Online mortgage broker Nook champions financial inclusion for home loan applications

Online mortgage broker Nook is driving toward a more inclusive banking and lending system in the Philippines as it strengthens its partnerships with local banks and gives Filipinos more home loan options across its online platform. By joining Nook's growing list of partners, those banks also open more opportunities to reach borrowers in every part of the country.

Despite a range of initiatives from both the private and public sectors to bridge the gap between financial institutions and unbanked Filipinos, a large share of the population still remains shut out from securing and applying for property and commercial loans.

As the country's first online mortgage broker, Nook aims to provide easy application access to many more Filipinos — without any charges — and to help borrowers save thousands in home loan repayments. Through its partnerships with Philippine banks, more Filipinos gain access to a simpler home loan process that can help them secure their dream properties in far less time.

A full-service brokerage, free to the borrower

What makes Nook different is that it is a full-service brokerage, not a self-serve tool. A dedicated Nook loan consultant runs the entire application for you — preparing and lodging the bank forms, gathering your documents, chasing the follow-ups and handling all the back-and-forth with the lender. You never fill in bank application forms yourself or queue at a branch.

And it costs the borrower nothing. Nook is 100% free to use because the banks pay Nook a commission once a loan is released — not the client. That model means a first-time buyer is supported by the same expert, guided journey as anyone else, removing one of the biggest barriers to applying in the first place.

More banks, more options for borrowers

Rather than approaching one bank at a time, Filipinos using Nook can pre-qualify in around three minutes and have Nook compare a broad panel of lenders to find the bank most likely to approve them, at a competitive rate. Nook works with many of the country's largest lenders, including BDO, BPI, Security Bank, EastWest, UnionBank, RCBC, China Bank, Maybank, AUB, PSBank, Robinsons Bank and CTBC.

For overseas Filipino workers in particular, the online model is a significant change. Because the whole journey happens online and a consultant manages the bank relationship on the applicant's behalf, OFWs no longer need to be physically present to keep an application moving — a long-standing obstacle for those trying to buy property back home.

Part of a bigger mission

Founded in 2020, Nook has since grown into the Philippines' original and award-winning mortgage broker, recognised as the Awarded Best Mortgage Broker Philippines by the Pan Finance Business Awards. Championing financial inclusion sits at the heart of the company's larger goal: to help 1,000,000 Filipino families buy their own home.

This story originally appeared on manilastandard.net.