Secured Loans

The lifting or release of mortgage is the process you must follow to certify that you have paid all the scheduled installments of your loan and that your house or apartment is free of debt. With this certification, the restrictions generated by a mortgage on the property are no longer in effect.

Dear Client:Remember that through Superintendence Resolutions No. 252-2019/SUNAT and No. 098-2020/SUNAT, the Tax Administration designated as issuers of electronic payment vouchers the companies of the Financial System, for the product of Free Availability Loans with Mortgage Guarantee.

Collateralized loans

A home equity loan can be repaid in up to 60 months with the option of pledging your existing home as collateral. The maximum loan amount is US$ 100,000 or its equivalent in Soles or up to 60% of the value of your property. You can make extraordinary payments in July and December, so that you can reduce the value of your monthly payment and finish your payments as soon as possible. You can also include the financing of processing fees in your loan.

We lend you up to US$ 100,000 or its equivalent in Soles or 60% of the value of your property. You can pay extraordinary installments in July and December, so you can reduce the value of your monthly payment.

Loans secured by deeds

The first thing is not to confuse a mortgage loan with a deed-secured loan. In the first case, the amount of the loan is used for the purchase of a property, while in the case of a mortgage loan, the purpose of the amount borrowed does not necessarily have to be the purchase of a home.

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The loan with mortgage guarantee is a loan in which the client provides as a guarantee of payment of the operation a property in property; this means that the bank could execute its rights on this property in the event that the client does not comply with the commitments of payment of the loan.

That is why, the loan with mortgage guarantee, is usually a valid resource for those people who need financing regrouping their debts, to undertake a business, to pay the payment of a seizure or any reason to have economic solvency in the short term.

Unless you have indicated otherwise, we will keep your data for a period of 6 months. As soon as they are no longer required for the purposes described above, the data will be blocked for the period during which they may be necessary for the exercise or defense against administrative or legal actions and can only be unblocked and processed again for this reason. After this period, the data will be definitively deleted.

Mortgages on mortgages can be made

Since it does not have a specific tangible guarantee, as occurs in secured loans, and therefore presents a higher degree of risk for the lender, the applicable interest rate is usually higher.

It is worth highlighting the regulation of the right of withdrawal, which allows the consumer to cancel the contract concluded, provided that he notifies the lender within fourteen calendar days following the signing of the contract, without the need to indicate the reasons and without any penalty, and the lenders’ duty to provide information prior to the contract, in the format determined by the “European standardized information on consumer credit”, so that the consumer can compare the various offers existing on the market and thus make an informed decision.