In order for the process of pawing any property to be done right, it is necessary for us to subject all loan borrowers to a 1-3 minute interview. This will help us know the perfect lender to pair you with.
On your end, you will immediately know if you qualify to apply. You will be informed outright if we may be able to help you on issues of your property ownership status and other related legal issues it may have.
This is also where you can ask any questions you have in mind regarding property pawning. These questions may include figures from interest rates to charges and fees. You will also be informed about the documentary requirements. If you may have issues producing one or two, we will help you and give you insights.
Please be reminded that in order for your loan application to be processed, you need to submit complete documents together with your completely filled up application form. At this point, a personal interview may be necessary and will be requested by our lending company provider.
You may ask concerns regarding inavailablity of any documents. We also help qualified clients in securing other related loan application requirements such as those that can be secured from the registry of deeds (RD) or City Assessor's Office in your respective municipality.
Note that this is offered only to Metro Manila residents and we do not charge any fee for this extra service. Be reminded to submit only photo copy or xerox copied documents.
In this process, the lending company is the one to decide if a document is sufficient based from their standards. The loan borrower must understand that there may be instances that a document is deemed incomplete or insufficient. If this is the case, additional requirements may be necessary to be submitted by the borrower.
All documents submitted must be valid copy and updated to the latest version available. A latest copy may be secured first and submitted before C.I. and appraisal is scheduled.
Otherwise, upon completion of documentary requirements, the borrower will be informed to pay for the C.I. and appraisal fee. This fee will be deposited in the account of the lending company and not to the agent or loan broker.
The approval process takes at least 1 week and may be extended if any problems are encountered. Here, some of problems may be little technicalities but patience must be observed by the loan borrower.
Availability of the borrower is required all the time and any concern by the lender must be immediately address for fast process of loan approval.
After the lending company comes up with a loan approval, the next and last step is annotation of the title. The borrower will be requested to bring in all original documents and most importantly, the original copy of the property title being pawned for last minute authentication.
Annotation of encumbrance with Land Registration Authority will be the last process. Immediately after the annotation, the loan proceeds will be released to the borrower in the form of a cheque.