Questions on the hypothecating loan
Which the affiliate must know on the hypothecating loan that it offers the IESS. We give five new questions:
1 If at the moment I have a hypothecating credit with a financial institution, I can transfer that debt to the IESS?
The law of Social Security explicitly does not contemplate it. Nevertheless, the IESS will give hypothecating credit to all the insured who satisfy the requirements of the same, within which has not delimited the nature of the salesman who can be a natural or legal person.
2 If the property that desire to acquire is estimated in USD 14 thousands I can accede to a loan of the IESS?
No. The approved regulation does not allow to credits for houses with a estimate inferior to USD 15 thousands.
3 Of what the loan for legal aspects of the hypothecating loan consists?
The loan for legal expenses is optional. Will be granted it in case it asks for it to the insured and will be addition to the hypothecating loan during the term of the same and will be received it with the monthly payment to the same agreed interest rate.
4 What covers the loan for legal aspects with the hypothecating credit?
The optional loan for legal aspects covers the costs regarding the structuring with legal documents of the loan, among others contemplates: estimate, notarial constitution of guarantees, rights, registry of the property, alcabalas, mortgage, expenses of amanuensis, advisory lawyer, between the main ones.
5 There is some type of house that the IESS especially considers for their credits or agreements with constructors?
The insured is free to choose the finished house of his election. The IESS has not signed any agreement with constructors or recommends a type of house for the credit. The unique limitation is that the house must be in the urban area of any part of the Ecuadorian territory.
