LIVE | Deputies resume the debate in commission for UVA credits

Almost a month after the first informative meeting, a plenary session of the Finance and Budget and Treasury commissions of the Chamber of Deputies resumes the debate on UVA mortgage loans.

The joint meeting of the commissions chaired by the ruling party Alicia Aparicio and Carlos Heller It will be the second for informational purposes, since specialists and representatives of credit takers were invited.

The president of the Finance Commission had advanced in the plenary on June 1 that it was agreed to carry out two informative meetings, with the presence of specialists and representatives of credit takers, and a discussion meeting.

How were the previous briefings?

In the previous meetings, experts and tenant representatives were present.

Mary Louise Schwabrepresentative of the “Colectivo UVA” Tandil, province of Buenos Aires, asked to “stop indexing”, stating: “We cannot be captives of this system that benefits banks and disadvantages families”.

Later, Ivan Kerr, former Undersecretary of Housing and Urban Development of the Nation and former president of ProCreAr during the presidency of Mauricio Macri, said: “I believe that mortgage credit should continue to be a tool of housing policy.” And he added: “We present a bill for the creation of symmetric compensation, that is, those who take UVA mortgage loans pay their fee in an index adjusted for salary.”

Meanwhile, in his role as a member of the National Collective of Self-Summoned UVA Mortgage Credits, Paola Gutierrez considered that “it is the banks that must bear the costs of restructuring these credits.” “We don’t want to lose our houses, but rather pay fair mortgages,” he exclaimed.

A on turn, Gaston Rinaldonia member of the Mendoza UVA Mortgage Collective, stressed that “it is necessary to review interest rates and that they be predictable, that they provide legal certainty and that they give dignity to access the human right to housing.”

On the other hand, Maria Isabella Iasala, representative of credit takers spoke on behalf of “400,000 families affected by pledge and personal loans” and emphasized: “All families were affected and their rights to work and live with dignity were violated.” “This system pushed us into poverty,” he remarked.

About UVA credits

Los UVA credits they consist of a loan in pesos adjustable by the Reference Stabilization Coefficient (CER) -which reflects the evolution of the consumer price index- and which is expressed in Purchasing Value Units (UVA).

It is estimated that currently there are 120,000 families that have these loans expressed in UVA that, when they were implemented, had a much lower fee than a traditional loan.

This credit system was created in 2016 as a mechanism to “save on bricks”. At that time, the fee in general did not exceed the amount of a rent and that excited many families who sought access to a UVA loan, but since 2018, with the increase in inflation, these fees began to suffer sharp increases.