Future FGTS will probably be used to finance actual property; see the way it will work

Rogério Melo / PR – 9.16.15

The Casa Verde e Amarela program will obtain a lift

The federal government intends to authorize on the eve of the election using the long run FGTS – a forecast of the signifies that the worker with a proper contract can have with the Fund if he continues to be employed – to finance actual property, the federal authorities’s Casa Verde e Amarela program, which targets the low-income inhabitants.

The objective is to make use of the deposits that will probably be paid by the employer to the FGTS account to calculate the revenue of people that need to purchase their very own house. Quantities are blocked to repay this mortgage.

Clearly, the FGTS deposit can’t be thought of revenue. However how can I improve the revenue capability of my households? When the financial institution realizes that it has yet another part along with regular revenue, ”mentioned the nation’s housing secretary. Ministry of Regional Growth (MDR), Alfredo dos Santos.

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A household incomes, for instance, 2,000 BRL, allocates a median of twenty-two% of this revenue to finance a flat and can have the ability to pay 440 BRL. Utilizing the long run FGTS, it may pay BRL 600, making an allowance for the 8% contribution to the FGTS, amounting to BRL 160 per thirty days.

For the specialist José Urbano Duarte, the involvement of a future FGTS might be problematic. “An FGTS cargo can create buying energy that a person won’t have to accumulate,” Duarte mentioned. “And whoever commits to the FGTS in installments won’t ever accumulate an quantity to attempt to anticipate a layoff.”

The measure is a response to a request from building firms which have giant inventories of actual property. Within the interval from January to July this yr. 145,200 flats had been contracted below the Casa Verde e Amarela program, 17.6% lower than in the identical interval in 2021, when 176,200 contracts had been signed. This system is principally operated by Caixa.

Dismissal will increase the price

Within the occasion of dismissal after buying actual property with the long run use of the FGTS, the borrower must pay your complete installment or lose the property. Within the instance above, you’ll have to pay an installment of 600 BRL, not 440 BRL earlier than being launched.

“The consumer says“ I need to mortgage my future deposits ”and the financial institution will analyze it. Suppose this can be a conventional buyer who has a job. There is no such thing as a exercise, will you pay R $ 440? Not. what’s the distinction between 440 and 600 reais?

Duarte explains that the identical MEP will authorize the restart of Fundo Garantidor da Habitação Standard to cowl an insolvency within the occasion of unemployment if the policyholder decides to take out insurance coverage. This fund was established in 2009 because of contributions from Union, Caixa and Banco do Brasil.

In 2016, the fund achieved its objective of buying two million properties and needed to droop new operations. With R $ 2 billion in money, R $ 800 million can be utilized in new contracts, with or with out the FGTS assure.

The draft ministry decision must be mentioned on the FGTS Belief Council technical group assembly subsequent week.

In line with Caixa technicians, the thought is to concentrate on the decrease layers of this system, as much as 4800 reais. Use of the FGTS should be legitimate for lower than ten years. The argument is that the default is greater in the beginning of the contract.

Along with activating the assure fund, the property itself serves as safety for the mortgage. Within the occasion of failure to adjust to the contract, the home will be taken away. The employee could be with no house and with out the Fund, a FGTS adviser warned.

The results of this yr’s program is the worst within the Bolsonaro authorities, which had 180,500 funding from January to July 2020; in 2019, there have been 181,300 contracts.

The thought of ​​the federal government is to permit quota holders to supply to banks, once they take out a mortgage, deposits that will probably be deposited of their Fund account for installment deduction.

The authorization to make use of the long run FGTS is included within the non permanent measure (MP) 1107, which created a digital microcredit for micro-entrepreneurs. It entered into power on the finish of August. The usage of the long run FGTS was included in parliament throughout a Congressional trial on the request of the federal government itself, to fulfill the wants of building firms. The measure is already in power, solely the decision stays.

In line with the MDR secretary, the regulation remains to be being drafted and will probably be submitted to the FGTS Board of Trustees, the place the federal government has a majority. He envisaged that the rule shouldn’t dictate a deadline for using future FGTS in financing housing.

“It can rely upon how a lot the worker has to decide to the FGTS. The assure can final 4 years, six years, ”mentioned Santos, including that one of many principal objectives is to extend the wage capability of households.

In line with him, it’s estimated that the measure could result in the lease of 80 thousand. items, along with this yr’s goal of 330 thousand.

Too dangerous for the worker

Those that select this new methodology have their future deposits blocked for a sure interval. Deposits will probably be withheld within the occasion of launch. However installments could also be included within the debt stability if the borrower is unable to pay them.

Beneath the Casa Verde e Amarela program, workers can withhold their installments for as much as six months in the event that they change into unemployed. The 40% penalty for unfair dismissal continues to be utilized to the Fund’s stability, even when it has been damaged down into installments.

In line with the secretary, out of each ten job functions, 5 are authorized, two are rejected, and three are unable to pay. Half of them are serviced by building firms, and the remainder are unable to acquire financing. That is the federal government’s target market.

Households taking part within the Casa Verde and Amarela program earn between 2,400 and eight,000 reais. For the decrease revenue group, the FGTS offers a grant, a non-refundable low cost on buy of the property of as much as R $ 47,500.

The brand new modality is controversial and already divides the members of the Trusteeship Council. In line with one of many interviewees, this will likely hurt an worker in the mean time of the best want. Nonetheless, it favors the development sector, which complains of excessive stock ranges, with a rise in property values ​​and a decline in household revenue.

The technique is to check with Casa Verde and Amarela, and sooner or later to broaden to different strains with FGTS sources, the secretary mentioned.

José Carlos Martins, President of the Brazilian Chamber of Development Trade (CBIC), defended this answer. In his view, the proposal facilitates entry to credit score for low-income households and avoids using FGTS in emergencies, which merely serves to “stimulate consumption”: belongings to meet the dream of proudly owning a house.

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