Promotor Loan

We support you during all phases of your real estate project. The Préstamo Promotor helps you finance your construction, rehabilitation and property sales project.

Financing for your real estate project

If your activity is property development, through the Préstamo Promotor, we at Banco Santander can offer you a whole range of products aimed at financing the construction or rehabilitation of homes for sale. With the possibility that the buyers being subrogated in any of the Mortgage Loan formats that the Bank offers.

We support you during all phases of your real estate project. In 2019, we financed the construction of almost 300 residential developments, with a preference for high energy efficiency and sustainability projects and which offer the maximum guarantees, both to the developer and to the buyer and undertaking a commitment to society.

What does it allow me to do?

The Santander Préstamo Promotor:

allows you to finance the construction or rehabilitation of houses, granting the developer a grace period during the works phase, during which they only pay the interest accrued on the part drawn down of the loan.
offers comprehensive management during each phase of the project, advising you on the best collection and payment solutions during the construction and sale processes:

allows you to open of a separate special account in which to pay the payments on account of the buyers to the promoter.
allows you to establish a Confirming limit to channel payments to suppliers.
establishes a guarantee limit to guarantee the payments on account of buyers.

facilitates the sale of the houses once built, with the possibility of the subrogation of the buyers in any of the formats of our loans under beneficial conditions.

How to arrange it

If you want to arrange a Préstamo Promotor, go toto your closest Santander branch.

Operation subject to prior approval by the Bank.

Shall we discuss it?

If you would like more information, visit any of our branch offices.

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Advantages of arranging a Préstamo Promotor

By contracting the Banco Santander Préstamo Promotor, you will be able to have financing as the work progresses, paying interest only on the amounts drawn down during the construction phase and amortising the loan with the subrogation of the end buyers of the homes.

In addition, the Préstamo Promotor includes a series of complementary products and servicesz associated with this type of real estate projects:

Developer Mortgage Loan.
Special buyers account.
Line of technical guarantees before the Public Administrations involved.
Reserve line of guarantees.
Line of guarantees Law 38/1999 on Building Standards.
Developer Confirming.
Management of receipts for payments of the buyers.
Mortgage subrogation.

Conditions

These are the requirements for arranging the Banco Santander Préstamo Promotor:

Amount: up to 80% of the RRP and/or appraisal value of the project.
Term: up to 36 months grace period to complete the work and up to 360 months financing for the buyer.
Costs: arrangement/subrogation commission (% of the transaction limit), spread (referenced to the Euribor + spread) and other necessary administration costs.
Frequency of settlements and amortisations: monthly or quarterly.
Guarantee: mortgage of the project being financed and potentially other types of guarantees if necessary.
Formalisation: mortgage deed executed before a notary public detailing the conditions of the product and the associated costs.