Online mortgage broker platform Nook will conduct a pilot test of its services by June, its chief announced on Wednesday.
During the platform's launch in Taguig City, Nook Chief Executive Officer Chris Elder said his company would put up one or two kiosks where customers could inquire about the platform's offerings.
"We offer users an end-to-end platform, from property search to bank approvals, empowering more Filipinos to gain seamless access to financial options available to them," Elder said.
What Nook set out to do
Nook is the Philippines' original mortgage broker, on a mission to help Filipino families buy their own home. From the very first announcement, the idea was simple: instead of asking borrowers to queue at branches and submit the same paperwork to one bank after another, Nook would do the home loan application for them — comparing lenders and guiding each borrower from first enquiry through to approval.
That done-for-you model remains the heart of the service today. A dedicated Nook loan consultant runs the entire application on the borrower's behalf, so customers never have to fill in bank forms or visit a branch to follow up. Because Nook's partner banks pay a commission once a loan is released, the service is 100% free to the borrower.
From pilot to a full-service brokerage
The "end-to-end platform, from property search to bank approvals" that Chris Elder described at launch is exactly how Nook works today. Nook now compares 20+ banks — including BDO, BPI, Security Bank, UnionBank, RCBC and China Bank — and lets Filipinos pre-qualify online in about three minutes before a consultant takes over the rest of the process.
That experience now spans new home loans, refinancing, home equity, construction, improvement and acquisition financing — for house and lot, condo, townhouse, vacant lot and apartment purchases. It serves borrowers based in the Philippines as well as OFWs applying from abroad, who would otherwise find it hard to lodge and follow up an application from overseas.
Since this early launch coverage, Nook has grown into a full-service brokerage and has been Awarded Best Mortgage Broker Philippines by Pan Finance, recognising its work modernising the way Filipinos access home loans.
Source: manilatimes.net