What Documents Do I Need to Refinance My Condo Loan in BGC?

Every lender will require a standard set of personal and financial documents regardless of property type. For a BGC condo refinancing application, expect to prepare the following:

• Valid government-issued IDs — at least two, such as a passport, driver's license, SSS/GSIS ID, PRC ID, or PhilSys National ID
• Filled-out bank application form — each bank has its own format; Nook can provide the right forms for the lenders you're applying to
• Marriage certificate (if married) — issued by the Philippine Statistics Authority (PSA)
• Birth certificate — PSA-issued, sometimes required for dependents or co-borrowers
• Proof of billing address — utility bill or bank statement not older than three months

These are the baseline requirements. Additional documents will be layered on top depending on your employment status and the specific bank you're applying to.

Since you're refinancing a condo unit in BGC, the property documents are central to your application. Banks need to verify the property's legal standing and current value. You will typically need:

• Condominium Certificate of Title (CCT) — the primary proof of ownership; your current lender holds the original, but more on that below
• Deed of Absolute Sale (DOAS) — the original sale document from when you purchased the unit
• Tax Declaration — current copy from the Taguig City Assessor's Office (BGC falls under Taguig)
• Real Property Tax (RPT) receipts — latest official receipts showing taxes are paid up to date
• Condominium association dues receipts — some banks request these to confirm the unit is in good standing with the building administration
• Floor plan or unit layout — typically sourced from the developer or the condo corporation

Note that BGC condos are registered under Taguig City, so all government-issued property documents should reflect this jurisdiction.

If you run your own business or are a freelancer or professional in private practice, banks apply a slightly more rigorous income verification process. On top of the standard personal documents, you'll need to prepare:

• DTI Registration (for sole proprietors) or SEC Registration (for corporations or partnerships)
• Business permits and licenses — current barangay clearance and mayor's permit
• Latest two to three years of ITR (Income Tax Return) — BIR Form 1701 or 1701A, stamped as received
• Audited Financial Statements (AFS) — for the past two to three years, signed by a CPA
• Bank statements — personal and/or business accounts for the last six to twelve months
• List of trade references or major clients — some banks ask for this to assess business stability

Self-employed borrowers sometimes find the process more document-heavy, but Nook's team can help you identify which banks have the most favorable treatment for your income profile.

This is one of the most common questions — and a source of confusion for many homeowners. Here's how it works:

When you took out your original home loan, your lender held the original CCT as collateral. You do not need to retrieve it yourself. Instead, as part of the refinancing process, your new lender (or Nook on your behalf) will coordinate with your current bank to arrange the transfer of the title once your existing loan is fully settled using the proceeds of the new loan.

What you will need to provide is a certified true copy of the CCT, which you can request from the Registry of Deeds of Taguig City. This is a standard, low-cost document request and is sufficient for the initial application stage.

The transfer of the original CCT happens at the back end of the process — you don't have to manage this yourself when you use Nook.

If you are a salaried employee — whether locally employed or an OFW — the income documents banks typically require are:

• Certificate of Employment (COE) — dated within the last 30 days, stating your position, tenure, and compensation
• Latest one to three months of payslips — most banks ask for at least two consecutive payslips
• Latest Income Tax Return (ITR) — BIR Form 2316 stamped by your employer, or BIR Form 1700 if you file separately
• Bank statements — last three to six months, showing your salary credits

For OFWs, you will additionally need:

• POEA-approved employment contract or equivalent employment documentation
• Proof of remittances — bank statements or remittance receipts for the past six months
• Special Power of Attorney (SPA) — if a representative in the Philippines is handling the application on your behalf

Having these documents ready upfront speeds up the evaluation process considerably.

Yes, in almost all cases the new lending bank will require a fresh property appraisal. This is because the appraisal determines the current market value of your BGC condo unit, which in turn determines the maximum loan amount they're willing to offer (usually 60% to 80% of appraised value, depending on the bank).

The good news: you typically do not need to arrange the appraisal yourself. Banks either send their own accredited appraiser or coordinate with an accredited third-party firm. The cost of the appraisal is sometimes covered by the bank as part of a promotional offer, or it may be charged as a processing fee — Nook will help you clarify this for each lender option.

BGC properties generally appraise well given the area's strong real estate market, which works in your favor when establishing your loan-to-value ratio and negotiating terms.

Banks will want to understand the current state of your existing mortgage before approving a refinancing application. You'll need to provide:

• Latest Statement of Account (SOA) from your current lender — showing your outstanding balance, current interest rate, and payment history
• Loan amortization schedule — showing the full repayment breakdown if available
• Proof of on-time payments — bank statements or official receipts confirming your payment history for at least the past 12 months
• Original loan documents — your original Promissory Note and Real Estate Mortgage (REM) agreement, if you have copies

A clean payment history significantly strengthens your application. If there have been late payments in the past, it's worth being upfront — Nook can advise you on which lenders are more flexible. For those facing credit challenges, our article on how to refinance with bad credit in the Philippines may also be helpful.

BGC condos fall under the jurisdiction of Taguig City, and a few location-specific details are worth keeping in mind:

• Taguig City Tax Declaration — ensure your tax declaration is filed and updated with the Taguig City Assessor's Office, not Makati. This is a common mix-up given BGC's proximity to Makati.
• Condo corporation clearance — some BGC developments (like those by Ayala Land, Federal Land, or Robinsons Land) may require a clearance from the building's condo corporation confirming no outstanding dues or violations
• Developer-specific documents — if your unit is part of a large integrated development (e.g., One BGC, Uptown Bonifacio, or Grand Hyatt Residences), some banks may request the master deed of restriction or the condo corporation's registration with HLURB/DHSUD

Nook's team is familiar with the specific requirements for the major BGC developments and can flag anything that might be missing before you formally submit to a bank.

For most applicants, gathering the full document set takes between one and three weeks, depending on how quickly third parties (employers, government agencies, your current bank) can turn around requests. Here's a rough timeline:

• Personal IDs and government documents: Usually on hand or retrievable within a few days. PSA documents can be ordered online via PSAHelpline.ph.
• Income documents: COEs typically take 3–5 business days from your HR department. ITRs should already be on file if you've filed annually.
• Property documents: A certified true copy of your CCT from the Taguig Registry of Deeds can take 1–2 weeks. Tax declarations from the assessor's office typically take a few days.
• Statement of Account from current lender: Allow 3–5 business days for your bank to issue this formally.

Starting document preparation early — even before you've chosen a new lender — is a smart move. Nook provides a personalised checklist so you know exactly what to chase down first.

Yes — this is one of the core things Nook does for you, completely free of charge. As the Philippines' first digital mortgage broker, Nook acts as your advocate throughout the entire refinancing process, including document preparation and submission.

Here's how Nook helps specifically with documents:

• Provides a personalised document checklist tailored to your employment type and current lender
• Reviews your documents before submission to catch any gaps or errors that could cause delays
• Submits your documents to multiple banks simultaneously so you can compare offers
• Follows up with banks on your behalf so you're not chasing loan officers yourself
• Advises on which documents can be waived or substituted depending on the lender

You don't pay Nook anything — the service is funded by the banks when a loan is successfully processed. Whether you're refinancing from a private bank or exploring options after a Pag-IBIG loan, Nook handles the complexity so you can focus on the savings.