The Chamber of Developers of Nicaragua (Cadur) revealed, to the channel You TVwhich currently a private bank in the country is allowing its clients to include 50% per year of the remittances they receive as an additional income to the monthly salary received, to access a mortgage loan.
A source from Banco LaFise Bancentro told the team of Article 66 that the banking entity, in the event that a client requests a mortgage loan, will review their income from remittances. That percentage will depend on the history of each individual, which should have a continuity of at least two years.
He pointed out that each client must present to the bank all the necessary documentation about their income, be it a monthly salary, financial status of having a business or the remittances they receive.
Related news: Remittances sent to Nicaragua rise 45% from January to September 2022
Meanwhile, Félix Baltodano, president of Cadur, explained that “there is no established minimum range of income from remittances, but if 50% of the average of remittances received in the last year or the last 12 months is going to be taken into account, for To give an example, if a family receives US$200 a month is equivalent to US$2,400 a year, this means that an additional US$1,200 will be taken into account, which will be added to the salary they receive in order to apply for a house ».
Baltodano said that this bank policy is good news in the sector, because remittances in the country have been growing and the trend is that they will continue to do so.
He stressed that the potential client must demonstrate the frequency with which he receives remittances to the bank, as well as stability of monthly income.
In addition, the president of Cadur invited Nicaraguans to save their remittance support and, if possible, deposit it in a bank account, even if it is later withdrawn so that the movement of that money can be seen.
Currently, the requirements to access credit are a copy of the identity card, proof of salary, stub from the Nicaraguan Social Security Institute (INSS), bank account statement and credit card statement; if you have your own business, the financial statements of the business, registration with the mayor’s office, RUC number, among others.
Remittances to Nicaragua reach record figures in 2022
Last Friday, November 4, the Central Bank of Nicaragua reported that the Nicaraguan economy received a record 2,258.4 million dollars in family remittances between January and September of this year, 45% more than in the same period. of 2021.
In the accumulated to September 2022, Nicaraguans received 701.1 million dollars more than what was received in the first 9 months of 2021, when they added 1,557.3 million dollars in remittances, indicated the issuing bank of the State in a monthly report .
The 2,258.4 million dollars received as family remittances as of September represent 16.1% of Nicaragua’s gross domestic product (GDP).
