THE Subdivision and Housing Developers Association (SHDA), together with Pag-IBIG Fund (Pag-IBIG), urged several groups and employers to access the affordable shelter financing program through the Fund’s bulk and group sale of its acquired assets.
“For over 50 years, SHDA has remained steadfast, not only in articulating the advocacy of the housing industry but also in championing the welfare of the member developers and providing its members more opportunities. Pag-IBIG, on the other hand, has been SHDA’s partner in providing affordable home financing to our kababayans,” SHDA National President May Rodriguez said during the fourth Kapihan Zoom event Own a Home for Less: Pag-Ibig Fund Acquired Assets For Bulk Sale.
Pag-IBIG emphasized that part of its mandate is to ensure that the housing loan programs consider all stakeholders involved and that it caters to both the housing industry’s supply and demand.
“This is why we manage the Pag-IBIG Fund prudently to keep our interest rates low and our home loans affordable and why we have inclusive programs that cater to all Philippine workers, including the socialized housing market,” Marilene Acosta, Pag-IBIG Fund deputy chief executive officer of Home Lending Operations Cluster, said.
The Kapihan discussion mainly focused on how members can purchase Pag-IBIG Funds’ bulk and group sale of its real and other properties acquired through their Pag-Ibig fund contributions.
Members are entitled to a 40- to 45-percent discount upon approval of their loan of at least P10-million worth of properties. For regular bulk sales, buyers should avail at least P10-million worth of properties through negotiated sale under the buyer-initiated bulk sale (BIBS).
Pag-IBIG also urged buyers to purchase properties in bulk for a much higher discount rate of 40 percent for approved P10-million to P50-million worth of properties; 42-percent discount for more than P50 million to P100 million; and 45 percent for sales of more than P100 million for both regular bulk sale and BIBS.
It also clarified that if the buyers fail to secure properties worth P10 million in their first attempt, they are still entitled to bid or submit another request for three consecutive attempts within five successive postings of properties to meet the ceiling prices set by Pag-IBIG to qualify for the discounts.