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A loan to build your house: from start to finish

  • Finance the construction of your house.
  • It can be your primary residence or a second home.
  • At a fixed or variable interest rate.

What do you need to know?

Who can apply?

Exclusive conditions for individuals residing in Spain looking to buy their primary residence or second home. Applicants must have a monthly income of at least €2,000.

Up to 80%<sup>1</sup>

If it’s your primary residence, you can apply for up to 80% of the appraisal value. In the case of a second home, up to 60%.

Maximum term

Thirty years provided that none of the holders will be over 75 years old at the end of the term.

Custom tranches

Land tranche

The first capital payment, which can be up to 50% of the appraisal value of the site where you are going to build.

Certification tranche

In this tranche the funds are made available in different stages so that you can cover the building costs as the work progresses. Capital is released each time the architect issues a certificate stating the percentage of work completed and the current value of the property.

End of works tranche

This is the last tranche, representing between 10% and 20% of the loan. The rest of the capital, up to 100% of the amount granted, will be available once the certificate of completion has been issued and the first occupation licence has been obtained.

See Conditions and requirements Conditions and requirements

Credichalet is a loan with a mortgage and personal guarantee for the building of single-family houses.

Terms and conditions

Available to individuals who reside in Spain who earn a total of over €2,000/month (consult us for non-resident conditions).

For the purchase of a first or second residence.

Up to 80% of the value of the primary residence and 60% of the second home, using one of the following, whichever is lower, as a reference: the development cost or the appraisal value.

Interest rate

Available at fixed or variable interest rates.


Maximum term of 30 years as long as none of the holders is over 75 years old when the loan matures.

Deferment period of up to 24 months available if it is a variable-rate loan. If it is a fixed-rate loan, the grace period is 18 months.

Capital disbursements

1) Land tranche. Up to a limit of 50% of the appraised value of the land.

2) Certifications tranche. Disbursements are made on the certifications issued by the architect. As the work develops, the architect will issue a certificate at the customer's behest stating the percentage of work done, which will be verified in an appraisal.

3) End of work tranche. It represents between 10% and 20% of the loan amount. It will be available once the end of work certificate has been issued and the certificate of habitability has been obtained.


To apply for the Credichalet, 100% of the land must be owned by the loan holder(s), or otherwise it must be bought when the loan is signed.

The customer will also need to have a building licence when formalising the loan.


Can I sign a Credichalet if the land does not belong to me?

No, you can't. When signing, the loan holders must fully own the land, or, if, not they will have to purchase it at the same time as signing the loan.

Can I sign a Credichalet without a building permit?

No, the building permit is essential to be able to formalise the loan.

Can I disburse the last tranche of the loan without an occupancy licence?

No, this essential document ensures that the mortgage is perfectly noted in the property registry.

What documents do I need to submit to get a customised offer?

Application data:
• Completed and signed financing application form.
• Signed pre-contractual information form (copy to be returned signed by all parties to the agreement).
• If the application is made in Andalusia, a copy signed by all parties to the contractual information document.

Identifying data:
• National ID card, Tax ID no. or residence card of the applicants.
• Marital status. If married in an economic regime which includes premarital agreements, a copy of them must be submitted. If separated or divorced, a copy of the settlement agreement and/or judgement must be submitted.

Economic data (salaried employee):
• Photocopy of the last 3 payslips or proof of payment of a pension.
• Photocopy of employment contract or Social Security employment record, when the person has had the job for less than 4 years and/or it does not appear in the payslips.
• Photocopy of last year's income tax return (IRPF).
• If submitting a statement of assets, a photocopy of it.

Economic data (self-employed worker):
• Photocopy of registration in economic activities tax (IAE).
• Photocopy of the quarterly VAT and personal income tax returns, and annual summary.
• Photocopy of the income tax return (IRPF).
• If submitting a statement of assets, a photocopy of it.

In both cases:
• Photocopy of the property tax receipt (IBI), if you have other properties in your name.
• Photocopy of the property rental contract (if applicable).
• Photocopy of the last 3 receipts, if there are other debts in your name (loans, leasing, etc.). If the loan is being subrogated, you will need to submit a copy of the deed of the mortgage loan to be subrogated as well as the last three receipts of the loan.
• Photocopy of proof of other types of income: pensions from other countries, etc.

Land data:
• Photocopy of the title deed of the plot, if there is no sale transaction.
• Land registry report of the updated plot registration. If there are encumbrances, the 3 last loan receipts and balance to cancel before signing.
• Building project, building permit and budget for execution of works..
• Project appraisal.
• All-risk construction insurance.

What documents do I need to submit on the day of signing before a notary
• National ID card/ Tax ID no. or residence card, which must be valid.
• Customised information sheet and binding offer.
• Complementary customised information document.

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We're here to answer your questions and banking queries, provide technical support, etc.

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