The autopromotor mortgage loan finances the construction of a home on your property's urban land. Unlike other mortgage loans, the construction is financed, not the purchase. This is why it also has the unusual feature that the amount financed is deposited in a special account, and it is made available as the work progresses, subject to BBVA's approval.
The autopromotor mortgage loan is a loan for Spanish residents whose income and assets are exclusively in euros.
In addition, to apply, you must have:
- Urban land free of encumbrances, registered in the Land Registry.
- Own funds: 30-40% of the total investment.
- Municipal works license and the plans approved by the College of Architects.