Property Protection Fund

 The Property Protection Fund (FPI) is integrated with the monthly contribution of the mortgage debtors or promissory buyers, equivalent to one twelfth (1/12) of 0.35% of the amount of the borrowed capital, calculated at the beginning of the debt and payable together with credit installments.

The resources of the fund attend to the hypotheses of total or partial destruction of the object of the mortgage or sale, as well as the repair of the damage caused by harmful events, provided that in the case there has been no intent or gross negligence of the mortgagee or promisor. purchaser, nor of any other person for whom he is civilly liable.

The financial assistance is non-reimbursable and will have a maximum limit of the debit balance of the existing credit for mortgage loan or price balance, on the date of the loss. The minimum limit will be the equivalent of 8% of the appraised value, below which this type of financial assistance will not be provided.

At the time of signing the mortgage loan or the promise of sale ( see contract models ), the contracting party accepts the conditions established by the BHU in this regard in terms of risks covered, term to request it, documentation to be timely signed with the Bank and limits of such assistance.

Application for assistance to the Property Protection Fund

In order to access FPI assistance, the event or loss must be reported to the BHU, at any of its offices throughout the country, within a period not exceeding ten business days from its occurrence. The debtor, or who proves his relationship with the debtor and the causes of force majeure that prevent him from doing so, will be responsible for submitting a copy of the police report and / or the Fire Department, as appropriate, as well as the necessary documents so that The Bank initiates the file with the identification data and gives the applicant the receipt of said presentation.

The BHU is authorized to carry out all the inspections or investigations that it understands of the case to verify the causes and entity of the incident.

The Bank will not pay the debtor any amount for assistance charged to the fund, without prior cancellation of the debt for services that may exist.

Once the BHU has given the necessary consent, the debtor will have a period of 90 calendar days from the signing of the respective assistance document to start the recovery works on the property. Assistance will be provided in the manner determined by the BHU against completed work. If the works cannot be carried out, the BHU is empowered to deduct from the mortgage debt or the price balance an amount equivalent to the assistance, and may even reach the termination of the same, according to the maximum limit established.