As the real estate market continues to increase in value in Brazil, there are many people who are interested in improving the value of their home. A home is usually the largest and most important asset that many people own. With loans that offer minimal interest, now is a great time to purchase a home.
Instead of buying a new home, there are many people who want to improve their current home. There are few banks in Brazil that offer home improvement loans. Home improvement is a relatively new trend in Brazil. For many years, the average person did not have the additional income to invest in their current home. This is a great sign that the economy is improving rapidly.
Luiz Carlos Trabuco was the CEO of Bradesco for several years. He started a home improvement lending program for people who needed to invest in their home. This program has been a massive success for Bradesco.
Qualifying for a typical mortgage takes a long time. Banks want to reduce the overall risk of default on loans. In the last housing crash, many banks went of business due to bad business loans.
A home improvement loan is generally much less difficult to qualify for than a typical mortgage. An appraisal is necessary for the bank to get the total value of the home. The bank will then check how much the owner has left on the mortgage. The difference between the value of the home and remaining mortgage is the home equity. The bank will usually offer a loan based on the home equity available to the owner.
There are some leaders in the banking industry who feel like this is a risky loan product. Some people will inevitably borrow too much money to upgrade their home. However, Luiz Carlos Trabuco as the new chairman always believed that people were smart enough to make their own financial decisions in this area.
Interest rates are lower than they have been in many years. As a result, now is a great time to borrow money in order to invest in the future. There are numerous loan products offered at Bradesco with low rates of interest according to valor.com.br.
Some banking experts believe that interest rates are going to increase in the future. If interest rates increase, fewer people will be willing to borrow money to invest in their homes. In addition, the housing market may not increase in value as quickly.
Another growing area for Bradesco is business lending. As the economy improves, more people are willing to borrow money in order to start a company. A business loan is not easy to qualify for. Bradesco offers numerous different business loans for customers to consider. There are many people who have had success in business after utilizing the capital that Bradesco was willing to lend.
In the coming years, the leaders of Bradesco want to continue developing loan products for customers to utilize. Luiz Carlos Trabuco was always great at deciding which loan products to develop. He decided to leave the company in order to pursue other things in his life.
Luiz Carlos Trabuco surprised many people when he decided to leave. The leaders of Bradesco are now trying to fill his position. The interview process for a CEO position is lengthy. However, many people expect that the position will be filled in the next few months.
Luiz Carlos Trabuco started as clerk in the Bradesco Bank. He graduated from the University of Sao Paulo’s Faculty of Philosophy, Science, and Letters with a bachelor’s degree. He later studied for a Master of Science Degree at the same university. He holds different managerial positions in the Bradesco organization, like marketing director and Vice President.