The return of mortgage credit in Argentina has been confirmed in recent days. The Santander Bank announced the relaunch of its line of home loans with a fee tied to inflation on Friday. This move completes a grid that includes public and private capital banks. The official launch of the Santander line is scheduled for May 27, but as of Friday, bank clients can verify if they meet the requirements and calculate the value of the fee on the entity’s website.
The Santander line offers loans for a term of up to 240 months, with an adjustable fee per CER plus a rate of 5.5% annually. The loans are available to those who have “at least one month” of assets in the bank, with the first installment for every 10 million pesos taken being $68,789. The fee will increase adjusted by the value of the UVA each month. These credits can be used for the purchase of a home, for both permanent and non-permanent use.
The bank proposes to finance up to 75% of the property for a first home and up to 50% for a non-permanent home. The relationship between the credit installment and the applicant’s income may be up to 25%, with the minimum income required to access the line set at $850 thousand. There is no limit for this type of loan.
After experiencing a decline in UVA mortgage loans in Argentina, the recent announcements by various banks have generated increased interest and queries. Santander’s offering joins five other financial entities in providing long-term financing with a variable fee linked to inflation expectations. The goal is to make the possibility of owning a home a reality for families in Argentina.