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Mortgages In Brazil

Discussion in 'Brazil Property' started by michaelbush, Dec 18, 2007.

  1. RalphJ

    RalphJ New Member


    The EEC? Is that a country?:)
     
  2. robh

    robh Administrator Staff Member Premium Member


    I don't think I talking about the economy I was talking about what at least a few of the major banks are planning.
     
  3. JMBroad

    JMBroad New Member

    Haha no, but it is considered a "trading partner" :D
     
  4. GUAPITO

    GUAPITO New Member

    And what's the use of watitting for an RNE

    Hi there,

    I don't get why the offiicial position of "all" Brazilian bank here is to refuse you opening of a personal account without you presenting them your "plastic" RNE :)

    First, If I'm a foreigner willing to deal in some illegal markets in Brasil, having a "final RNE" won't stop me from leaving through the closest borderline the day I want to emptying my Bank account before...

    Second, does the fact of having a legal Brasilian ID stops Brazilians escrow from robing ???
    Did that ever work in any country in the world ?

    Third, how come the same Bank who accepted your Money as a Foreign investor won't give you credit to have your personal own Bank account opened with them ?
    There are ways not to let people feel like a milk-cow !

    ...Finaly, talking about RNE, things DID Change, just look at my business partner (married to a Brazilian) he applied for the RNE and recetly received it ! (after 8 yrs waitting)
    ... now everyone is expecting delays of "only" 2 years !

    Someone at the P.F. told me that the RNE machine in Brasilia was broken and that's why everything delayed so much...

    One would think, why don't they ask to the same guys who make our Brazilian CPF cards ?
    Those are delivered to your door in just 60 days !

    In a great country able to make Cars and Planes, noones knows how to fix a plastic card machines ? come on...

    Abraços, from the Land of Social Equality !
     
  5. michaelbush

    michaelbush New Member

    I do not know what bank you are trying to open an account with. However I am in Natal, got my residents visa more than a year ago- opened the bank account with a paper certidão from the Policia Federal. A year later with no card, I had to go there again as the certidão was only valid for 180 days and had run out. They kindly gave me a previsoria paper identity card, which I will have to plastify if I will have to wait another year for the official card!
    But I do agree - I am told it is the banks policy not the law that prevents people opening private accounts. There must be security checks they can do to ensure the money arriving is legal. Even now, with any transfer I have to prove it is tax paid etc!
     
  6. RalphJ

    RalphJ New Member



    LOL....you're right! The machine that makes RNE cards was broken!! One of my best friends, a portuguese investor, was told the exact same thing! He just recieved his RNE card, permanent visa, after 22 months of waiting. I've NEVER heard of anything like eight years! It normally is around two. I received mine in 18 months but only because my ex, who works for the federal gov't, went to Brasilia and checked up on it.

    The problem with bank accounts for foreigners is one of money laundering. Today banco central makes ALL banks that open "C5" accounts adhere to very strict reporting methods for every single transaction from one of these types of accounts. Instead of doing that, they prefer not to open them at all. Matter of fact, two years ago, when banco central changed these reporting requirements, many banks that had these types of accounts closed them!
     
  7. Dotty

    Dotty Banned

    what do you know??

    6% and all the taxes which will amount to about 23%.What planet are you on plus one late payment and phenominal juros too!
     
  8. Dotty

    Dotty Banned

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

    nickohorny New Member

    Like you, he lives in Brazil...
     
  10. JMBroad

    JMBroad New Member

    And by his post "I am returning to the UK for Christmas" - that post must be either around 4 months old or he's really worried about flight delays.
     
  11. michaelbush

    michaelbush New Member

    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.
     
  12. RalphJ

    RalphJ New Member



    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!
     
  13. michaelbush

    michaelbush New Member

    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.
     
  14. Dotty

    Dotty Banned

    qualify

    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.
     
  15. Blc

    Blc New Member

    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
     
  16. Brazilinvestments

    Brazilinvestments New Member

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