The New Credit Mivivienda, launched in June this year, recorded 1.378 credits placed to the month of November, amounting to 100 million soles 729.786, and encourages strong competition in the mortgage market.

"It has generated considerable competition between banks, allowing us to envision that this new product will continue their upward trend in the coming months," said general manager Mivivienda Fund, Julio Cardenas.

At the level of investments, the Banco de Credito del Peru (BCP) leads the ranking with 713 Credits (45.36 million soles), winning 51.7 percent stake.

It is followed by BBVA Banco Continental 180 Credits (16.54 million soles) and 13.1 percent of the total 139 credits Interbank (12.21 million), representing 10.1 percent, and placed Financial Bank 108 credits (8.8 million ) with 7.8 percent.

A second group is located Development Company of Micro and Small Enterprises (Edpyme) MiCasita with 88 credits, Scotiabank (62 credits) and TFC Financial (58 credits).

It also stressed the participation of the Caja Municipal de Ahorro y Credito (CMAC) Ica, CMAC Huancayo, the Bank of Commerce, and Mortgage Incasa, among other institutions.

In November alone there have been 362 loans of credit, which demonstrates that might exceed 400 credits in December with an upward trend in 2010.

"The expectation for next year is to place 1.000 credits per month, which commits us to continue working for most Peruvian families achieve the dream of home ownership," noted Cardenas.

These figures of the New Credit Mivivienda, do not consider the results obtained by the former Credit Mivivienda, which covers the standard credit, credit risk coverage - Good Payer Award (PBP) and the project MiHogar, totaling 1.762 credits.

However, in terms of management of 3.140 credits is reached so far in 2009.

The new loan offers a number of attributes to the families who still have their own house because the interest rate includes concepts such as anchoring, the PBP and Credit Risk Insurance.

The loan is aimed at a well finished, under construction or future.

The value of the home must be greater than 14 Tax Units (UIT), equivalent to 49.700 soles, and a maximum of 50 ITU (less than or equal to 177.500 soles).

Another feature of the new product is that the loans are fixed rate and soles.

The original has a minimum of ten percent of the value of the property, reimbursements are 12 to 14 payments a year and prepayments can be made in coordination with the financial institution.

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