Metrobank says home, auto loan applicants prefer house-and-lot developments and SUVs

METROPOLITAN Bank & Trust Co. (Metrobank) is seeing preference for loans for house-and-lot properties and sport utility vehicles (SUVs) among borrowers, showing that Filipinos are prioritizing practical purchases for their families.

“These preferences of today’s home and car owners reflect how Filipino households typically approach major financial decisions,” Metrobank said in a statement on Monday.

“Large purchases such as homes and vehicles are often evaluated collectively within families, with careful consideration given to long-term financial priorities including emergency savings, healthcare needs, and rising household expenses.”

Borrowers applying for home loans prefer house-and-lot developments over condominium and townhouses, it said, reflecting residential real estate industry trends of steady demand for horizontal housing developments in suburban areas over vertical living as they want larger spaces for their families.

“Housing continues to be one of the most important long-term financial goals for Filipino households,” Metrobank said. “Studies by the Bangko Sentral ng Pilipinas show that property ownership remains a key aspiration tied to financial security and long-term wealth building.”

Meanwhile, SUVs are the top choice for borrowers seeking auto loans as these have larger seating capacity and are more versatile for families compared to sedans, it added.

“A similar pattern is seen in vehicle financing. SUVs and multipurpose vehicles continue to dominate the Philippine market, with commercial vehicles, such as SUVs, pickups, and vans, accounting for the majority of vehicle sales as car owners prioritize space, flexibility, and durability for everyday travel.”   

Metrobank said it offers various financing options for borrowers looking to make home and vehicle purchases and has brought back its “Goals Made Real” promo, which will run until May 29.

Under the promotion, those applying for a home or car loan can get low interest rates, waived fees of up to P60,000, and free one-year AXA car insurance for car loan borrowers.

Loan applications must be approved and booked by July 31 to qualify for the promo.

More details are available on the bank’s website.

“This initiative aims to help more Filipinos turn long-term goals such as owning a home or buying a family vehicle into reality sooner.” — A.M.C. Sy