Navigating Construction Mortgages in Spain: A Guide for Homebuilders

Do you need mortgage finance to build your own? Eco Vida Homes have teamed up with Habeno, mortgage brokers, to make getting a construction mortgage simple and straightforward. What we love about Habeno is that the inspiration for setting up the business came from the Swedish founder’s own frustration in seeking a mortgage in Spain. Habeno are very client focused.

In a typical scenario you would buy the land outright (cash) and then you might be able to raise in the order of 70% of the construction costs that is released during the construction period against architect’s certificates.

If a construction mortgage is a must-have rather than a nice-to-have for your venture, then we can help you put together an outline budget for your initial discussion with Habeno to see if they can help you in principal.

You may also want to know how much of the total you might need to spend on the land we can help you with that at Eco Vida Homes.

Lenders will assess your financial stability, creditworthiness, and the feasibility of the project before approving the loan.

Although you can and should talk to Habeno at an early stage The loan will only be formally approved when you have the building licence from the local authority, the “execution project” approved by the College of Architects and a contract from a suitable contractor supervisory professionals. The latter can obviously be provided by Eco Vida Homes.

Decennial Insurance will be a condition of the loan and we can organise this for you.

If you want to discuss you project in more detail you can make an appointment here.

If you would like John Wolfendale to introduce you personally to Pablo Cacace of Habeno, contact John at john@ecovidahomes.com We find that a client who is introduced personally is more highly valued that one who walks “off the street”.

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