Background

Traditionally, obtaining financing in middle and middle-low stratum has been particularly difficult, either for purchasing a dwelling unit (housing) or for refinancing existing debts. The foregoing is due to the low bank penetration in those segments. Although there have been initiatives to achieve greater banking penetration of those segments, the knowledge and dedication required make large financial institutions prefer to focus on more traditional segments. Similarly, large retail business concerns have entered these segments gradually, but always maintaining more relaxed credit policies and, therefore, granting more onerous financing.

San Sebastian Inmobiliaria S.A. has been created to cover the needs of the market. It is a housing finance company that delivers varied alternatives to persons who encompass distinct socioeconomic stratum, mainly geared toward the C2-C3 and D stratum. Credit policies are adapted specially toward those segments, which distances them from the traditional evaluations offered by banks, both in requirements and execution and attention time. It is an attractive alternative for clients, as well as for investors.

Main areas of operation

• Housing leasing for generating funds for general use or for financing the acquisition of a dwelling unit.
• Endorsable mortgage loans backed by a state guarantee for dwelling units with a housing subsidy (Supreme Decree 01 or "DS 01" and Supreme Decree 04 or "DS 04").

Markets of interest

• Chile.
• Peru.