BPI FAMILY SAVINGS BANK AND its affiliate Ayala Land Inc. have teamed up anew for a property pump-priming program meant to fill part of the large housing backlog in the country.

In a briefing yesterday, BPI Family president Alfonso Salcedo said the program was meant to give prospective homebuyers the opportunity to take advantage of record-low interest rates.

ALI senior vice president Bernard Dy said the offering was a reaffirmation of the property developer’s commitment to bring to the market quality residential units.

BPI Family and ALI have scheduled this October and November a series of property exhibits. The “Ayala Land-BPI Dream Deals” will be held in three events over the next weeks—Oct. 1-4 at the Glorietta activity center, Oct. 8-11 at the Alabang Town Center and Nov.7-8 at Trinoma Mall.

These events will feature ALI’s three brands—Ayala Premier, Alveo and Avida—and offer 5-10 percent discounts on unit prices alongside attractive financing options. It is the second time this year that BPI Family and ALI have rolled out such a property roadshow event.

Ayala Premier is the brand for upscale residential units while Alveo and Avida cater to the middle-income segments.

“Through this partnership with ALI, we not only aim to spur growth in the property sector but also give people financing options in making their dream homes a reality,” BPI Family senior vice president and head of retail mortgage Jocelyn Sta. Ana said.

She said the financing package could offer loans with a fixed rate of as low as 8.5 percent for the first year or as low as 9-percent fixed for five years. The tenor can go as long as 30 years.

Sta. Ana added that the bank could offer as high as 90 percent of collateral loan value. BPI Family has also committed to waive the appraisal fee.

As an additional sweetener, homebuyers can also benefit from BPI Family’s recent tie-up with furniture retailer Home Depot. For every approved loan, homeowners will be given a free Home Deposit card offering up to 10 percent discount on purchases, Sta. Ana explained.

For a minimum of P40,000 gross monthly income, applicants can qualify for the housing loan offered by BPI Family and ALI.