Mortgages In Brazil

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RalphJ

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That surprised me a bit. Thought I had read somewhere that the EEC is now Brazil's largest trade partner. Also remember financial analysts being optmistic about Brazil's economic growth for 2008 as it had "distanced itself from the dollar dependency" but I could be wrong.

Even if I'm right, the US is still a very significant trade partner.

The EEC? Is that a country?:)
 
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robh

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That's great that you used to be a consultant in the financial sector Rob but does that mean you know what is going to happen in world economies?? Sorry, but I think not. As I stated, not even the ministro de secretaria de fazenda, Guido Mantega, knows what will transpire in the financial industry in Brazil over the next 3-5 years...and if anyone is in a position to know, it certainly would be him. Will interest rates rise, or fall, by how much? Will the real strengthen or weaken? The dollar? The euro? By how much? Will banks begin to give more reasonable lines of credit and more creative ways to finance?

Those are all questions that no human on this planet can answer with any certainty in respect to the next 3-5 years at this moment, not in the U.S., not the U.K, and sure as hell not in a country like Brazil which has an economy much more unstable as those mentioned.

It does us no good to speculate about what will transpire in the next 3 years, because that's all it is, speculation. And if everything that has been rumored to have happened actually did here in Brazil since I moved here, we'd have 5% apr interest for 30 year mortgages, good infrastructure all throuhgout the country, 95% of the population would be receiving a quality education, and the death rate would be around 12-14 per 100K. Unfortunately, it just ain't the case.

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

New Member
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 !


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!
 
D

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!
THese have been very difficult times for sales in Brasil, due to the lack of a mortgage market. Constructor deals have normally been for Brasilians only. I have been in negotiations with a Brasilian bank here in Natal, and have a solution for our clients wishing to finance their purchase. It is being fine tuned at the moment. Not the most attractive deal, but it can be done for around a 5 year period on a 70% loan to value maximum advance. Interest rate will work out to be around 6%. I will try to answer queries by Private Message only.
 
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Dotty

Banned
I doubt it very much.What planet are you on another non experienced person,without being rude.
Rob, was not able to get hold of the bank manager today, and I am returning to the UK for Christmas tomorrow! At present the model looks like an interest rate of 8.5-9% apr.
 
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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.
 
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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.
 
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RalphJ

New Member
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!
 
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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.
 
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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.
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!
 
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Blc

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!
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
 
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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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