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Next, we display a information of credits banking and an introduction to contracts.
 
 
   
A mortgage loan, what is it?

It is a personal loan granted for the purchase, enlargement or renewal of a property with mortgage guarantees. For instrumenting the loan, a mortgage is constituted in favor of the Bank or creditor on an applicant’s property, or a property to be purchased as a result of credit operation. A mortgage is a guarantee real right, by which a property is taken as safeguard for the operation. This property may remain in the hands of the mortgagee or the mortgagor.

Credit analysis

Mortgages have a several step process:

a) Credit analysis. It is related to credit evaluation on behalf of the financial entity, of the documentation an payment ability of the applicant and the property.

The entity took into consideration the maximum financeable percentage for the property to be purchased. Different entities have different positions. The advance payment usually cannot be over 30% of family salaries.

b) Operation approval. It implies bank acceptance of credit risk.

c) Payment upon notarized deed (buyer and seller) and mortgage (buyer/mortgagor and the bank financing the operation).

d) Loan monthly payments. Mortgage discharge upon total loan payment.


More information

TheCreditCompany.com
http://www.thecreditcompany.com

BBVA Banco Francés
http://www.bancofrances.com.ar

Banco Rio
http://www.bancorio.com.ar

Banco Galicia
http://www.e-galicia.com

Citibank N.A. Argentina
https://www.latam.citibank.com/argentina/application

Bank Boston
http://www.bankboston.com.ar

 
 
 
CONTRACTS
Our contracts are prepared in accordance to rental law in force in our country, and following rules from Embassies and companies working in our country.

PROPERTY SELECTION
After your first contact, you will receive a call from our representatives to find out about the area, facilities and type of house, shop, or office you are looking for.

We will arrange a meeting to see different properties according to our demand, accompanied by the same representative who first contacted you, for a better personal relationship.

You will have an area plan where the properties visited will be marked, and a technical file for each one.

NEGOTIATIONS
Once you have selected a property, you will make a check reservation payment. Usually, it will be worth a rental month. Should this reservation not be accepted by the owner, your check will be immediately reimbursed.

CONTRACT DURATION
Legally, the minimum contract period for rentals is two years and three years for business contracts. For temporary contracts, its duration varies from one to six months.

DEPOSIT
The law establishes a maximum of a month rental for each contract year. In the case of temporary contracts, the deposit is made according to the contract period and the property characteristics.

GUARANTORS
Rental contracts always require a guarantor. In most cases regarding companies, a company executive appears as tenant, and the company guarants the contract. In the case of Embassies and some companies, they appear as tenants, without need of a guarantor.

RENTAL EXPENSES
In addition to rental payment agreed, normally the TENANT will have to pay telephone, electricity, water, and gas services; municipal tax, cable TV, and surveillance service. Property tax (Rentas) will be on the owner’s account.

CONTRACT SAMPLE
Should you wish to have a sample of a contract type used in Argentina, you can send your requirement to our e-mail box, and we will send it to you immediately. This contract can be subject to special items agreed between the TENANT and the LANDLORD, should them not be contrary to the present rental law.

 
 
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