The price of everything has increased in the country, and now it's time for real estate financing installments. So who funded your immobile with the IPCA index between 2019 and 2020 is having a big surprise when paying the installments.
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This type of financing updates the amount of the outstanding balance according to inflation and savings profitability. The advantage of this was the low interest rate of 2.95% per year, and this was offered in traditional lines of credit. For those who would not have a very long installment plan, this was a good option.
But unfortunately for those who opted for this option, inflation soared, and as a result, the value of the installments was updated. There was still an increase in the Selic when the Central Bank tried to contain this price increase. And with the Selic above 8.5, the profitability of savings also increases.
Taking the example of financing a property worth R$500,000, with a down payment of R$200,000, at the time the contract is signed, the installment would be R$1,660. However, with the increase, the value would now reach R$ 1,958. Thus, an increase of more than R$ 300 can bring several losses to the financial life of families.
Two years ago, the inflation projection was more optimistic. In this current scenario, those who decided to finance a property ended up opting for the TR, which had a slight increase in the installment, but much smaller.
Those who bought the property off the plan and are still paying the INCC (National Construction Cost Index) have paid 1.49% more in the installment, according to May data.
To solve this problem, it is possible for the debtor to transfer his debt to another financial institution, opting for a better payment condition, but it is necessary to do a lot of research. With this, it is possible to move from an IPCA financing to a TR. This exchange was recently allowed, due to the flexibility of the banks.
So much so that, in recent months, this financing portability has increased significantly. Therefore, an interest rate of 12% can increase to 9% plus the TR. If we were to take into account a property worth R$950,000, in 16 years this change could lead to savings of R$380,000.
In the case of a contract with construction companies, the payment flow for the transaction of this debt can be spread over 5 to 10 years, and in a bank financing this time can increase to 35 years.
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