw, who is the developer and what place?

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On going na ang transfer of title so ang sagot nila saken is nasa govt agency na ang bola. Before holiday break, nasa BIR pa lng. I need to follow up on Monday kuna ano na ulit status.

The developer po is Holand and it's located in Tanauan, Batangas.

Originally Posted by papi smith

Another compromise would be that you pay the developer's MA on the condition that when the bank payment kicks in, they refund the total amount to you, that based on the reason that you did your part and everything is ready, and the ball is already well into their hands. Appeal is the word.

Ginawa ko na po yan. Ayaw nila. Kahit pa yun kapit bahay ko ay pumayag sila
Dahilan nila, pagibig daw yun sa knya. Bank ang sken.

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