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This Website Will Make It Easier for You to Buy a Property or Get a Home Loan

This Website Will Make It Easier for You to Buy a Property or Get a Home Loan

Nook Admin – January 26, 2020

Nook is a website that plans to change the way we purchase properties. Founded in Australia in 2018 by accountant and IT consultant Chris Elder, the site was primarily made to make mortgage brokering available online. A mortgage loan is significantly a foreign term in the Philippines, but simply put, it’s when the bank helps you acquire your desired property but the lender is the owner of the said property until the debt is fully paid. Versus a home loan, which is when the bank lends you the sum you need to purchase your desired equity but the amount is to be paid back with an interest rate. For a home loan, the property is considered as collateral and will be liquidated if the loan is not fully paid.

Chris Elder Nook Launch January 15 2020

With all the technicalities in getting these bank loans, Nook has made it easier by making the application and loan processing all done online. The website allows you to browse through different kinds of spaces—either for sale or rent—in all parts of the country, and then matches you with a home loan from the bank of your choice. This way you won’t need to do all the legwork required when canvassing for places.