Financing in the real estate market is a key point for thousands of families to access housing.
Less than a year ago, 23 banks launched mortgage loans and that reactivated the sector. But these credits are aimed at estate used. Given the lack of credits for projects in progress, divisible mortgages were announced, which although they are on the way, have not yet begun to be implemented.
However, some time ago some developers decided to give this sector a boost by offering post-delivery financing, mostly for 12 or 18 months. This applies to well projects with a certain degree of progress or those that are brand new.
“This modality emerged at the time in the market because there was a lot of supply and little demand. There were a large number of projects completed and under construction. Those that were under construction, and who needed financing, began to devise ways to attract demand over completed and brand new projects. This is how they began to offer installments beyond possession, to make the product more attractive,” commented Ignacio Mel, Director of Mel Inmobiliario.
“A ticket is signed where, depending on the progress of the work, an advance payment is paid and the amount of installments is set, a percentage of which will remain to be paid beyond possession,” he clarified.
Brand new projects, major protagonists of this type of financing
Brand new apartments are also part of the range of options that some developers began to offer with the possibility of paying in post-delivery installments.
“Until recently there was no financing. The people who could buy properties I could only buy it if I had all the money. The only possibility of financing was in a project under construction where one entered with an advance and paid the rest in installments but had to wait two or three years for them to give them the property. Now with the mortgage loans An opportunity arose for those who want to buy a used apartment. But the mortgage credit for new departments. In this case, divisible mortgages are being regulated for projects in progress or under construction but there is still no credit for brand new apartments,” explained Hernán Siwacki, CEO of Capital Brokers.
Currently there are cases in which the developers do not need all the money to be able to finish the work, but rather they use their own capital or that of their investment group and offer buyers who are looking for a brand new apartment and do not manage to put all the money together. post-possession financing.
“They give you possession of the apartment, you can use it or rent it, you pay a 50% advance and you pay the remaining balance in a short period of time. It is financing that serves to decompress people who lack little money to get there,” Siwacki added.
Neighborhoods with opportunities
Demand is active and it is an interesting opportunity for buyers. There are some options in neighborhoods such as Belgrano, Colegiales and Palermo that are being managed with this modality.
However, at the time of delivery there is still no deed so it is not possible to make a mortgage. If the buyer does not pay the agreed installments, the credit is canceled and legal action is initiated. But obviously, before agreeing on financing, an exhaustive study of the buyer’s payment capacity is carried out to avoid problems.
Source: Ambito
