More and more banks are adding mortgage loans to buy, build or expand homes, taking advantage of the new economic direction that is emerging in the country. Two of them have the particularity of having anti-inflation clauses. They are the case of Banco Nación and Banco Ciudad.
All the proposals on the market today are in adjustment systems through the Purchasing Value Unit that the Government publishes every day, that is, they use the UVA value to update the values of capital and quotas.
What makes these new instruments attractive is that inflation has been falling month after month, and the dollar has been stable for months, which shows a positive horizon in this sense.
Mortgage loans from Banco Nación
He Bank of the Argentine Nation (BNA) launched the new line of mortgage loans “+Hogares con BNA”, which will be available from May 20.
With an investment of US$4,000 million, it is planned to grant up to 40 thousand loans in three years.
This initiative offers a unique benefit: users will be able to pay a premium of 1.5 percentage points, which will allow them to adjust the increase in the contribution according to the salary variation coefficient (CVS), preventing it from exceeding the increase in salaries.
The BNA proposal covers the purchase, exchange, construction, renovation, and expansion of homes throughout the country, as well as the acquisition of a second home.
In this way, the financial entity will join the banks that came out with their inflation-adjusted loan lines such as Hipotecario, Ciudad, ICBC, Del Sol and, in the last few hours, Banco de Córdoba.
Mortgage loans, which suffered a decline during the 2018-2019 crisis, have returned with an average rate of 5% plus inflation, as reported by the banks themselves. And they highlighted the renewed interest in this product, which experienced a boom in 2017.
Requirements and conditions to access the mortgage loan from Banco Nación
Banco Ciudad mortgage loans
He city Bank, for its part, offers two lines of loans available, also with UVA adjustment. The first line allows you to acquire a first or second home in all areas of influence of Banco Ciudad (AMBA, provinces of Córdoba, Mendoza, Tucumán and Salta). In UVAs. At 5.5% rate.
The second line for the acquisition of family housing, unique and for permanent occupation in the Microcenter of the Autonomous City of Buenos Aires. In UVAs at 3.5%.
Banco Ciudad clients have the possibility of requesting an extension of the term of their loan if the amount of the installment to be paid exceeds 10% of the value resulting from applying a capital adjustment by the Salary Variation Coefficient (CVS) from the time of credit disbursement.
This means that if the monthly loan payment (which is adjusted for inflation) exceeds 10% of the CVS, clients have the option to extend the original credit term by up to 25% of the total amount. The term extension may be made every time the established condition is met, but the maximum limit of up to 25% of the original term of the loan must be respected. The extension must not exceed the retirement age limit.
In the event that the client can access the extension of the term, what is done is to recalculate the balance of the loan with the new term, which produces a reduction in the installment in terms of its amount.
This option allows you to buy a property located in AMBA, Córdoba, Mendoza, Tucumán or Salta:
Source: Ambito
