A survey conducted among 25,000 properties that were verified by the banks, at the time of being accepted as collateral (before granting a loan), showed that 30% of those properties “do not pass” the domain report. That is, that percentage of property carries one or several irregularities such as mortgages, foreclosures, housing protection (family property), are sold, have no proper ownership, or are under usufruct of other people, among other issues.
This is demonstrated by a survey conducted by the consultancy Serinco, specializing in credit risk, which is in charge of verifying for the banks that the properties presented by the potential borrowers are in order.
The survey was conducted throughout the country from January 1, 2018 until the end of April 2019. From there it appears that 30% of the property has some type of restriction and / or tax. At the extremes of that average, Chubut and Salta are the provinces with the highest indicators (42.27% and 37% respectively), while San Juan (24.6%) and Entre Rios (25.53%) are those with the least amount of buildings with restrictions.
According to the general data of the report, there were verified in that period, 25,332 properties, of which, 7620 had some type of inhibition to be used as collateral.
The bulk of the units that do not qualify for the loans were those with a current mortgage (29.6% of cases). 21.39% was under usufruct. This is when the owner can not dispose of the property because there is another person making use of the property. In addition, 16.31% were registered as “family property”, 12.8% had problems with ownership (trout deeds) and 8.8% had a current embargo, among other irregularities.
According to Pablo Ibarra, de Serinco, “in recent years, this ratio has been growing significantly as the economic situation and default grows, in periods of stability or economic growth, the average value of securities (guarantees) with Some kind of restriction is around 20%, “he said.
The analyst said that inhibitions are triggered by economic turbulence, for example, when mortgages break out in the market, as happened last year with UVA credits. “Suddenly, the mass grows because there are many mortgaged properties that come from different times, although they do not originate now,” he explained.
In addition, from the experience of these verifications that the firm does for the banks, another data arises: of the 70% of the real estate that is “good”, that is apt to officiate as a guarantee, the 10% “falls”, that is to say happens to have some irregularity, after a year. “This is seen because banks check once a year the status of guarantees,” said the executive of Serinco.