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.
Refurbishment Loan
You are one step away
from your dream renovation
Would you like to do something special to your home, property or business, but don’t have the funds to do so? Don’t worry, at Suitaprest we can offer you a solution.
This property refurbishment loan will help you turn your property into your dream space. If you have acquired a new residence, bought a place for your next entrepreneurial adventure or are just tired of seeing the same decor every day, this mortgage-backed loan is right for you.
Our property refurbishment loan will help you turn your property into your dream space. If you have acquired a new residence, bought a place for your next entrepreneurial adventure or are just tired of seeing the same decor every day - this mortgage-backed loan is right for you.
Benefits of Property Refurbishment
New possibilities
Start the home project of your dreams and enjoy it with your family.
Higher profitability
Add value to your property, whether you are selling or renting out, and invest in your future.
For owners
If you own a debt-free property or only have a small mortgage to pay, you can use the property itself to finance renovation work.
Without changing bank
Just provide us with your bank account details and you’ll receive the money – no need to change bank.
Benefits
New possibilities
Start the home project of your dreams and enjoy it with your family.
Higher profitability
Add value to your property, whether you are selling or renting out, and invest in your future.
For owners
If you own a debt-free property or only have a small mortgage to pay, you can use the property itself to finance renovation work.
Without changing bank
Just provide us with your bank account details and you’ll receive the money – no need to change bank.
At Suitaprest, we take your projects seriously. That is why we offer fully personalized assessment and service right from the start.
We have more than 300 collaborators across Spain, as well as extensive knowledge of business banking and the Spanish real estate market. Our many years of experience means you are guaranteed to get the best property assessment, enabling you to increase the value of your real estate to sell or rent in the future.
At Suitaprest, we take your projects seriously. That is why we offer fully personalized assessment and service right from the start.
We have more than 300 collaborators across Spain, as well as extensive knowledge of business banking and the Spanish real estate market. Our many years´ experience means you are guaranteed to get the best property assessment, enabling you to increase the value of your real estate to sell or rent in the future.
How do we work?
bank account on
the same day
Frequently asked questions
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.
How long do I have to pay back the loan?
The maximum repayment period is 20 years, but this 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.
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 necessary. 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.