Specialists are still skeptical about the new measures of the Central Bank. Three analysts offer their position.
The Central Bank of the Argentine Republic (BCRA) eliminated the obligation to include in UVA mortgage loans a clause that triggers the extension of payment terms if the installment/dividend ratio deteriorates, which will force policyholders to take risks in the decision to accept it.
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“Now everything is in the hands of the person requesting the credit and it is not an easy decision”a bank account executive who asked not to be identified told NA.
The specialist explained that now those who are going to request the loan will have to decide whether to pay a lower fee and take the risk or take out insurance or pay more and cover themselves from a surge in inflation.
mortgage loans housing real estate properties
Public and private banks launched their credit lines.
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“Before, it was an obligation to provide that option and therefore the insurance that imposed an additional cost of 1.5% per month, now it will be decided by the client based on their situation,” added the executive, who considered that in a country with an inflationary history like Argentina “is a complicated decision.”
The second level in which this measure is proposed is from the banking and financial side.
Claudio Rabias from Uniprop, a real estate company dedicated to this type of operations, considered that it is still premature to measure the impact and focused on the elimination of the prohibition on monthly payments. “We have to see how it depends on people’s preferences because some regulatory changes can be useful, but others can add uncertainty and that is not good.”
The other plane is banking and financial. “It is good news to advance in the securitization of credits and lower the cost of financing,” he remarked. Federico Rouco economist, specialist in the real estate market.
The Central rule allows banks to put together packages with their credits and offer them in the financial market. It should be remembered that a similar scheme was the one that caused the fall of Lehman Brother in 2008, which unleashed a global financial crisis.
