Mortgages In Brazil

[michaelbush]

Yes I am really worried aboout flights! But that is another subject. I opened this thread after I was assured by one of the larger banks that their finance plan could be marketed to foreigners. On the face of it and working out the true rate, it looked like around 8-9% pa. over five years. However they failed to explain that the banks like to increase the repayments in line with the rate for Poupança accounts, and this would result in an increase of around 6% per year.(0.5% per month). In the final year the repayments would therefore be some 30% higher than the first payment! It appears here that Brasilians just accept it as normal, or perhaps they cannot do the sums. The bank manager tried to brush it off as just a small difference each month that foreigners could easily afford. He was also unaware of the mortgage system in Europe, and had no concept of calculating APR or AER for loans.

[RalphJ]

Originally Posted by Dotty

I doubt it very much.What planet are you on another non experienced person,without being rude.

Dotty;

Builders today in Brazil do offer short term loans, around 5 years, at anywhere from 6% to 9% per year to those that qualify. And yes, you have to show proof of income.....in Brazil!

[michaelbush]

I have also tried a number of banks and they all seem to use a similar system that I am sure would not be legal in Europe, or would be subject to numerous mis-selling claims. We can only hope it changes, meanwhile, invest in the banks in Brasil!! They make loads of money and give probably the worst service.

[Dotty]

And for those who qualify also have to pay other taxes on top which amounts to about 26% per yr and high juros cost per day for late payments.So do not mis -advise that is incorrect.

Originally Posted by RalphJ

Dotty;

Builders today in Brazil do offer short term loans, around 5 years, at anywhere from 6% to 9% per year to those that qualify. And yes, you have to show proof of income.....in Brazil!

[Blc]

Originally Posted by RalphJ

Dotty;

Builders today in Brazil do offer short term loans, around 5 years, at anywhere from 6% to 9% per year to those that qualify. And yes, you have to show proof of income.....in Brazil!

We work with some of the developers in Fortaleza and offer finance direct from the developer to non residenrts.

0% during construction 36 months 1% after up to 100 months because we have a good relationship with the developer we can offer this without credit checks or
proof of income.

We offer off plan apartments with no deposit only monthly payments from 400 euros down.

This is the way Brazilians invest low payments during construction 0% and sell flip before completion.

There is finance available to non residents and no nead to pay50% during build to european developers who use your money to build.

All this give grater return on investment.

Finace is available you just need to search

BLC

[Brazilinvestments]

BLC <-- can you refer to any projects that have these payments plans? As I would be interested in deals like that.