Bank financing among Mexican housing developers will be promoted by the National Chamber of the Housing Development and Promotion Industry (CANADEVI), and HSBC Mexico.

Both institutions signed an alliance, which aims to expand the bank's communication channels and rapprochement with developers affiliated with the chamber.

For this, different training and advisory actions will be carried out in housing financing. At the same time, HSBC Mexico will have an active participation in the dissemination efforts carried out by CANADEVI.

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"At HSBC Mexico we are very interested in continuing to promote that more families can build their wealth through the purchase of their house or apartment, through competitive mortgage loans," said Enrique Margain Pitman, executive director of mortgage and immediate credit at HSBC Mexico. .

For his part, Gonzalo E. Méndez Dávalos, president of CANADEVI, said that without mortgage and commercial banking, housing developments could not build homes.

In the first half of 2021, commercial banks granted 69 thousand mortgage loans.

This figure represented an increase of 32% compared to the same period in 2020, according to the National Banking and Securities Commission.

According to HBSC, this increase is due to the destination of payment of liabilities with a 205% growth, already representing 11% of the total origination of the bank.

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Likewise, the acquisition of housing and construction registered a growth of 39% and 129%, respectively, compared to the previous year.

It should be noted that both sectors account for 83% of the banking organization. Other destinations such as expansion and improvement, as well as free liquidity also show growth.

For its part, HSBC placed 11 thousand mortgage loans for an amount of 17.1 billion pesos from January to June 2021, which represents an increase above the market of 67% and 84% compared to 2020, respectively.

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