Learn how the consortium letter of credit works


The consortium is the ideal alternative for those seeking to realize their goals and ensure a peaceful future. When the consortium member is contemplated, it receives the contracted amount from the administrator. Learn more about how it works and what are the benefits of credit.


What is consortium credit?

loan credit

After contemplation, the credit of the consortium member is available for use according to the modality consortium, whether for the acquisition of the property, renovation or construction. In addition, the plots are updated annually according to the INCC, an index that monitors the variation in the cost of housing construction in the country, so the customer maintains his purchasing power.


What is the advantage?

The main advantage is the security of the transaction as only the consortium holder can use the credit. In addition, with the available value, the consortium has purchasing power in cash , making it possible to negotiate great discounts directly with the owner or the builder , and it is common to offer more attractive prices when the payment is made without installment.


How does contemplation work?

credit advantage?

The contemplation can be done through the Federal Lottery draws or throws made by the consortium member. Bids are offered when the person wishes, either free or fixed, and if the bid wins, there are still some options for amortizing the remaining amount. This way the credit is released.


How to use the letter of credit?

The letter of credit is used according to the contracted amount. The definition of the modality may be carried out in the future, at the time of use of the resource. In case of purchase of real estate, the amount is transferred directly to the seller of the unit, and in the case of construction or renovation, the credit is released after the presentation of the documents required by the administrator.


How to buy a contemplated letter of credit?

How to use the letter of credit?

The change of ownership is possible prior to the use of the credit, and the consortium member will assume the remaining installments and in this case the administrator will draw up a transfer agreement. It is important to note that the transfer of quotas with open installments is not allowed.

After the release of the credit and the disposed asset, the change of ownership is conditional upon the approval of the new consortium member when buying the disposed asset and, when the guarantee is exchanged, it will be analyzed according to the outstanding balance of the loan. quota. In these two situations, after the good delivered, it will be necessary to exchange in the real estate registry via sale agreement.

Addlore also does not sell contemplated letters, but it can put consultants and their investors in touch with those they wish.