Apr
02
Two Decades Post Crisis, Colombia Looks to Boost Home Loans
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Housing Minister says 70% loan-to-value limit too restrictive
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Home prices have surged, leading some to issue bubble warnings
Colombia’s Housing Ministry is calling on lenders to ease conservative mortgage lending requirements to allow more people to buy a home, and revive a market that still hasn’t recovered from a crisis two decades ago.
Housing Minister Elsa Noguera said that with mortgage lending levels that are modest by regional standards, and low default rates, Colombia can now afford to relax rules that were introduced after a financial crisis at the end of the 1990s. Noguera said she has held talks with the nation’s banking association to urge them to boost the maximum loan-to-value rate for home loans to 80 percent, from 70 percent…
Two Decades Post Crisis, Colombia Looks to Boost Home Loans
