Hear
The real estate market continues to give something to talk about. A new private bank rode the wave of mortgage loan announcements and announced his own lines: Credicoop Bank. With this, There are already 16 entities that offer loans with the objective that more people can meet the dream of having your own house: Nación, Ciudad, Hipotecario, Supervielle, Galicia, Macro, Santander, BBVA, Brubank, Patagonia, Del Sol, ICBC, Bancor (Córdoba), Banco de Corrientes and Banco Provincia del Neuquén.
The big difference that Banco Credicoop proposes with the rest of the entities, is that offers two types of modalities in the offer of mortgage loans For the acquisition of first and second homes:
1) with the UVA line with a fixed rate of 5.5% (for those who credit their assets in the bank) and 6.5% (without accreditation)
2) in the traditional modality, in pesos and with variable ratewhich is currently 36% (Badlar Private Banks rate -32%- + 4 points)
“Based on the particularities that our users are faced with regarding the need to access their home in a context of growing increase in the cost of rentals, from Banco Credicoop and althoughwe have reservations about the convenience of borrowing with these instrumentswe have decided to relaunch the offer of mortgage loans,” the entity communicated to THE NATION.
After five years without mortgage loans in Argentinathe loans announced excite the real estate since, as demand for properties increases because a greater number of people will be able to access their own roof, would generate an increase in housing prices, mainly in areas where available options are scarce. Martín Boquete, director of Toribio Achával, reflects that “if it can be maintained low and stable inflation and the property market can operate in dollarsthe real estate sector will accompany the growth of the economy.”
The variable rate line has a current TNA adjustable by the four-month daily average of the Badlar Private Banks rate – which is currently 32.3750 – plus four basis points, that is, around 36%. This refers to the rate published by the Central Bank and established for fixed-term deposits greater than one million pesos in private banks.
Both lines of credit are variable with the difference that UVA loans They have a fixed rate, which depends on each bank, in the case of Credicoop it is 5.5% (for those who prove their salary) and 6.5% (for those who do not have a salary account) and what varies, in this case, is the fee when adjusted for inflation. While in the case of opting for the traditional line of credit (Badlar Private Bank Rate published by the BCRA), the rate is variable, since as mentioned before, it is adjusted depending on the data published by the BCRA and directly generates the variation in the fees.
For example, in a specific case of a loan requested for $10,000,000, the initial installments to be paid in each of the lines offered by Credicoop would be the following:
Market sources anticipated THE NATION that he Banco Provincia would be about to announce a mortgage credit line with a modality similar to the traditional Creedicoop line.
Regarding the common characteristics for both lines, we have:
“Based on the experience we have already had with the UVA line and the impact it may have on the updating of the debt and quota value, we have incorporated a complementary note to the application with recommendations and warnings that the borrowers of the line must take into account at the time of prequalification and at the signing of the mortgage mutual agreement”, they pointed out from the entity and shared the data to take into account before taking out a UVA loan:
