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Mortgage loans: the bank that increased the amounts to lend to those who launder dollars - La Nacion Propiedades
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www.lanacion.com.ar
September 10, 2024
Banks continue to compete with each other to improve their conditions and requirements when granting mortgage loans and attracting customers.
Mortgage loans: the competitiveness of banks is becoming increasingly evident with the improvements in the conditions of their proposals THE NATION
Afew days before the end of the first stage of the money laundering process (September 30) , Banco Nación (BNA) announced that it is increasing the amounts it can lend on its mortgage credit lines for those who regularize their assets before that date .
In this way, people who have a “ Special Account for Asset Regularization ” (CERA) , which is necessary for money laundering, the bank will lend them up to US$250,000 (equivalent to 270,000 UVAs). While for the rest of the clients, the maximum loanable value is $261 million (230,000 UVAs to date or US$201,000 at the MEP dollar exchange rate ), an amount that was announced last week through an official statement.
With the rise of 21 banking entities that announced their available lines to access a home , the competition between them is becoming increasingly latent and shows that none of them wants to be left out of a recovering real estate market. “The objective of tax regularization is not fiscal, but to encourage economic activity. For this reason, we have decided to favor those who opened CERAs with our mortgage loan ,” explained Daniel Tillard, the president of the BNA.
A key fact to keep in mind is that the proportion of credit support for those who launder money reaches 90% of the appraisal of the home , so the applicant must provide at least 10% as an advance payment in dollars , which must have been previously deposited in the CERA account.
BNA will lend up to 90% of the appraisal value of the home for those who have a money laundering account FreePik
In addition, the “+Hogares con BNA” line has the option that, in the case of financing a single home and permanent occupation, users can limit the UVA adjustment to the CVS variation. What does this mean ? The bank has an option that works with an “anti-inflation” cap, with which the client can contract an option that will allow him to put a cap on the installment : “The cap results from applying an adjustment to the loan through the salary variation coefficient and, only if that adjustment is less than the UVA-adjusted installment, the cap will be activated,” explained the president of the BNA.
The difference in the amounts will be carried over to the end of the loan, updated by UVA , and once the payment schedule is finalized, the resulting balance will be rescheduled. It can be paid with a personal loan or with a mortgage extension. The president of the entity announced that this option has a premium of 1.5% per year. However, “only after 180 days of the loan being disbursed, applicants will be able to choose this option,” he concluded, thus giving debtors time to decide whether they want to take that alternative or not.
Federico González Rouco, an economist specializing in housing, exemplifies this option: a person requests a 30-year UVA mortgage loan with an annual rate of 4.5% . The bank, in turn, calculates two installments in parallel with the same initial value : one adjusted by UVA and another by the average salary (CVS). The installment that the user pays is adjusted monthly according to UVA and the “insurance” offered by the entity is contracted , so the user pays a kind of “surcharge” of 1.5% and can choose from month to month – if the UVA installment is higher than the CVS installment – which installment to pay. If the user chooses to pay the CVS installment, the unpaid balance accumulates at the end of the loan and is cancelled with a personal loan or with an extension of the mortgage.
The loan therefore goes from having an annual rate of 4.5% to 6%. “This means, for a 30-year loan, an extra 20% in the installment. In other words, to determine whether it is worth it or not, you have to take into account that it is at a high cost,” concludes Rouco.
The maximum amount is 230,000 UVAs and 270,000 UVAs for those who register for whiteningHernan Zenteno - The Nation/Hernan Zenteno
In this way, people who launder up to US$100,000 will not have to pay any fixed tax, nor would they have any penalty for assets that have not been declared . “People who have money under their mattress will be able to launder that capital and buy different assets, including real estate,” says Fabián Achával, CEO of the real estate company of the same name. For amounts exceeding US$100,000 , the project proposes progressive rates; the sooner you enter the regime, the lower the rate to pay:
If a taxpayer regularizes assets in more than one stage , the stage in which the last addition was made must be considered for all purposes .
Furthermore, one of the most attractive features of the money laundering is that, like the one announced in 2022, the regulations specify that if cash is regularized and left in the financial system until December 31, 2025, no fine is paid and no limit is set . In this case, it must be deposited in a Special Account for Asset Regularization - from which the advance of 10% of the value of the property can be paid at the Banco Nación when requesting a mortgage loan. Another option is to invest that cash in some of the placements authorized by the Ministry of Economy, which have just been announced: such as projects in the pit .
For works that are up to 50% complete, the rate is 0, depositing the money until September 30 and having until the end of December 2025 to choose which development, registered with the AFIP, to invest in. In the case of laundering less than US$100,000 in new construction, the only difference is that there is no obligation to maintain the investment until the end of 2025.
www.uysellba.com
Source:
Créditos hipotecarios: el banco que amplió los montos a prestar para quienes blanquean dólares
Las entidades bancarias continúan compitiendo entre ellas para mejorar sus condiciones y requisitos a la hora de otorgar préstamos hipotecarios y conquistar clientes
www.lanacion.com.ar
September 10, 2024
Banks continue to compete with each other to improve their conditions and requirements when granting mortgage loans and attracting customers.
Mortgage loans: the competitiveness of banks is becoming increasingly evident with the improvements in the conditions of their proposals THE NATION
Afew days before the end of the first stage of the money laundering process (September 30) , Banco Nación (BNA) announced that it is increasing the amounts it can lend on its mortgage credit lines for those who regularize their assets before that date .
In this way, people who have a “ Special Account for Asset Regularization ” (CERA) , which is necessary for money laundering, the bank will lend them up to US$250,000 (equivalent to 270,000 UVAs). While for the rest of the clients, the maximum loanable value is $261 million (230,000 UVAs to date or US$201,000 at the MEP dollar exchange rate ), an amount that was announced last week through an official statement.
With the rise of 21 banking entities that announced their available lines to access a home , the competition between them is becoming increasingly latent and shows that none of them wants to be left out of a recovering real estate market. “The objective of tax regularization is not fiscal, but to encourage economic activity. For this reason, we have decided to favor those who opened CERAs with our mortgage loan ,” explained Daniel Tillard, the president of the BNA.
A key fact to keep in mind is that the proportion of credit support for those who launder money reaches 90% of the appraisal of the home , so the applicant must provide at least 10% as an advance payment in dollars , which must have been previously deposited in the CERA account.
BNA will lend up to 90% of the appraisal value of the home for those who have a money laundering account FreePik
In addition, the “+Hogares con BNA” line has the option that, in the case of financing a single home and permanent occupation, users can limit the UVA adjustment to the CVS variation. What does this mean ? The bank has an option that works with an “anti-inflation” cap, with which the client can contract an option that will allow him to put a cap on the installment : “The cap results from applying an adjustment to the loan through the salary variation coefficient and, only if that adjustment is less than the UVA-adjusted installment, the cap will be activated,” explained the president of the BNA.
The difference in the amounts will be carried over to the end of the loan, updated by UVA , and once the payment schedule is finalized, the resulting balance will be rescheduled. It can be paid with a personal loan or with a mortgage extension. The president of the entity announced that this option has a premium of 1.5% per year. However, “only after 180 days of the loan being disbursed, applicants will be able to choose this option,” he concluded, thus giving debtors time to decide whether they want to take that alternative or not.
Federico González Rouco, an economist specializing in housing, exemplifies this option: a person requests a 30-year UVA mortgage loan with an annual rate of 4.5% . The bank, in turn, calculates two installments in parallel with the same initial value : one adjusted by UVA and another by the average salary (CVS). The installment that the user pays is adjusted monthly according to UVA and the “insurance” offered by the entity is contracted , so the user pays a kind of “surcharge” of 1.5% and can choose from month to month – if the UVA installment is higher than the CVS installment – which installment to pay. If the user chooses to pay the CVS installment, the unpaid balance accumulates at the end of the loan and is cancelled with a personal loan or with an extension of the mortgage.
The loan therefore goes from having an annual rate of 4.5% to 6%. “This means, for a 30-year loan, an extra 20% in the installment. In other words, to determine whether it is worth it or not, you have to take into account that it is at a high cost,” concludes Rouco.
Requirements and conditions to access the mortgage loan from Banco Nación
- The maximum amount is 230,000 UVAs and 270,000 UVAs for those who register for whitening
- Financing is up to 75% of the sale value of the home to be purchased and 90% for those who have a CERA account
- Payment method in UVAs
- The rate is 4.5% for bank customers.
- The ratio of the quota to the applicant's income must not exceed 25%
- The term to request the loan is 5, 10, 15, 25 and up to 30 years.
- The credit is intended for the purchase, change, construction, repair and expansion of first and second homes throughout the country.
- The maximum age to apply for it is not to exceed 85 years at the time of completion of the payment schedule.
- You can add income from the cohabiting family group or from non-cohabiting co-debtors.
The maximum amount is 230,000 UVAs and 270,000 UVAs for those who register for whiteningHernan Zenteno - The Nation/Hernan Zenteno
Money laundering: how it works
With this measure, the Government seeks to regularize goods and assets that are declared in the country, paying a low penalty if they exceed US$100,000, which will increase depending on the time of entry. All assets, exceptionally, must be valued in US dollars .In this way, people who launder up to US$100,000 will not have to pay any fixed tax, nor would they have any penalty for assets that have not been declared . “People who have money under their mattress will be able to launder that capital and buy different assets, including real estate,” says Fabián Achával, CEO of the real estate company of the same name. For amounts exceeding US$100,000 , the project proposes progressive rates; the sooner you enter the regime, the lower the rate to pay:
- Until September 30, 2024 : a 5% rate is paid on the surplus of US$100,000
- Until December 31, 2024 : the rate is 10%
- Until March 31, 2025 : the rate rises to 15%
If a taxpayer regularizes assets in more than one stage , the stage in which the last addition was made must be considered for all purposes .
Furthermore, one of the most attractive features of the money laundering is that, like the one announced in 2022, the regulations specify that if cash is regularized and left in the financial system until December 31, 2025, no fine is paid and no limit is set . In this case, it must be deposited in a Special Account for Asset Regularization - from which the advance of 10% of the value of the property can be paid at the Banco Nación when requesting a mortgage loan. Another option is to invest that cash in some of the placements authorized by the Ministry of Economy, which have just been announced: such as projects in the pit .
For works that are up to 50% complete, the rate is 0, depositing the money until September 30 and having until the end of December 2025 to choose which development, registered with the AFIP, to invest in. In the case of laundering less than US$100,000 in new construction, the only difference is that there is no obligation to maintain the investment until the end of 2025.
www.uysellba.com
