Hi
Was wondering any EXPAT like me here purchased a condo in Makati? Since my condo unit near to the due date of turn over, my sales agent requested me to do a bank financing for the remaining of 70%. What surprise me is , non of the bank are giving loan to me as expat.
Before I purchased / invested a property here I checked with bank at that time ( 1 year ) ago , bank still give out loan to expat.The bank officer told me recently, it's just due to some incident happened , last year. Many of the bank decided not to give out loan to Expat. So I have no choice but to get an in house loan for 10 years.
What surprise me , the in house loan seems like a ripped ooff , the interest rate seems up to the sky like more than 15% p.a for 10 years loan. I was wondering anyone here use Maceda Law to pull the plug? Im thinking this is way too much and as an Expat no other bank is giving me loan this give me no other options and I do not know why property developer / sales agent here still keep encouraging to expat to invest into buy condo unit , it's ridiculous.