according to the publication of the monthly ranking prepared by my best rate, in the month of September, State was positioned as the Bank with the final cost low for a mortgage, while Bice is the most expensive.
For all cases, the CAE calculated by the Bank underestimated the true final cost for the customer. This difference could translate into pay a lower dividend or reduce significant part of initial expenses.
The difference between the most expensive and the cheapest of the sample is 79 points based on the rate of final cost. Simple difference? So the more expensive Bank of the ranking had the same final cost the Bank more cheap, this should today give the customer $5.253.118.
The report highlights State Bank as the Bank with the lowest final cost for this credit with UF+4, 05% per year (Note: State Bank not delivery initial operational costs information, so it was assigned an average). And, on the other hand, Banco Bice is the most expensive with UF+4, 84% annual. “On average, for this credit consulted, the final cost is UF+4, 21% yearly, with a final dividend of UF 13,00 (including insurance) and initial expenses of UF 45.73”, accurate my best rate.
Error in Bank State the situation in the first place is treated as a special case and, as happened previously with Security, the report noted an anomaly. “In the development of the Ranking of this month, we realized that State Bank introduces an error in the calculation of the dividend in pesos. The “error” directly affects customer, hampering its efforts to compare loans. “This, more the denounced in the letter of 27 June (State Bank does not report error and operational costs in the fall and total cost of credit) violates the rights of consumers to obtain reliable information of the quoted credit”.
See the full report here.
