The use limit for real estate will be created as a guarantee for credit operations made at banking institutions by customers, and aims to own some high-value asset. How does this happen? It would be like a down payment on the requested financing so that there is a chance that the customer will pay for what was requested.
What this article covers:
What is this usage limit for real estate?
The use limit for real estate is simply a guarantee that the buyer will give, according to the value of his house or apartment, for example, to be able to pay the amounts requested in credit operations in which he will have a decrease in this sector
How can it serve to guarantee credit operations?
If a property has been given as collateral for a second credit operation, the amounts cannot exceed the value of the property, as would be the case for a house worth R$ 100,000, in which there will be the possibility of closing several credit operations until you hit this value. If there is any default, the Guarantee Management Institution (IG G) may advance the payment guarantee for all credit operations carried out.
There will be several IGGs in financial institutions, ranging from loans, real estate guarantees, and others aimed at people who have low incomes.
The government wants to create open warrants, which would be specifically a market for guarantees, in which customers would avoid paying a percentage of 4.5% to 5% of interest per month with unsecured loans, to offer some high-value asset, such as real estate or a cell phone.
Banks will be able to verify certain information through Open Banking, such as the case of any good already offered by the customer as guarantee for credit operations.
What is Open Banking?
It is simply a tool that encourages the quality of offers of products and other financial services to bank customers, who may or may not allow data sharing. Financial institutions have the main responsibility of protecting and keeping confidential all information shared by customers to Open Banking.