Loans for homeowner associations
How is the project financed?
Through our Community Loan, you can obtain 100% financing for your improvement project.
- You will have up to 12 years to repay it, with monthly instalments, with the possibility to request a term of up to 15 years.
- Interest-only grace period of up to 24 months.
- If the loan is less than €300,000, there won't be any need for a notary.
- Option to pay 100% upfront or in instalments
- A loan for your homeowner association, whether or not you have applied for a grant.
A loan to finally agree on at your next homeowners' meeting.
A success story in Alicante
Discover how other resident associations have already transformed their buildings thanks to our Resident Association Loan.
Do you have a project to carry out or has your residents' association received a grant and you don't know where to start?
You can get answers to your questions and apply for financing at our branches and through the search engine.
It's really simple to apply for our loan for homeowner associations.
You can contact any of our branches, which will answer all your questions. Click on the link below to find out the documents you will need.
Documents required
To apply for and formalise the loan, the following documents must be provided:
- Tax ID Number of the homeowner association:
- ID numbers of the signatories, authorised representatives: chairman and vice chairman, or chairman and administrator.
- Latest account closure statement and summary of approved income and expenses.
- Transaction history for the last 12 months for any accounts held by the homeowner association outside Bankinter, and a certificate or receipt confirming the homeowner association’s ownership of the property.
- Minutes of the residents’ association meeting approving:
- - Carrying out the project to be financed.
- - Taking out financing to undertake this project; If further details are required, these must relate to the terms and conditions of the loan with Bankinter regarding the loan term and other conditions. If other conditions are specified, the document shall not be valid.
- If a grant has been awarded, a certificate from the relevant authority detailing the grant is required.
- Quotation from the company carrying out the work.
- Certificate issued by the administrator detailing the homeowner association’s current arrears.
- Request for financing.
- A certification of the minutes issued by the administrative secretary, with the approval of the Chair, confirming not only that the resolution has been adopted but also that the necessary quorum was present.
Conditions
- Repayment period: up to 12 years.
- Grace period of up to 24 months.
- No notary documents up to €300,000.
- Depreciation: monthly.