You need a mortgage-free property (or one with a small outstanding mortgage) to be eligible for a loan. In addition, you must provide proof of minimum income – but this does not need to be a salary. For example, you can provide rent payments, pensions and other proof of income.
Frequently
Asked Questions
If you can´t find the answer to
your question here, do get in touch
- General Questions
- Debt Consolidation
- Property Refurbishment Loan
- Loan with ASNEF
- Loans for the Self-Employed
- Business Loans
- Inheritance Loan
- Loan to Address Asset Seizure
- Private Capital Loan
General Questions
What do I need to get a loan?
How much money can I borrow?
At Suitaprest we offer loans of €15,000 – €300,000. The maximum loan for each client depends on a number of factors, such as the value of the property used to secure the loan. A finance manager needs to review your individual case to confirm how much you personally can borrow.
Can I use a mortgaged property as collateral?
Yes, you can use a property with an outstanding mortgage – as long as the remaining mortgage is less than 30% of the value of the property. In some cases, we also work with properties with larger mortgages, but a finance manager needs to review your individual case to confirm if this is possible.
Do I have to own the property I use as collateral?
No, you do not need to own the property. For example, you can use the property of a relative or friend, as long as they agree to mortgage the property to act as a guarantee of your loan. The owner/s will also need to come to the notary, and sign for the loan alongside you.
What documentation do I need?
In addition to proof of income, we will ask for the IBI property tax document for the property and an identity document. Once we have these documents, we are able to start the process. In some specific cases, (for example, when accepting an inheritance), we may ask for other relevant paperwork, but this will depend on each individual case.
What is “Appraisal”?
An expert from an organisation regulated by the Bank of Spain needs to visit the property to confirm its value. This step is required to decide the maximum loan that can be made available to you, using the property as collateral. We will organise the appointment at a time that best suits you.
How long does it take to grant the loan?
Once we receive your application, within 24 hours we will let you know whether we can offer you the loan based on your circumstances.
The law requires mortgage-backed loans to be signed twice, in the presence of a notary, with 10 days between the two appointments in most of Spain and 14 days in Catalunya. This is a legal requirement which sets a minimum timeframe for our processes for loans issued to individuals.
The funds are transferred to your bank account the same day you have the second notary appointment, immediately after the contract has been signed.
Where is the loan agreement signed?
The loan agreement is signed in the presence of your chosen notary, wherever suits you best. If you have a notary you trust, we can contact them. We also have experience working with a wide network of different notaries across Spain, and are happy to recommend one in your region.
What is the interest rate on your loans?
The interest rate depends on several factors, including the value of the property and your chosen repayment period. Our finance managers need to review your case to determine what rate we can offer in your specific circumstances. In general, the interest rate on loans we broker is in the range of 8-13%. This is in line with the average of other providers of private capital mortgage-backed loans in Spain.
Do I need to show my monthly pay to get a loan?
Most lenders will look at your fixed monthly income or salary before deciding whether to offer you a loan. At Suitaprest we work with lenders who are different, and who do not have this requirement.
We do check that you have enough income to meet your interest obligations as well as your household´s financial needs. However, for us it does not matter if your income comes from a fixed salary or other sources – such as rental income, freelancing income, pension or others.
Can I get a loan if I am on the ASNEF list?
Yes, you can. Most lenders – especially traditional banks – do not issue loans to people who are on defaulter lists such as ASNEF or RAI. This is because they believe clients with such profiles are at a higher risk of not paying their instalments.
At Suitaprest, we help our clients obtain mortgage-backed loans. With this additional guarantee, the lenders we collaborate with can be more flexible with their loan conditions.
How long do I have to pay back the loan?
The maximum repayment period is 20 years, but it comes with maximum flexibility. For example, you can decide to repay the loan in full in advance, whenever suits you and at no additional cost. Alternatively, you also have the option to extend or increase your loan once you are already a client.
Can I repay the loan early?
Yes, you can repay your loan at any time and at no extra cost.
In fact, many clients use these loans as a short-term solution to bridge a financial gap. They use the the cash to repay other debts and better organize their finances. Once this is done, their financial profile improves in the eyes of traditional lenders – which means they can get a bank loan, use it to cancel the Suitaprest loan, and return to mainstream finance providers. This is a very common situation, and we help our clients in this process.
Do I need to pay anything upfront?
No, you do not. Having your case assessed is completely free of charge and there is no obligation to take out a loan. You will only start to pay once you have received the loan payment in your current account.
What is ´Management Mediterranean De Crédito Financiero S.L.´?
It is the legal or corporate name of Suitaprest, which appears on contracts and other legal documentation. The customer-facing name ´Suitaprest´ was adopted after the business was registered, to simplify the brand and communication with clients.
Why does my contract with Suitaprest include the name of another company that I don´t recognise?
Suitaprest (or Management Mediterranean De Crédito Financiero S.L.) is a financial intermediary. We collaborate with various lenders of private capital to find the best financing options for our clients. The contract is signed between the borrower (the client) and the private capital lender.
Debt Consolidation
How does debt consolidation save me money?
Firstly, many personal loans and credit cards have very high interest rates. Paying off all these debts with one single loan of lower interest means you can reduce the interest you pay every month.
Secondly, the process of consolidating your debts usually means you can extend your loan terms. This allows you to pay lower monthly repayments and means you have more money left at the end of each month.
What do I need to get a loan for debt consolidation?
You need a mortgage-free property (or one with a small outstanding mortgage) to be eligible for a loan. In addition, you must provide proof of minimum income – but this does not need to be a salary. For example, you could provide rent payments, pensions and other proof of income.
Property refurbishment Loan
What do I need to get a loan for refurbishment?
You need a mortgage-free property (or one with a small outstanding mortgage) to be eligible for a loan. In addition, you must provide proof of minimum income – but this does not need to be a salary. For example, you could provide rent payments, pensions and other proof of income.
Do I need to share my refurbishment plan or proposal to get the loan?
No, there is no need. We will provide the loan, and you can freely decide how best to use it to improve your property.
Does the property to guarantee the loan need to be the same as the property that is being renovated?
No, this is not a requirement. You can use one property as collateral for the loan, and then use the loan to renovate a different property.
Can I get a loan to renovate a property that I am going to inherit?
Yes, absolutely. In fact, many of our clients take out a loan to accept inheritance, so we have a lot of experience with such cases.
The property you inherit acts as the guarantee for your loan. You can use the cash to cover the costs of inheritance, renovate the property and get it ready for its next phase – whether to rent, sell or enjoy living there yourself.
Loan with ASNEF
What is ASNEF?
ASNEF stands for ´Asociación Nacional de Establecimientos Financieros de Crédito´ which translates as ´National Association of financial companies.´ It is a credit blacklist that documents people that have defaulted on their debts and payments.
If your name appears on this list, most financial companies will not offer you a loan. At Suitaprest we collaborate with lenders that are different – as long as you can guarantee your loan with a property, they can provide the financing to enable you to pay off your debts. This, in turn, can enable you to clear your name from the ASNEF list.
Can I get a loan if I am on the ASNEF list?
Yes, you can. Most lenders – especially traditional banks – do not issue loans to people who are on defaulter lists such as ASNEF or RAI. This is because they believe clients with such profiles are at a higher risk of not paying their instalments.
At Suitaprest, we collaborate with lenders that issue only mortgage-backed loans. With this additional guarantee, they can be more flexible with their loan conditions.
Do I need a guarantor to get a loan if I am on the ASNEF list?
If you are on the ASNEF list, most lenders will require that another person – for example a family member or friend – acts as your guarantor and signs the loan alongside you.
At Suitaprest, this is not a requirement. If you are on the ASNEF list but can meet the criteria of the loan, no other guarantor needs to be involved for you to obtain your financing.
Will my interest rate be higher because I am on the ASNEF list?
No. Whether you are on the ASNEF list or not does not impact the interest rate that we are able to offer you.
Loans for the Self-Employed
What is required to get a loan if I am self-employed?
The main requirement is to have a property to guarantee the loan. This property can belong to you or someone else – what´s important is that the owner/s agree to sign for the loan. The property should be mortgage-free, or if it has a mortgage then it should be relatively small compared to total property value.
You also need to check your declared income – but this does not need to be from a fixed contract or monthly salary. Many of our clients are self-employed with irregular incomes from different projects.
What documents are required to get a loan if I am self-employed?
At Suitaprest we ask only for the necessary documents! Once we have the IBI of the property and proof of your identity (e.g. DNI) we can begin the process. In some cases other documents may be required, but it would vary case by case.
As a self-employed persona, you will need to demonstrate your income via tax returns or another official record of declared income.
I am starting from 0, and have no initial capital. Can I still get a loan?
Yes! At Suitaprest we support entrepreneurs, so this is not a problem for us. The requirements are exactly the same for you as any established business.
Business Loans
What is required to get a business loan?
At Suitaprest we help our clients get mortgage-backed loans, so the most important requirement is having a property to act as a guarantee. This property can belong to the business or an individual – it does not matter. The important thing is that the owner/s agree to sign for the loan.
There are also some other requirements specific to businesses. For example, we need to look at financial statements, confirm the identity of administrators etc.
How long does it take to get a business loan?
We can process a business loan very quickly – in as little as 1 week! The mortgage lenders we collaborate with have processes for approving and issuing loans that are fast and agile, especially when compared to traditional banks.
In our experience, delays in issuing business loans frequently come from delays on the client side. For example, if the business has a Board then it needs to approve the financing proposal – and this can take time.
Do we need to show what the business will use the loan for?
No, there is no requirement for you to justify the purpose of the loan. You can use the funds for whatever your business needs to grow and thrive.
Can we get a business loan if we are on the RAI list?
Yes, you can. You can access the business loan as long as there is a property to act as guarantee. You can also use the liquidity from the loan to pay off your existing debts, and therefore get off the RAI list.
Is it possible to consolidate business debts?
Consolidating business debts is as easy as consolidating loans that belong to an individual. In case of a business we will ask for the sum of all your existing loans, and tell you how much you can expect to repay each month after you consolidate. The resulting monthly quote will depend on your individual circumstances and will be lower than pre-consolidation.
Moreover, for businesses, the loan-issuing process is much faster when compared to individual clients. This is because the legal requirement of delayed contract signing (10 days) does not apply to business, only to individuals.
Inheritance Loan
How does accepting inheritance work?
Accepting inheritance means taking on ownership of someone´s estate after they have passed away. This can include goods, property, funds or savings, but also any outstanding debt obligations.
There are various administrative as well as legal costs, and tax expenses that need to be settled before you can become the legal owner.
What are the costs of accepting inheritance?
The exact amount will depend on your individual case, but the main costs to consider are legal (notary, lawyer etc.) and inheritance taxes.
Taxes will vary depending on where in Spain you are based. For example ISD (Impuesto de Sucesiones y Donaciones) is an obligatory state-wide tax, yet it has different conditions in different Autonomous Communities. AJD (Impuesto sobre Actos Jurídicos Documentados) is a tax that is determined by each Autonomous Community. Finally, there is IIVTNU (Impuesto de Plusvalía Municipal) which only applies to properties in urban zones.
If there is more than one heir, can we get a joint loan?
Yes, that is not a problem. As long as all the heirs agree to use the property you are due to inherit as collateral for the loan, you can all be equal borrowers.
This works exactly as if you were already legal owners of the property. It can be used as a guarantee as long as everyone that has legal claim to it (whether owner or heir) agrees to sign for the loan.
What documents do I need to provide to a get a loan to accept inheritance?
We will only require documents that are absolutely necessary. What´s more – you can send most of them via email or WhatsApp.
Most documents for a loan to accept inheritance are the same as for any other Suitaprest loan: IBI tax document for the property, identity document (such as DNI) and proof of income. Of course, accepting inheritance also has some specific legal needs – so you will also need to provide the will, certificate of ´últimas voluntades´ and certificate of ´defunción.´
Loan to address Asset Seizure
Can I get a loan if my property or assets are in the process of foreclosure?
At Suitaprest – yes. We collaborate with lenders whose criteria for people in your situation are exactly the same as for any other client. The liquidity from the loan can then be used to resolve your situation, and stop the seizure process.
How can I stop my property or assets from being seized?
Property or asset seizures can be initiated if you have defaulted on your debts. The only way to stop the seizure is to settle your outstanding debts with the lenders that have initiated the property seizure process.
At Suitaprest we work with clients to help you resolve this situation. Liquidity from the loan goes directly to settle the outstanding debts to stop the seizure – and any amount left over goes directly to you.
If I am in the process of foreclosure and get the loan, who gets the money from it?
As soon as the loan is issued, the required amount is sent directly to the entity that is reclaiming your debt – whether this is Hacienda, Social Security, banks or any other. This settles your debts, and stops the seizure process.
Any loan amount left over is then transferred directly to you, into a bank account that is most convenient for you.
Private Capital Loan
What is private capital?
´Private capital´ simply means that the money we lend belongs to individual investors, rather than institutional investors such as a bank. We are regulated and authorized by the Bank of Spain according to different laws compared to your bank.
What are the benefits of private capital?
Private capital lenders can generally be more flexible than traditional investors such as banks. Banks have an important responsibility to protect their customers´ funds, so they are more risk-averse when they assess potential borrowers.
On the other hand, private capital lenders can issue loans to customers that are turned down by traditional banks.
What are the downsides of private capital?
The main downside for a customer (borrower) is that private capital loans are more expensive than traditional bank loans.
The typical interest rate for a private capital loan in Spain is 10-13%, plus an opening fee or commission. This is because the lender is accepting a ´higher risk´ borrower, as defined by traditional banking criteria.
General Questions
What do I need to get a loan?
You need a mortgage-free property (or one with a small outstanding mortgage) to be eligible for a loan. In addition, you must provide proof of minimum income – but this does not need to be a salary. For example, you can provide rent payments, pensions and other proof of income.
How much money can I borrow?
At Suitaprest we offer loans of €15,000 – €300,000. The maximum loan for each client depends on a number of factors, such as the value of the property used to secure the loan. A finance manager needs to review your individual case to confirm how much you personally can borrow.
Can I use a mortgaged property as collateral?
Yes, you can use a property with an outstanding mortgage – as long as the remaining mortgage is less than 30% of the value of the property. In some cases, we also work with properties with larger mortgages, but a finance manager needs to review your individual case to confirm if this is possible.
Do I have to own the property I use as collateral?
No, you do not need to own the property. For example, you can use the property of a relative or friend, as long as they agree to mortgage the property to act as a guarantee of your loan. The owner/s will also need to come to the notary, and sign for the loan alongside you.
What documentation do I need?
In addition to proof of income, we will ask for the IBI property tax document for the property and an identity document. Once we have these documents, we are able to start the process. In some specific cases, (for example, when accepting an inheritance), we may ask for other relevant paperwork, but this will depend on each individual case.
What is “Appraisal”?
An expert from an organisation regulated by the Bank of Spain needs to visit the property to confirm its value. This step is required to decide the maximum loan that can be made available to you, using the property as collateral. We will organise the appointment at a time that best suits you.
How long does it take to grant the loan?
Once we receive your application, within 24 hours we will let you know whether we can offer you the loan based on your circumstances.
The law requires mortgage-backed loans to be signed twice, in the presence of a notary, with 10 days between the two appointments in most of Spain and 14 days in Catalunya. This is a legal requirement which sets a minimum timeframe for our processes for loans issued to individuals.
The funds are transferred to your bank account the same day you have the second notary appointment, immediately after the contract has been signed.
Where is the loan agreement signed?
The loan agreement is signed in the presence of your chosen notary, wherever suits you best. If you have a notary you trust, we can contact them. We also have experience working with a wide network of different notaries across Spain, and are happy to recommend one in your region.
What is the interest rate on your loans?
The interest rate depends on several factors, including the value of the property and your chosen repayment period. Our finance managers need to review your case to determine what rate we can offer in your specific circumstances. In general, the interest rate on loans we broker is in the range of 8-13%. This is in line with the average of other providers of private capital mortgage-backed loans in Spain.
Do I need to show my monthly pay to get a loan?
Most lenders will look at your fixed monthly income or salary before deciding whether to offer you a loan. At Suitaprest we work with lenders who are different, and who do not have this requirement.
We do check that you have enough income to meet your interest obligations as well as your household´s financial needs. However, for us it does not matter if your income comes from a fixed salary or other sources – such as rental income, freelancing income, pension or others.
Can I get a loan if I am on the ASNEF list?
Yes, you can. Most lenders – especially traditional banks – do not issue loans to people who are on defaulter lists such as ASNEF or RAI. This is because they believe clients with such profiles are at a higher risk of not paying their instalments.
At Suitaprest, we help our clients obtain mortgage-backed loans. With this additional guarantee, the lenders we collaborate with can be more flexible with their loan conditions.
How long do I have to pay back the loan?
The maximum repayment period is 20 years, but it comes with maximum flexibility. For example, you can decide to repay the loan in full in advance, whenever suits you and at no additional cost. Alternatively, you also have the option to extend or increase your loan once you are already a client.
Can I repay the loan early?
Yes, you can repay your loan at any time and at no extra cost.
In fact, many clients use these loans as a short-term solution to bridge a financial gap. They use the the cash to repay other debts and better organize their finances. Once this is done, their financial profile improves in the eyes of traditional lenders – which means they can get a bank loan, use it to cancel the Suitaprest loan, and return to mainstream finance providers. This is a very common situation, and we help our clients in this process.
Do I need to pay anything upfront?
No, you do not. Having your case assessed is completely free of charge and there is no obligation to take out a loan. You will only start to pay once you have received the loan payment in your current account.
What is ´Management Mediterranean De Crédito Financiero S.L.´?
It is the legal or corporate name of Suitaprest, which appears on contracts and other legal documentation. The customer-facing name ´Suitaprest´ was adopted after the business was registered, to simplify the brand and communication with clients.
Why does my contract with Suitaprest include the name of another company that I don´t recognise?
Suitaprest (or Management Mediterranean De Crédito Financiero S.L.) is a financial intermediary. We collaborate with various lenders of private capital to find the best financing options for our clients. The contract is signed between the borrower (the client) and the private capital lender.
Debt Consolidation
How does debt consolidation save me money?
Firstly, many personal loans and credit cards have very high interest rates. Paying off all these debts with one single loan of lower interest means you can reduce the interest you pay every month.
Secondly, the process of consolidating your debts usually means you can extend your loan terms. This allows you to pay lower monthly repayments and means you have more money left at the end of each month.
What do I need to get a loan for debt consolidation?
You need a mortgage-free property (or one with a small outstanding mortgage) to be eligible for a loan. In addition, you must provide proof of minimum income – but this does not need to be a salary. For example, you could provide rent payments, pensions and other proof of income.
Property refurbishment Loan
What do I need to get a loan for refurbishment?
You need a mortgage-free property (or one with a small outstanding mortgage) to be eligible for a loan. In addition, you must provide proof of minimum income – but this does not need to be a salary. For example, you could provide rent payments, pensions and other proof of income.
Do I need to share my refurbishment plan or proposal to get the loan?
No, there is no need. We will provide the loan, and you can freely decide how best to use it to improve your property.
Does the property to guarantee the loan need to be the same as the property that is being renovated?
No, this is not a requirement. You can use one property as collateral for the loan, and then use the loan to renovate a different property.
Can I get a loan to renovate a property that I am going to inherit?
Yes, absolutely. In fact, many of our clients take out a loan to accept inheritance, so we have a lot of experience with such cases.
The property you inherit acts as the guarantee for your loan. You can use the cash to cover the costs of inheritance, renovate the property and get it ready for its next phase – whether to rent, sell or enjoy living there yourself.
Loan with ASNEF
What is ASNEF?
ASNEF stands for ´Asociación Nacional de Establecimientos Financieros de Crédito´ which translates as ´National Association of financial companies.´ It is a credit blacklist that documents people that have defaulted on their debts and payments.
If your name appears on this list, most financial companies will not offer you a loan. At Suitaprest we collaborate with lenders that are different – as long as you can guarantee your loan with a property, they can provide the financing to enable you to pay off your debts. This, in turn, can enable you to clear your name from the ASNEF list.
Can I get a loan if I am on the ASNEF list?
Yes, you can. Most lenders – especially traditional banks – do not issue loans to people who are on defaulter lists such as ASNEF or RAI. This is because they believe clients with such profiles are at a higher risk of not paying their instalments.
At Suitaprest, we collaborate with lenders that issue only mortgage-backed loans. With this additional guarantee, they can be more flexible with their loan conditions.
Do I need a guarantor to get a loan if I am on the ASNEF list?
If you are on the ASNEF list, most lenders will require that another person – for example a family member or friend – acts as your guarantor and signs the loan alongside you.
At Suitaprest, this is not a requirement. If you are on the ASNEF list but can meet the criteria of the loan, no other guarantor needs to be involved for you to obtain your financing.
Will my interest rate be higher because I am on the ASNEF list?
No. Whether you are on the ASNEF list or not does not impact the interest rate that we are able to offer you.
Loans for the Self-Employed
What is required to get a loan if I am self-employed?
The main requirement is to have a property to guarantee the loan. This property can belong to you or someone else – what´s important is that the owner/s agree to sign for the loan. The property should be mortgage-free, or if it has a mortgage then it should be relatively small compared to total property value.
You also need to check your declared income – but this does not need to be from a fixed contract or monthly salary. Many of our clients are self-employed with irregular incomes from different projects.
What documents are required to get a loan if I am self-employed?
At Suitaprest we ask only for the necessary documents! Once we have the IBI of the property and proof of your identity (e.g. DNI) we can begin the process. In some cases other documents may be required, but it would vary case by case.
As a self-employed persona, you will need to demonstrate your income via tax returns or another official record of declared income.
I am starting from 0, and have no initial capital. Can I still get a loan?
Yes! At Suitaprest we support entrepreneurs, so this is not a problem for us. The requirements are exactly the same for you as any established business.
Business Loans
What is required to get a business loan?
At Suitaprest we help our clients get mortgage-backed loans, so the most important requirement is having a property to act as a guarantee. This property can belong to the business or an individual – it does not matter. The important thing is that the owner/s agree to sign for the loan.
There are also some other requirements specific to businesses. For example, we need to look at financial statements, confirm the identity of administrators etc.
How long does it take to get a business loan?
We can process a business loan very quickly – in as little as 1 week! The mortgage lenders we collaborate with have processes for approving and issuing loans that are fast and agile, especially when compared to traditional banks.
In our experience, delays in issuing business loans frequently come from delays on the client side. For example, if the business has a Board then it needs to approve the financing proposal – and this can take time.
Do we need to show what the business will use the loan for?
No, there is no requirement for you to justify the purpose of the loan. You can use the funds for whatever your business needs to grow and thrive.
Can we get a business loan if we are on the RAI list?
Yes, you can. You can access the business loan as long as there is a property to act as guarantee. You can also use the liquidity from the loan to pay off your existing debts, and therefore get off the RAI list.
Is it possible to consolidate business debts?
Consolidating business debts is as easy as consolidating loans that belong to an individual. In case of a business we will ask for the sum of all your existing loans, and tell you how much you can expect to repay each month after you consolidate. The resulting monthly quote will depend on your individual circumstances and will be lower than pre-consolidation.
Moreover, for businesses, the loan-issuing process is much faster when compared to individual clients. This is because the legal requirement of delayed contract signing (10 days) does not apply to business, only to individuals.
Inheritance Loan
How does accepting inheritance work?
Accepting inheritance means taking on ownership of someone´s estate after they have passed away. This can include goods, property, funds or savings, but also any outstanding debt obligations.
There are various administrative as well as legal costs, and tax expenses that need to be settled before you can become the legal owner.
What are the costs of accepting inheritance?
The exact amount will depend on your individual case, but the main costs to consider are legal (notary, lawyer etc.) and inheritance taxes.
Taxes will vary depending on where in Spain you are based. For example ISD (Impuesto de Sucesiones y Donaciones) is an obligatory state-wide tax, yet it has different conditions in different Autonomous Communities. AJD (Impuesto sobre Actos Jurídicos Documentados) is a tax that is determined by each Autonomous Community. Finally, there is IIVTNU (Impuesto de Plusvalía Municipal) which only applies to properties in urban zones.
If there is more than one heir, can we get a joint loan?
Yes, that is not a problem. As long as all the heirs agree to use the property you are due to inherit as collateral for the loan, you can all be equal borrowers.
This works exactly as if you were already legal owners of the property. It can be used as a guarantee as long as everyone that has legal claim to it (whether owner or heir) agrees to sign for the loan.
What documents do I need to provide to a get a loan to accept inheritance?
We will only require documents that are absolutely necessary. What´s more – you can send most of them via email or WhatsApp.
Most documents for a loan to accept inheritance are the same as for any other Suitaprest loan: IBI tax document for the property, identity document (such as DNI) and proof of income. Of course, accepting inheritance also has some specific legal needs – so you will also need to provide the will, certificate of ´últimas voluntades´ and certificate of ´defunción.´
Loan to address Asset Seizure
Can I get a loan if my property or assets are in the process of foreclosure?
At Suitaprest – yes. We collaborate with lenders whose criteria for people in your situation are exactly the same as for any other client. The liquidity from the loan can then be used to resolve your situation, and stop the seizure process.
How can I stop my property or assets from being seized?
Property or asset seizures can be initiated if you have defaulted on your debts. The only way to stop the seizure is to settle your outstanding debts with the lenders that have initiated the property seizure process.
At Suitaprest we work with clients to help you resolve this situation. Liquidity from the loan goes directly to settle the outstanding debts to stop the seizure – and any amount left over goes directly to you.
If I am in the process of foreclosure and get the loan, who gets the money from it?
As soon as the loan is issued, the required amount is sent directly to the entity that is reclaiming your debt – whether this is Hacienda, Social Security, banks or any other. This settles your debts, and stops the seizure process.
Any loan amount left over is then transferred directly to you, into a bank account that is most convenient for you.
Private Capital Loan
What is private capital?
´Private capital´ simply means that the money we lend belongs to individual investors, rather than institutional investors such as a bank. We are regulated and authorized by the Bank of Spain according to different laws compared to your bank.
What are the benefits of private capital?
Private capital lenders can generally be more flexible than traditional investors such as banks. Banks have an important responsibility to protect their customers´ funds, so they are more risk-averse when they assess potential borrowers.
On the other hand, private capital lenders can issue loans to customers that are turned down by traditional banks.
What are the downsides of private capital?
The main downside for a customer (borrower) is that private capital loans are more expensive than traditional bank loans.
The typical interest rate for a private capital loan in Spain is 10-13%, plus an opening fee or commission. This is because the lender is accepting a ´higher risk´ borrower, as defined by traditional banking criteria.
How do we work?
bank account on
the same day