Africa-Press – Angola. The National Bank of Angola (BNA) published Notice 9/2022 yesterday, authorizing commercial banks to constitute part of the mandatory reserves in financing, to raise levels of access to housing credit and promote the construction of residential properties.
The notice, published establishing the Special Housing Credit Scheme within the framework of this facility, emphasizes that eligible properties are only those built after 2012 and purchased directly from the developer of a housing project.
The deadline for applying for funding is between June 2022 and the end of May 2027, over the five-year period of validity of the Special Housing Credit Scheme.
According to the document, the credit granted under this regime must be the only one guaranteed by the property, and the contracting of other bank credits for its financing is not allowed, even under different conditions and in other commercial banks.
The notice reaffirms information already known, such as the interest rate being 7.0 percent, for loans of up to 100 million kwanzas (when there are two beneficiaries of the loan or one with sufficient guarantees) and up to 50 million (when there is only one beneficiary ).
After that, in the remuneration of the credit, a variable rate is adopted consisting of the reference interest of the interbank market at 30 days, revised monthly, and may be increased by a maximum margin of 1.0 percent, without exceeding the limit of seven percent. per year.
The loan’s maturity is 25 years, not exceeding 30 years in the event of credit restructuring, according to the document.
In the case of real estate developers of housing projects, the notice maintains the repayment period at three years and interest of 10 percent per year already mentioned when the project was presented on two occasions, last week, by the governor of the BNA, José de Lima. Massano.
Financing requests must coincide with the five-year term of this credit facility, between 2022 and 2027.
Developers are required to build projects that include houses of various types and values, as long as they are less than a maximum of 100 million kwanzas, as well as being companies incorporated under Angolan commercial legislation, having organized accounting and regular tax status. .
The BNA declares that it has prepared the notice to promote the construction of residential properties and conditions for bank customers to obtain housing loans compatible with the income earned.
It adds that it opted, as a way of compensating commercial banks for the interest rate subsidy offered to customers, by deducting the financed amounts from mandatory reserves, enabling the profitability of these funds.
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