After commercial mortgage banking ended 2020 with a placement similar to that of 2019, the challenge for this year is to offer more loans, and give access to more people who are not being served today, highlighted the Coordinator of the Mortgage Committee of the Association of Banks of Mexico (ABM), Enrique Margain Pitman.
In an interview with Grupo En Concreto #EnConcretoContigo, He highlighted that almost the same amount was placed last year, but there were fewer loans, so today the challenge is to offer more financing to give access to more people who today are not requesting a loan with commercial banks.
Said a better scenario is observed than in 2020, depending on the fact that what was built there isNew products, such as Unamos Credits, are coming forward, while in the second or third quarter of the year an Infonavit Account is expected, which will allow the use of the subaccount balance of those who are no longer listed on Infonavit.
He anticipated that products for the mixed economy will also be launched, with the aim of consider the part of those who cannot prove income from receiving cash, for example, those who work in the tourism sector.
The also Executive Director of HSBC Mortgage & Immediate Credit highlighted that mortgage loans have been becoming more flexible and remodeling loans and payment of liabilities have been the fastest growing.
He explained that in the case of Payment of liabilities, it is for those who have a loan and whose rate is higher than the current ones, above 9.5 to 10 percent, so there is an opportunity for them to transfer their credit to another institution.
With this they can reduce the rate and thereby reduce the monthly payment of the credit, pay less interest, which is an important structure in the family economy, given the situation we are experiencing due to the Covid pandemic, since the enforceability of the debt could be reduced by up to 40 percent, which gives more room to family spending.
Margain Pitman pointed out that it can also be accompanied with liquidity lines of credit, “If I transfer my mortgage and I have space to hire an additional line to consolidate liabilities” with which they send their short-term debt to the long-term and at a higher rate to a lower
He emphasized that today, commercial banking has a solution from a financial point of view for any need, for example credit for remodeling, given the need to adapt spaces due to quarantine.
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