Thousands of Lancaster New City homeowners are still paying rates above 8% — Nook can help you refinance to as low as 5.99% p.a. at zero cost to you.
LANCASTER NEW CITY HOMEOWNER SAVINGS
No commitment. No credit check. Just your numbers.
Why this matters
Lancaster New City in Kawit, Cavite is one of the Philippines' largest and most established mixed-use developments, home to tens of thousands of families who financed their properties through banks like BDO, BPI, Security Bank, or in-house developer financing. If you purchased your unit or townhouse several years ago, there is a strong chance your current interest rate is anywhere from 7.5% to 10% — rates that were common at the time but are now significantly above what the market offers. Refinancing allows you to replace that old loan with a new one at a much lower rate, reducing your monthly amortisation without extending your debt unnecessarily.
Nook is the Philippines' first digital mortgage broker, and our service is completely free for borrowers. We compare offers from major Philippine banks — including BDO, BPI, Metrobank, RCBC, UnionBank, and more — so you don't have to apply one by one. For a Lancaster New City property with an outstanding balance of around 3,000,000, switching from 8.50% to 5.99% on a 20-year term can reduce your monthly payment by over 4,500 pesos. That's real money back in your pocket every single month, whether you're living in the development or renting it out. Homeowners in nearby master-planned communities have been doing the same — similar refinancing opportunities exist for those with Alveo High Park properties in BGC.
The refinancing process can feel intimidating, but Nook handles the bank comparison, paperwork coordination, and follow-ups on your behalf. Lancaster New City properties are well-accepted collateral by most major Philippine banks, given the development's size, established infrastructure, and strong resale market in Cavite. Whether your loan is with the original developer's financing arm or a bank, Nook can assess your eligibility and find you the best available rate in the market today. If you're curious how rates compare across the metro, you can also browse current home loan rates in Makati as a benchmark for what Philippine banks are offering right now.
How it works
Enter your loan details into our calculator. Instantly see what banks are offering right now and how much you'd save each month. No personal information required.
If the numbers make sense, book a free call. Your consultant compares offers from 15+ banks — something that would take you weeks to do on your own — and recommends the best option for your situation.
We manage the entire application, documentation, and bank coordination. You sign where we tell you. Your new lower payment starts next month. Nook's service is completely free — we're paid by the receiving bank.
Common questions
Yes, you can refinance out of in-house developer financing into a bank loan — in fact, this is one of the most common and highest-savings scenarios. In-house financing from property developers typically carries rates of 10% or higher, so switching to a bank loan at 5.99% p.a. through Nook can dramatically cut your monthly amortisation. Nook will guide you through the transition and coordinate with your chosen bank.
Most major Philippine banks — including BDO, BPI, Metrobank, Security Bank, RCBC, and UnionBank — accept Lancaster New City properties as collateral given the development's established reputation and scale in Cavite. Nook compares offers from all of these lenders simultaneously so you receive the most competitive rate available for your specific property type and loan amount. Approval criteria may vary slightly by bank, and Nook will match you with the lender best suited to your profile.
Savings depend on your outstanding loan balance, remaining term, and your current interest rate, but homeowners with a 3,000,000 balance moving from 8.50% to 5.99% on a 20-year term can save over 4,500 pesos per month — more than 54,000 pesos a year. Over the life of the loan, that can add up to over 800,000 pesos in total interest savings. Use Nook's free calculator or speak with a Nook advisor to get a personalised estimate for your situation.
The typical refinancing process in the Philippines takes between 30 and 60 days from application to loan release, depending on the bank and how quickly documents are submitted. Nook streamlines this by helping you prepare your requirements upfront and by managing bank communication on your behalf. Properties in established developments like Lancaster New City generally move through bank appraisal and approval faster than properties in less documented subdivisions.
Yes, Nook's mortgage brokering service is 100% free for borrowers — Nook is compensated by the bank when your loan is successfully placed, not by you. You will still need to budget for standard third-party costs such as the bank's appraisal fee, notarial fees, and registration charges at the Cavite Registry of Deeds, but these are the same costs you would pay regardless of whether you use a broker. Nook is fully transparent about all fees before you commit to anything.
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