Raúl Lozano does not believe it is necessary to merge the BHU and the BROU

The Minister of Housing, Raúl Lozano, explained this Friday his perception of the scope of the bill promoted by the Executive Power to provide a solution to debtors in readjustable units that face difficulties before the Mortgage Bank of Uruguay (BHU).

“This new project brings the particularity that those who paid and since they took out the credit, 40 years have passed, stop paying the debt completely. Those who between 30 and 39 years of age began to pay, until they reach 40 years of age they pay a 0% interest rate, when they reach 40 years of age they also stop paying completely and those who are less than 30 years of age, since they obtained the credit, they pay interest of 2.5%,” said the minister.

“We understand that it gives many benefits to thousands and thousands of families that contracted a debt and that in the end, with the passing of time, they paid two or three times for the house and continue to have debts,” added the chief (and member of the Cabildo Abierto party) on the project that is being analyzed in Parliament.

Doesn’t see merge as necessary

Debtors in readjustable units are those who have acquired mortgage loans in which the value of the installments is adjusted periodically according to an established index. These debtors face difficulties, since the adjustments in installments can generate a considerable increase in the amount to be paid, thus making it difficult to meet financial obligations.

On the proposal to merge Banco Hipotecario del Uruguay (BHU) and Banco República (BROU), he assessed that, for him, “merger is not necessary.”