We all know the expansion of loans due to the low interest rate they offer since the fees are affordable.
In this note we tell you everything you have to take into account to get your credit.
Currently, the market offers lines for the purchase of homes, cars and motorcycles. The offer is led by the public sector, through Banco Nación, the City and the Province. Likewise, private banks such as Santander Río, Galicia, Macro and Hipotecario also have this option.
Now, what do we need to know when requesting a credit?
Review the contract before signing it
The National Directorate of Consumer Protection reports that many of the complaints received on this issue have to do with the lack of knowledge of what they sign. For this reason, we suggest that you request a copy of the credit contract in order to review it and receive external legal advice both before and after the signing of the contract.
Take into account associated expenses
The fees include administrative, grant and insurance expenses. In this regard, Fernando Blanco Muiño, national director of Consumer Protection, advises: “In the case of granting expenses (investigation of occupational data, appraisal) it is necessary to carefully determine which are to be charged two or three times throughout of the loan “.
There are two insurances: one for life and the other for housing; both are regulated by the National Insurance Superintendence and the Central Bank. “By a regulation of the Central Bank can not force anyone to hire insurance, you have the right to choose between different insurers. What matters is to insure the risk, not the company. You have to inform the options with your costs, “added Muiño.
Life insurance and physical exams
It is important to know that banks can get to request physical exams to approve life insurance. The limit amount depends on each entity: it can range from $ 1,000,000 to $ 1,600,000. Below these figures, it reaches with an affidavit.
In this sense, the National Directorate of Consumer Defense states that banks should warn about these conditions from the beginning. Thus, the user would be free to evaluate other more convenient options. “Any condition that the bank considers relevant should be stated in the same way as the loan rate, the term and the type of property that can be acquired is reported,” says Blanco Muiño.
Choice of scribe
When taking out a mortgage loan we will have to sign two contracts: the mortgage and the sale contract.
Usually the same clerk, the bank, is responsible for the two instances.
However, if we want to manage the second contract with a trusted scribe, we can do it. According to Law 25.093 / 99, banks must respect the choice of professionals that the parties have agreed upon.
New terms and percentages
At the beginning of August, Banco Nación announced that the maximum limit of the quota / income ratio increased from 25 to 30%. In addition, the maximum term of these loans was extended from 30 to 40 years.
A final factor to consider is age. Banks have different maximum ages to apply for a mortgage loan. There are some who have no limit, such as Banco Nación. Of course, from 65 years, the amount is adjusted to the beneficiary charges a retirement. In the case of Banco Ciudad, 30-year loans are granted up to 31 years.
It is important to evaluate all these variables before specifying a mortgage loan. Once decided, you can follow our steps to apply for a loan .