The Dream Unit That Came With a Surprising Rate
In late 2021, Camille Santos, a 34-year-old marketing director from Quezon City, signed the papers on a 45-square-meter one-bedroom unit in Bonifacio Global City. It was a milestone she had worked toward for nearly a decade — a modern high-rise with a view of the BGC skyline, close to her office in Uptown BGC and the restaurants she loved on 5th Avenue.
Her bank, where she had kept a savings account since college, approved her housing loan quickly. The amount: 6,200,000 pesos. The term: 20 years. The interest rate: 8.50% per annum, fixed for the first three years.
Her monthly amortization came out to 54,100 pesos. Camille told herself it was manageable — she was earning well, and BGC condos only go up in value. She signed, and moved in by January 2022.
Three Years Later: The Repricing Letter Arrives
In December 2024, Camille received a letter from her bank. Her fixed-rate period was ending. The new rate being offered: 9.25% per annum. Her revised monthly payment would jump to 57,800 pesos — nearly 3,700 pesos more every month than what she was already paying.
She called the bank's customer service line. She was told the new rate reflected current market conditions and that if she wanted to keep her loan, she would need to accept the repriced terms. There was no negotiation, no counteroffer, no acknowledgment that she had never missed a single payment in three years.
That evening, Camille opened her laptop and started researching. She typed variations of the same question into Google for an hour: housing loan condo BGC Makati Philippines best rate 2025. She looked at BPI, BDO, Metrobank, Security Bank, PNB, RCBC. Every bank had slightly different rates, different lock-in periods, different fine print. She had a spreadsheet open but the numbers kept blurring together.
Then she found Nook.
What She Learned About BGC and Makati Condo Loans
Camille's first conversation with a Nook mortgage advisor clarified something she had not fully understood before: refinancing a condo in BGC or Makati is different from refinancing a house-and-lot in the suburbs. High-rise condominium units in premier CBDs are considered prime collateral by Philippine banks — which means lenders compete more aggressively for these borrowers.
Her advisor explained the landscape:
- BPI typically offers competitive fixed rates for BGC and Makati condos with flexible repricing terms of 1, 2, 3, or 5 years.
- BDO has a strong appetite for high-rise units in the Bonifacio and Ayala corridors and often approves larger loan amounts against appraised value.
- Security Bank had been aggressive in 2024 and 2025 on premium condo refinancing, with some of the lowest fixed rates available in Metro Manila.
- Metrobank and RCBC are worth including in any comparison, especially for borrowers with longer remaining loan terms.
- Chinabank has quietly become a strong option for refinancing units in the Makati CBD corridor.
The Nook advisor also told Camille something that surprised her: she did not need to go to each bank herself, fill out multiple application forms, or gather duplicate document sets for each lender. Nook would do all of that on her behalf — and the service was completely free.
"We're paid by the bank when your loan is approved," her advisor explained. "You pay nothing. And our job is to get you the best rate, not to push you toward any one lender."
If you own a unit like One Serendra in BGC or a similar Ayala-developed property, Camille's advisor noted, you may qualify for even more competitive refinancing offers due to the strong appraisal values in those developments.
The Numbers That Changed Everything
Within a week, Nook had submitted Camille's refinancing application to four banks simultaneously. The results came back over the following two weeks:
| Bank | Rate Offered | Fixed Period | Est. Monthly Payment |
|---|---|---|---|
| Her current bank | 9.25% p.a. | 3 years | 57,800 |
| BPI | 7.25% p.a. | 3 years | 47,900 |
| Security Bank | 6.50% p.a. | 2 years | 46,200 |
| Metrobank | 7.00% p.a. | 3 years | 47,300 |
| BDO | 6.75% p.a. | 2 years | 46,700 |
Camille chose Security Bank's offer at 6.50% per annum. Her new monthly amortization: 46,200 pesos. Compared to the repriced rate she had been facing, that was a savings of 11,600 pesos every month. Compared to her original payment, she was saving 7,900 pesos monthly.
Over 24 months — the fixed period — that was 277,200 pesos in savings before her next repricing. And because she now knew refinancing was an option, she planned to review her rate again when that period ended.
"I feel stupid for not doing this sooner," Camille said. "Three years of paying 8.5% when I could have been paying less. That's real money I could have kept."
What BGC and Makati Condo Owners Need to Know in 2026
Camille's story is not unusual. Thousands of Filipino professionals own condominium units in Bonifacio Global City, Makati CBD, Rockwell, and the surrounding areas — and a large portion of them took out home loans during 2018–2022, when rates were higher or when they simply accepted whatever their bank offered at the time.
If you are in that group, here is what matters in 2026:
- The best refinancing rate currently available through Nook is 5.99% per annum. Depending on your loan balance and remaining term, the monthly savings can be substantial.
- BGC and Makati condos appraise well. Banks are generally willing to lend up to 70–80% of appraised value on these units, which means refinancing is often straightforward.
- You can refinance even if your original bank is not on Nook's panel — the new bank pays off your existing loan and takes over as your lender.
- The process takes approximately 4–8 weeks from application to approval, depending on the bank and the completeness of your documents.
- Nook's service costs you nothing. There are no broker fees, no consultation charges, no hidden costs to the borrower.
Properties in Forbeswood Heights and other Megaworld-developed towers in BGC have also seen strong refinancing results through Nook — you can read about how Forbeswood Parklane BGC condo owners have refinanced for a sense of what to expect for your own unit.
How to Start Your Own Comparison
If you own a condo in BGC, Makati, or anywhere in Metro Manila and you are paying more than 7% per annum on your home loan, the math almost certainly works in your favor to refinance.
Here is what Nook will do for you:
- Review your current loan — balance, remaining term, current rate, and any prepayment penalties.
- Submit your profile to multiple banks simultaneously using a single document set.
- Present you with the best offers and explain the real total cost of each option.
- Handle all the paperwork, bank coordination, and follow-ups until your new loan is approved and released.
There is no obligation to proceed. If the numbers do not work in your favor, your Nook advisor will tell you honestly — and explain when it might make sense to revisit.
Camille's only regret was that she did not start three years earlier. Yours does not have to be the same story.