Mortgage loans approved for Peruvians living in the US and Spain

Enrique Cornejo, Peru’s Housing Minister

(LIP-ir) — Peru’s Housing Ministry announced this year that Peruvians living and working in other countries would be approved for mortgage loans and could purchase a home in their name, not needing the help of someone that lives in the country.

The first loan was approved yesterday to Elizabeth Alicia Tames Aponte, a Peruvian woman that has been living in Madrid, Spain since 2004.

Tames Aponte purchased her home through the Mi Hogar program and was given the loan by Mi Banco.

Elizabeth was presented with her loan by Enrique Cornejo, the country’s housing minister in a special ceremony.

Cornejo pointed out that this was an important opportunity for Peruvians living abroad, stating that now they could purchase a home in their country without an intermediator.

The Andean country’s housing minister explained that in the past it was difficult for expats to get a loan and that if one was approved, the property purchased would appear in someone else’s name, something that was not convenient for the person purchasing the home.

Oscar Rivera, the president of Mi Banco announced that people were being qualified and loans were being approved in bank branches in the US and Spain.

He stated these countries had been chosen because of the high amount of remittances received from Spain and the US.

Remittances to Peru increased 234.7 percent to over $3.1 billion from 2001 to 2006.