This Wednesday, the Argentine Nation Bank (BNA) presented his UVA mortgage credit line. The entity led by Daniel Tillard will offer this type of loans until 30 years which will be valid from May 20.
Strictly speaking, UVA mortgage loans from Banco Nación are adjusted for inflation and have an additional rate, but with the particularity of having a I’m sure it puts a maximum on the fees monthly if there is a case of a trigger Consumer’s price index (IPC).
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“The Banco Nación team worked to add a unique benefit to the offer, while families who request the loans will be able to contract an option that will allow them cap the quota based on an adjustment of the salary variation coefficientand only if that adjustment is less than the quota adjusted by UVA, will the cap occur,” Tillard said.
Regarding the terms of the loans, he explained that “the maximum amount to be financed will be 75% of the value of the homewhich should not exceed the US$120,000 to the price of the MEP dollar. The fee-income ratio “It may not exceed 25% and the term of the credits will be 5, 10, 15, 25 or 30 years.”
The BNA launched the UVA mortgage credit line. (Photo: AdobeStock)
Specifically, the program called More homes with BNA will allow finance 40,000 homes over a period of four years for a total amount of US$4 billion. With this launch, the BNA joined the proposals of other five banking entities who already have these loans available: city Bank, Banco Supervielle, ICBC, Bancor and Hipotecario.
According to data from the College of Notaries of CABA, in March of this year there were barely 106 deeds made with a mortgage banking in Capital. In the same month of 2018, there were 2,219. Therefore, the return of UVA loans could help boost the real estate marketin which the middle class traditionally needs financing to access one’s own home.
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One by one, the banks that offer UVA mortgages
With the launch of the BNA, six banks now have UVA mortgages available again. Below, a review of the other five proposals:
- In the case of Mortgagethe rate is UVA + 8.5% and a return period of up to 30 years. It can be used to purchase a first or second home and finances up to 80% of the value. The maximum amount is $250 million.
- He city Bankmeanwhile, offers two lines to 20 years by until $250 million. One of them is focused on the conversion of the microcenter into a residential neighborhood and has a rate of UVA + 3.5%. The other, which can be applied to the payment of a first or second home located in any area, has a cost of UVA + 5.5%.
- For its part, Supervielle Bank offers UVA mortgages no amount limitwith a term of up to 30 years. For those who collect their salary in the bank, the rate will be UVA + 4% for the first 12 months and then it will rise to 5%. Meanwhile, for clients who do not prove their salaries, the rate will be UVA + 8%. It will also be available to non-customers. He minimum income of the family group must be one million pesos to qualify for a loan to buy a home, although they are lower for renovations.
- The bank ICBC also joined the proposal, with a UVA mortgage to be paid in up to 15 years. Additionally, this credit offers a UVA rate + 5% for those who prove their assets in the bank and 7.5% for the rest of the applicants.
- This week, the Bancor presented its UVA mortgage aimed at Cordoba family groups for the acquisition, construction and expansion or completion of housing. The current maximum amount per applicant is $90 millionto return in 20 yearswith a rate of UVA + 4.9%. The line allows financing the 100% ownership.
