City Bank, a national bank, has joined the movement to relaunch new lines of UVA credits for home purchase or construction. Banco Hipotecario made the initial kick-off in this market. The public or semi-private banks take the lead in the UVA market, with private banks expected to join later in the year.
Banco Ciudad’s initial proposal includes a maximum amount of 250 million pesos with terms up to 20 years and an annual nominal rate of 5.5%, which drops to 3.5% for properties in the Buenos Aires microcenter. The capital owed will be adjusted at par with the value of the Purchasing Value Unit (UVA) to account for inflation.
Banco Hipotecario has also launched a credit line with similar terms but extended to 30 years. They offer a rate of 8.5%, dropping to 4.25% for borrowers with a salary account at the bank. Priority for credits will be given to those with salary accounts at specific entities and will finance up to 80% of the operation.
The National Bank is considering offering CER mortgages instead of UVA mortgages to avoid negative connotations associated with UVA loans. They are also considering including a safeguard for debtors against inflation exceeding income by activating insurance to cover differences in fee-income ratio.
In other news, structured cabling is being highlighted as a way for small businesses to reinvent themselves by improving infrastructure and connectivity within their business environment. This technology allows seamless communication and data transfer between different systems, promoting efficiency and productivity.
Overall, these developments show that banks and infrastructure companies are adapting to modern demands and providing better services to customers and businesses alike.
In conclusion, it seems that public or semi-public banks are taking charge of relaunching new lines of UVA credits for home purchase or construction, while private banks are expected to follow suit later in the year. Additionally, Banco Ciudad’s proposal includes terms similar to Banco Hipotecario’s but extended until 20 years with an annual nominal rate that drops from 5.5% down to 3.5%. On top of this, The National Bank is considering offering CER mortgages instead of UVA mortgages while also providing debtors against inflation exceeding income by activating insurance on fee-income ratio differences.
Lastly, structured cabling is being highlighted as a way for small businesses to improve their infrastructure and connectivity within their business environment by allowing seamless communication and data transfer between different systems which promotes efficiency and productivity.
