Although the banks point out that the delinquency recorded at the end of the management was less than 1%, the UVA credits represented
a real headache for many of its customers, since Macri’s first year marked a inflation of 24.8%while the last one 53.8%.
However, the second edition of UVA credits, in the midst of a disinflationary process, appears as a hope in the face of the lack of financing for the purchase or construction of a home.
In that sense, Ambit conducted a survey of the main banks operating in the country to check the demand and level of delivery of UVA credits, two months after their return. “So far we have 15 thousand applicationsbut only 1 was closed, meaning the loan was granted,” they respond at one entity.
“Have the first three procedures “These loans have been sent to the notary’s office, but none have been settled yet,” said another bank. However, they are careful to clarify that the granting process usually takes at least 45 days and the entity only launched the loans on 31/05.
Regarding the claim, the bank maintains that “There is a lot of interest, inquiries and requests in progress.which have not yet been formalized due to lack of documentation or selection of property.”
Another financial institution tells this media that since May onwards More than 22,000 customers They entered the digital channel, simulated the loan and obtained an online prequalification. “To date we have with more than 3,200 operations with documentation presented that is in the process of being approved,” they detail off-screen.
“It is a slow process, less than a month ago Access to the MEP dollar was released on the day for home purchases,” contextualizes the representative of an entity, explaining why until now the approvals do not represent a significant percentage.
In the same line, Federico Gonzalez Roucoan economist at Empiria Consultores, “it is expected that the relaunch will be slow” since “There is not enough revenue to have a large volume like in 2017-2018”.
“The credits are the same, same value of properties, but with 20 more points of poverty”, defines the housing specialist. In any case, he considers that “it is a good time” to take a UVA since “Volatility will always be there, but m2 will rise”.
Another public entity reports that they received More than 16,000 consultations by web form and about 500 folders already contain the consolidated information, with 90% of applications advanced already approved, whose owners are looking for properties.
Until now, It has already disbursed 15 loans for more than $1.1 billion granted. These are credits that range between $50 million and $100 million and the average is $70 million.
What do economists think about UVA credits?
While talking to the banks, Ambit spoke with economists to analyze whether it is appropriate in this context to request a UVA loan.
For Federico Machadoeconomist at the OPEN observatory, it is time to “wait and see”: “Let us imagine scenarios. If the Government’s plan goes as intendedinflation should fall much further, and with that the interest rates of the UVA could be set at lower levels, or even consider a loan tied to the Badlar rate.”
On the contrary, If the economic plan does not work“There will be a devaluation and with it an inflationary peak and a new abrupt fall in real wages,” the specialist exemplifies.
Therefore, it is understood that in both cases it will be advisable to wait before evaluating the request for a UVA loan, “until this state of uncertainty is resolved”, even at the risk of increasing the cost of construction in real terms.
For its part, Dante Morenoeconomist of EPyCA consultantsbelieves that the previous experience under this modality during the Macri government, “has generated more problems than solutions” because the value of the installments and the capital owed “went at a faster rate than the salary increases.”
Despite the Macri experience, the current macroeconomic context in which inflation “does not seem to be fully under controlwith an inflationary floor of 4.5% to 6% monthly until December” is an operational and “psychological” barrier that slows the demand for UVA credits.
In this scenario, Dark adds a potential devaluation that could be moved to prices of goods and servicesand a salary update that continues to be below inflation.
“The situation It is worth taking precautions and/or waiting to a better perspective of the national economic context. If the demand for this type of credit were more dynamic, the response of the real estate market would be a greater supply of property and an eventual increase in the value of housing, something that is not currently being seen“, concludes Moreno.
A more thorough analysis of the level of demand will come between August and Septemberaccording to a bank. “That will really determine whether consumers are willing to bet or not. There is a lot of interest. It will depend on inflation.”, the entity concludes.
Source: Ambito
