Nook President and CEO, Chris Elder, appeared on BusinessWorld Live / One News Philippines to talk about how Nook is making home loans simple, and how the company helps Filipinos make better financial decisions when it comes to their biggest purchase — their home.
The message Chris shared on air is the same one that drives Nook today: borrowers should be able to spend more of their money on their families and less on their home loan. By comparing banks side by side and matching each borrower to the right lender, Nook helps Filipinos avoid paying more than they need to over the life of a loan.
How Nook makes home loans simple
Nook is the Philippines' original mortgage broker, on a mission to help Filipino families buy their own home. Rather than asking borrowers to queue at branch after branch and submit the same paperwork to each bank, Nook does the entire home loan application for them. A dedicated loan consultant compares lenders, matches each borrower to the bank most likely to approve them, and handles the back-and-forth from the first enquiry all the way through to approval.
That done-for-you model is the heart of the service. Customers never have to fill in bank forms or visit a branch to follow up — their Nook consultant runs the whole process on their behalf. And because Nook's partner banks pay a commission once a loan is released, the service is 100% free to the borrower.
Helping Filipinos make better financial decisions
The point Chris made on BusinessWorld Live / One News Philippines was that a home loan is a decision that follows a family for years, so it pays to get it right from the start. Nook 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 end-to-end experience now covers 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 interview, 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.
Featured on BusinessWorld Live / One News Philippines.