Salary-linked loans coming to Argentina's mortgage market
Argentina's state controlled Banco Nación will next month launch a salary-linked mortgage loan product with the aim of increasing home ownership among the middle class.
The 20-year credit line will have a fixed annual interest rate of 14% in the first three years and a variable rate linked to the debtor's salary thereafter.
The main feature of the product is that the increase in the loan installment will never be larger than the salary increase, local daily La Nación reported the bank's CEO Carlos Melconian as saying.
The loan will finance up to 80% of the value of the property which must not exceed 2.5mn pesos (US$178,000). To make the new loan product as accessible as possible, borrowers will be allowed to include family members as co-debtors.
Nación expects to issue close to 21,000 of the new loan during the first year, according to the report.
Subscribe to the most trusted business intelligence platform in Latin America. Let us show you our solutions for Suppliers, Contractors, Operators, Government, Legal, Financial and Insurance.
News in: Political Risk & Macro (Argentina)
Wintershall DEA shifts focus on LatAm operations to Mexico
The company's attention is turning to Mexico and natural gas production, as it resets its strategy for Latin America, pulling out of Brazil and oth...
Argentina-IMF talks: For investors, it’s ‘logical to wait and see’
BNamericas talks to Argentine financial services analyst Marcelo Bastante about dealmaking, corporate finance and the country’s debt negotiations w...
Subscribe to Latin America’s most trusted business intelligence platform.
Other projects
Get key information on thousands of projects in Latin America, from current stage, to capex, related companies, key contacts and more.
- Project: Aroeira 7 wind farm (Aroeira wind complex)
- Current stage:
- Updated:
1 day ago
- Project: Aroeira 6 wind farm (Aroeira wind complex)
- Current stage:
- Updated:
1 day ago
- Project: Guatapurí Substation and Guatapurí Transmission Lines - Valledupar - San Juan
- Current stage:
- Updated:
2 days ago
- Project: Piedra Colgada photovoltaic solar plant
- Current stage:
- Updated:
2 days ago
- Project: Urraichi - Chemesky wind farm
- Current stage:
- Updated:
1 day ago
- Project: Aroeira 5 wind farm (Aroeira wind complex)
- Current stage:
- Updated:
1 day ago
- Project: Rajo Inca
- Current stage:
- Updated:
2 days ago
- Project: Aroeira 3 wind farm (Aroeira wind complex)
- Current stage:
- Updated:
2 days ago
- Project: New Central Military Hospital
- Current stage:
- Updated:
1 day ago
- Project: Aroeira 2 wind farm (Aroeira wind complex)
- Current stage:
- Updated:
2 days ago
Other companies
Get key information on thousands of companies in Latin America, from projects, to contacts, shareholders, related news and more.
- Company: Racional Engenharia Ltda. (Racional Engenharia)
-
Racional Engenharia Ltda. is a Brazilian engineering and construction firm founded in São Paulo in 1971 held by the Racional Group and directly controlled by Racional Participaç...
- Company: General Water S.A. (General Water)
-
General Water is a private Brazilian company aimed at the supply, treatment and reuse of water resources. General Water is specialized in the development, operation and maintena...
- Company: Consorcio PMTS Línea 3
- Company: Omdia
-
The English company Ovum Ltd., part of the Business Intelligence Division of Informa Group, is a consulting agency which helps its clients to evaluate opportunities, to measure ...
- Company: SACYR Construcción México S.A. de C.V. (SACYR Construcción México)
-
Sacyr Construcción de México S.A. de C.V. offers construction, concession and industrial services.
- Company: Ritz Instrument Transformers Inc. (RITZ USA)
-
RITZ is one of the world´s leading specialists for Instrument Transformers: Low and medium voltage insulated with epoxy resin, high voltage transformers insulated with oil/paper...
- Company: PNE AG (Pure New Energy)
- Company: One Communications Ltd. (One Communications)
-
The description included in this profile was taken directly from an official source and has not been modified or edited by the BNamericas’ researchers. However, it may have been...
Subscribe to the most trusted business intelligence platform in Latin America. Let us show you our solutions for Suppliers, Contractors, Operators, Government, Legal, Financial and Insurance.
