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Banks frustrate the plan of the Board to relieve the 'stock' of housing in the province (south)

Of the thirteen thousand floors are expected to sell out just 200, according to promoters, lack of support from financial institutions

28.03.2011 -

ALMUDENA NOGUÉS

MÁLAGA.

The bulging portfolio of flats seized together with credit checks makes entities not meeting agreed in the initial protocol of the plan. : : SUR

Failure all. And in capital letters. The plan announced with fanfare by the Board to dispose of the large 'stock' house ended up being a fiasco, as critical of both the promoters and the Andalusian government itself, because of the lack of cooperation offered by financial institutions' who have acted as a bottleneck. " The initiative, which last year raised great expectations among the entrepreneurs of brick, which saw it as an escape valve, it has not given the desired results in the province, where initially it was estimated that could boost the sale of up to 13,000 properties. The reality, however, was much more stark: "We've just got to output at 200 floors, "says the president of the Associated Builders and Developers, Pepe Prado, without hiding his disappointment with the poor results achieved. The

dubbed Impulse Measure and Access to Housing was launched mid January 2010 with attractive fruit playing a three-way agreement between the regional government, developers and banks. Each of the legs of this tripod and assumed certain obligations, the Board undertook to provide a loan of between 9,000 and 15,000 euros to the buyer to avoid the payment of the entry (representing an average saving of 40% on the mortgage for the first eight years), while the developer was provide property-listed on the site www.tuviviendaenandalucia.es-priced mortgage with a maximum cost of 245,000 euros, which resulted in a reduction of at least 20%.

far, as highlighted by the parties, the plan has been fulfilled. The stumbling block is generated with the third pillar of the program (entities) whose role was vital to the program could work. Under the agreement, the banks and thirty who had expressed explicit support for the initiative were to facilitate access to finance by providing loans for 100% of the value of the mortgage, without an admission fee (only VAT) offering three-year grace period, which involved the payment to relieve half those years.

The theory was promising. But the practice has been quite different. In fact, the billion reserved for this action, the Board has only had to spend last twenty. "The plan was well designed but the bottleneck has prevented institutions operate," acknowledges the provincial delegate for Public Works and Housing, Enrique Benitez, who blames the position of banks to the economic situation. "The banks have been subjected to a stringent credit controls have forced them to curb credit to reduce property risk, which has closed the doors to new business." "And if the claim the program is lame" adds.

The tap fully closed

coordinator of the Association in Andalusia user banks, and insurance (Adicae), Carmen Gutierrez, denunciation that institutions have closed the tap and that only authorized transactions of homes that have foreclosed, to what requires government intervention. "What is not acceptable is that they have helped them keep liquidity and families without access to a mortgage. The plan of the Board is not yet fully understood because the promises are on one side and the other market realities', denunciation.

The promoters explain that, beyond the calculations the Board, the hope was to sell around a thousand stories. "We were very excited but it has been no lack of enthusiasm for our nor compliance by the Board, the banks are those who have not complied with the signed" he said while recalling that while not free 'stock ', can not re-build, which will not reactivate the wheel, "says Prado.

In the same line, says the director of the Real Estate Chair of Corporate Practice Institute, José Antonio Pérez, who brings to the table the need to sell the apartments built to return "to start the machinery." "This is essential to make serious study, classifying the 'stock' and make a plan tailored to each product, "and that each must have its own strategy, argues.