9 banks, 8 developers sign up for HGC's B-B-B program

MANILA, Philippines - Philippine Savings Bank, Planters Development Bank, East West Banking Corp., Sterling Bank of Asia, Philippine National Bank, Land Bank of the Philippines, Rural Bank of Makati, Philippine Veterans Bank, and Equicom Savings Bank; and developers Filinvest Land, New San Jose Builders, PRO-Friends, Suntrust Properties, Foghorn, 8990 Development Corp., Hausland and NGG Properties, Inc. all signed up for the Home Guaranty Corp.’s (HGC) Bankers-Builders-Buyers (B-B-B) program.

According to HGC president Manuel R. Sanchez, the B-B-B program is an enhancement of HGC’s function as fund mobilizer for housing.

“We aim to bring together bankers, builders and buyers in a housing finance circle complementing each other’s needs and functions”, Sanchez said.

The B-B-B program aims to assist partner banks promote housing loan products to builders and home buyers; bring builders to banks for project financing and promoting their housing units to prospective buyers; and guide homebuyers to self-qualify for housing loans and provide them with home-buying options according to their financial capacities and other preferences such as types of housing unit, location, etc.

Prospective homebuyers and the general public can avail of B-B-B services through the official B-B-B website. The B-B-B website is an online database of housing loan products of partner banks, available housing units of partner developers, home buying tips and guides, FAQs and various other information. “It is virtually Home Ownership 101,” Sanchez said.

The B-B-B website will be launched on Oct. 8, at the SMX Convention Center, Mall of Asia.