Bankinter Consumer Finance strengthens its commitment to offering financing for homeowner associations with pre-approved loans through IESA

The Bank is the only one offering pre-approved loans to homeowner associations through IESA, a leading provider of technology services to property administrators with a customer base of 600,000 homeowner associations and 21 million homes

The loans will be available for different types of renovation works, such as energy efficiency improvements, adaptations to deliver greater accessibility and the installation of lifts, and will mean that associations can avoid imposing immediate surcharges on homeowners.

Bankinter Consumer Finance has signed an agreement with IESA, a leader in apps and technology solutions for property administrators, to reinforce its commitment to offering financing for homeowner associations. Under the terms of the agreement, the Bank will offer pre-approved loans through an agile and simple application process conducted entirely online  through the platforms that IESA customers use.

Bankinter Consumer Finance has launched this innovative financial solution for property administrators that work with IESA, a company founded more than 35 years ago that today boasts a market share of 80% in technology services for property administrators, with a customer base of 600,000 homeowner associations and 21 million homes.

The pre-approved loans mean that associations will not have to collect surcharges from homeowners and will be able to immediately cover the costs of different renovation works, many related to energy efficiency measures and compliance with EU regulations on this matter.

The maximum loan offered is 250,000 euros, repayable over 96 months with a nominal interest rate (NIR) of 5.90%.

The solution means that homeowners will not have to wait until they have collected part or all of the funds required to carry out urgent renovations and other works. IESA already offers a remote meeting service as part of its solutions for property administrators, so homeowners will easily be able to gather to vote on submitting a loan application.