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EFFIC and Bankinter sign an agreement to finance housing renovation with the support of NextGenerationEU funds

Property owners' associations whose renovations are being managed by EFFIC, the brand established by Anticipa and Aliseda as a renovation agent, will receive favourable financing conditions from Bankinter in order to undertake these works.

This partnership strengthens EFFIC's position as one of the most solvent renovation agents for deploying European funds and strenghthens Bankinter's position as a leading institution for providing financing to property owners' associations.

EFFIC, the business unit launched by Anticipa Real Estate and Aliseda Inmobiliaria as a renovation agent, and Bankinter have signed a partnership agreement to provide financing to property owners' associations for renovation and energy-efficiency improvement works managed by the company, with support from NextGenerationEU funds. These funds are provided for modernising Spanish housing stock and making it energy efficient.


Under this agreement, homeowners whose housing renovations are being managed by EFFIC will be able to receive favourable financing conditions for the part not covered by the European Union subsidy, enabling them to undertake the works. For this purpose, on its website (, EFFIC will have an calculator which will run a financing simulation for property owners' associations, based on the conditions agreed with the organisation. Therefore, thanks to the combination of the European Union subsidies, the personal income tax deductions and the energy savings provided by these renovations, there will be little in the way financial outgoings for property owners' associations.


The financing, which will be provided by Bankinter, will come in the form of a loan of up to 100% of the works budget, with a maximum term of 12 years, which does not require opening a bank account or arranging additional products and which is formalised by a digital signature from the property owners' association's representative. It does not even require a notary when the loan amount is below EUR 300,000. In short, it is a simple and fully online arrangement process, with the amount available in the property owners' association's account in less than 72 hours. This represents a cultural shift in the usual dynamics of property owners' associations, by replacing unpopular outlays with flexible, long-term financing.


The works financed by the bank are all linked to energy efficiency and will include refurbishing facades, repairing rooves, improving building insulation and replacing windows, replacing boilers, LED lighting and installing energy cost allocators, installing distributed generation and solar thermal equipment, installing electric vehicle charging points in garages and work to improve accessibility.


With this agreement, EFFIC continues to position itself as one of the most solvent renovation agents for deploying European funding, just six months after it launched. During this time, EFFIC has grabbed the attention of stakeholders, such as regional administrations, specifically those which are responsible for distributing this European Union funding, or the attention of other bodies, such as the General Council of Real Estate Administrators.


"We have the experience, the talent, the technological platform and the networks of local partners required to offer the maximum guarantees as a renovation agent, and continue setting the standard on the market.  The more than 50,000 home renovations in more than 3,000 municipalities across the country overseen by Anticipa and Aliseda are evidence of just what we can do", says Eduard Mendiluce, CEO of Anticipa and Aliseda, who underlined that, with this agreement with Bankinter, "we are setting out to act as a vehicle to deliver far quicker access to these European Union funds to property owners' associations".


Alfonso Saez, General Director of Bankinter Consumer Finance, has reiterated the bank's firm commitment to promoting financing for these types of energy renovation works in residential buildings. "We are aiming to consolidate our position in this business segment, working in partnership with solvent companies such as EFFIC, with specific solutions for financing projects in property owners' associations, which are simple, transparent and quick to process. These are solutions which, in short, cover the entire renovation budget and avoid the negative effect of undertaking the cost of the works via spillovers".   



EFFIC helps property owners' associations to achieve their energy-efficiency goals and to access subsidies from Next Generation funds, by comprehensively managing and overseeing the entire renovation process, from the building energy study, through to financing, the renovation itself and grant management. On the buildings themselves, associations will also be able to receive grants for centralised systems, facades and rooves, as well as lifts.


All of the information about the processes is available on the website (, which has two essential features for property owners' associations: an energy simulator, where basic data about the building and its systems can be entered in order to determine the emissions reduction and the savings on utility bills after the proposed renovation, and a calculator that will run a financing simutlation for property owners' associations, based on the conditions agreed with Bankinter.


Obsolete housing

TheNextGenerationEU funds are helping to modernise Spain's housing stock, 50% of which is over 40 years old. Very few of these properties have been renovated, meaning that they are not particularly suited to the new needs of owners and tenants, and that they are not energy efficient. The European Union grant programme for works to improve energy efficiency in residential buildings provides direct subsidies covering between 40% and 80% of the cost of the project (max. €6,300-€18,800 per dwelling covered by the renovation project), provided that it reduces the annual energy demand by 30%. In addition, under this programme, up to 60% of the value of the non-subsisidised amount can be deducted from these homeowners' full domestic income tax amount.



About Anticipa Real Estate


Anticipa Real Estate specialises in real estate management and mortgages with residential assets as securities. Currently, the company manages 15,200 assets across Spain. It sets out to provide comprehensive, transparent and innovative solutions to its customers, and to maximise value through global management of real-estate assets and mortgage portfolios.


Anticipa's work is supported by a human team with extensive experience within the sector and technological resources that aim to deliver increased efficiency and digitisation in particular. With this solid structure, the company can provide its real estate management services to other companies, funds and public-sector bodies.

As a result, this year, the company has been awarded the contract to manage Sareb's 67,000 real-estate assets and mortgages, worth more than EUR 11.3 billion.


About Aliseda Inmobiliaria


Aliseda Inmobiliaria is a new joint venture between the investment fund Blackstone (51% of the capital) and Banco Santander (49%) which manages EUR 10.3 billion of real-estate assets and mortgages from Banco Popular. It manages a total of 80,000 properties and 40,000 real-estate securities. This year, the company has been awarded the contract to manage Sareb's 67,000 real-estate assets and mortgages, worth more than EUR 11.3 billion.


It is a sophisticated real-estate management company, which establishes strategies tailored to the needs of each asset. These business strategies includes sales of homes,, urban management and sales of land, and management of offices and shopping centers, and aim to create value in the Spanish real-estate market. Aliseda believes in the long-term potential of the Spanish economy and the residential housing market.


About Bankinter


Bankinter is the sixth bank in terms of size in the Spanish financial system, the fourth in terms of market capitalisation and profits, and the first in terms of profitability and quality of assets. It has more than 102 billion euros in total assets, lendings of 66 billion and controlled customer funds of 113 billion. With operations in Spain, Portugal, Ireland and Luxembourg, Bankinter's strategy is based on a range of complementary business lines, the most important of which are the corporate business, with a focus on the medium and large segments; high net worth customers, where the bank has a market share far exceeding its size; insurance; consumer banking, through its Bankinter Consumer Finance subsidiary; and investment banking through subsidiaries EVA Banco, Bankinter Portugal and Avant Money in Ireland.


The bank's optimal situation in terms of capital adequacy, profitability and asset quality was endorsed in the latest stress tests carried out on the entire financial sector by the European Banking Authority (EBA); Bankinter was the most resilient Spanish bank in adverse macroeconomic scenarios and the third most resilient in Europe.