Stability in Times of Uncertainty
Philippine Star
December 12, 2008
Today’s global financial turmoil brings a lot of
uncertainty to the financial and consumer markets. Stock markets crash,
capital values plummet, and banks tend to preserve their liquidity to protect
themselves from further uncertainty. Hence, credit gets tighter and tighter,
and lending interest rates keep on increasing to give banks an additional
safety margin for credit losses during tough times.
“Indeed, difficult and uncertain times call for extreme prudence in handling
one’s hard earned money. This is the underlying principle behind Robinsons
Land Corporation’s newest Super Easy Home Fixed Installment payment plan. It
is the first installment payment plan in the industry today that revolves
around only one fixed installment amount, whether for building up equity, or
amortizing the pre-bundled bank loan for the remaining balance thereafter. The
single fixed installment amount is key ingredient to providing our buyers with
peace of mind when purchasing a property”, says Joaqui Ng, RLC head for
mortgage & buyer finance.
For example, for every P1 million condo (net of reservation fee), a buyer
would be quoted a P10,300 per month fixed installment amount. The buyer would
be required to pay this P10,300 for 20 months, interest free, for a total of
P206,000 worth of equity at the end of 20 months. The contract balance
amounting to P794,000 will be automatically taken cared of by a pre-bundled
Robinsons Bank mortgage loan for 15 years. The monthly amortization required
for the mortgage loan is the same P10,300/ mo. fixed installment amount.
Hence, the buyer is only required to pay P10,300/ mo. from start to finish.
“This gives our buyers protection from uncertainties and ease of budgeting.
One only needs to compare the fixed installment amount to his budget for
monthly installments, and if it fits, then you can make a ‘worry free’
purchase”, Ng added.
To date, there are 23 shopping malls, 26 residential condominiums, 6 office
buildings, 31 housing & land developments, and 4 hotels.