On behalf of the high inflation In recent months, debtors who have their loans tied to the Real Value Unit (UVR) are seeing themselves more exposed to risks and although of the total housing portfolio, the one denominated in UVR weighs 19%, its impact continues to be be important because it amounts to $13.41 billion.
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The reason why housing debtors in UVR credit face more risks is because as this indicator is a unit of account that reflects the purchasing power of the currency based on the variation of the consumer price index (CPI), balance of credit is increased.
The UVR is certified by the Banco de la República and is used to calculate the cost of housing loans that allows financial entities maintain the purchasing power of borrowed money.
The Financial Superintendence draws attention to the credit risk because “inflationary pressures would impact housing portfolio debtors exposed to UVR, however, this denomination represents 17.6% of the portfolio balance of housing. Not to mention that high inflation expectations can have a negative impact on households’ intention to purchase new and used homes”.
As of March, the current total housing portfolio was $69 billion, of which in UVR it was $13.41 billion and in pesos of $55.87 billion.
For its part, the weighted delinquency in UVR loans was 8.3%, with a significant decrease since the 9.4% of the same month of 2021while the indicator for loans in pesos was 5.1% compared to 6% a year ago.
For Edgar Jiménez, from the Financial Laboratory of the Jorge Tadeo Lozano University, there is a drop in arrears in payments of more than 30 days, but the gap between credits in UVR and pesos remains.
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The academic suggests taking credit in pesos, because although in scenarios of low inflation those who opt for the UVR do not feel much impact, at a time like the present they are affected, recognizing that the entities that give housing credit require more conditions to those who grant loans at a fixed rate in pesos.
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