Congressman Ilich López, from the bench of popular actionpresented a bill to authorize the withdrawal of up to 100% of the funds from the AFPs for the acquisition of a living place. The initiative that was presented this Tuesday, May 23, provides for the release of funds for the payment of the initial fee and amortization of the mortgage credit.
“This law has the purpose of making the corresponding details to make use of up to 100% of the pension fund for the purpose of access decent and adequate housing“, reads the document presented.
Withdrawal of 100% AFP funds for home purchase: what would be the conditions?
According to the PL No. 5139, the affiliate You would have a time limit to make the purchase of the real estate because you cannot use the funds for other purposes. Thus, the contributors may have up to 100% to be used in the following cases:
- Pay the initial fee for the purchase of real estate as long as it is a mortgage loan granted by a financial system entity or a savings and credit cooperative.
- amortize a mortgage credit that has been used for the purchase of real estate granted by an entity of the financial system or a savings and credit cooperative.
- use it as warranty on the two points mentioned.
The aforementioned proposal qualifies as a financing alternative for members of the Private Pension System who wish to acquire real estate and not necessarily the first.
“A sector of the population that, in many cases, does not have sufficient resources to pay a high initial fee could see in its funds an alternative and use of investment capable of generating a return that may be beneficial” , It is justified.
AFP: How many affiliates withdrew their funds to purchase a home?
Let us remember that, in July 2016, Law No. 30478 came into force, which allows AFP affiliates to dispose of up to 25% of their accumulated fund in order to pay the initial installment or amortize the mortgage credit of your first property.
According to Superintendence of Banking, Insurance and AFP (SBS), in February 2023, close to 115,000 affiliates requested up to 25% of their AFPs to purchase a home. Of this total, most of the withdrawals were carried out by people between the ages of 36 and 45.
Source: Larepublica
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