PSBank Accredits Lancaster Suites Tower I Condotel Investments in the Philippines

MRR and PLR Articles Pack

Below is a MRR and PLR article in category Finance -> subcategory Real Estate.

AI Generated Image PSBank Offers New Financing for Lancaster Suites Tower I Condotel Investments in the Philippines

Overview:

Philippine Savings Bank (PSBank), a subsidiary of MetroBank and the country's second-largest thrift bank, has accredited Pacific Concord Properties Inc.'s Lancaster Suites Tower I for its home loan program.

Key Details:

PSBank's Home Rate Protect program allows buyers to finance up to 70% of their unit's total contract price, with a repayment plan extending up to 25 years. The fixed interest rate of 11.5% per annum provides borrowers protection against interest rate fluctuations.

Eligibility:

The program is open to all Filipinos and those married to foreign nationals, aged between 21 and 65 upon loan maturity. To qualify, buyers must have paid at least 30% of the condo's net contract price. This financing applies exclusively to Lancaster's residential units.

Recent Developments:

Beth Collingz, Marketing Director for PLC Global Pinoy International, highlighted that Banco De Oro (BDO) has also approved a financing option for Lancaster Suites Tower I, extending this opportunity to Filipino-Americans and foreign nationals. These buyers can now purchase or refinance Condotel units in the Philippines through BDO's Home Loan.

Flexible Financing Options:

Existing unit owners using Pacific Concord Properties' in-house financing, which allows repayments over 144 months, can now switch to BDO's Home Loan. This loan offers a longer repayment period of up to 15 years at the same interest rate of 11.5% per annum. Buyers can finance up to 70% of their unit's current value, regardless of prior payments, freeing cash for fit-outs or business setups.

Investment Opportunities:

Collingz noted that many previous clients are leveraging these financing options to reinvest in new units at Lancaster Atrium, currently available for pre-sale. By releasing equity, existing owners can benefit from rental income and achieve property appreciation of 70-80% upon the Atrium's completion in 2010.

Condotel Advantage:

Pacific Concord Properties, Inc. is committed to maximizing the value of investments through their Condotel Advantage program. This initiative offers unit owners access to world-class property management, ensuring high-quality maintenance and competitive rental income without the hassle of finding tenants.

By joining the condotel pool, owners can enjoy professional management of their properties with the assurance of rental income, whether residing in the Philippines or abroad.

This partnership with PSBank and BDO opens new avenues for investment, offering a blend of financial opportunities and strategic timing for potential and existing property owners at Lancaster Suites.

You can find the original non-AI version of this article here: PSBank Accredits Lancaster Suites Tower I Condotel Investments in the Philippines.

You can browse and read all the articles for free. If you want to use them and get PLR and MRR rights, you need to buy the pack. Learn more about this pack of over 100 000 MRR and PLR articles.

“MRR and PLR Article Pack Is Ready For You To Have Your Very Own Article Selling Business. All articles in this pack come with MRR (Master Resale Rights) and PLR (Private Label Rights). Learn more about this pack of over 100 000 MRR and PLR articles.”