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It affects private individuals resident in Spain who are in a vulnerable situation as a result of the spread of COVID-19. Complying with the criteria and requirements defined in Order TMA/378/2020, of 30 April, of the MITMA and which are included in Annex 1.
See Order TMA/378/2020 of 30 April defining the criteria and requirements to be met by tenants.
See here articles 16 to 27 of Royal Decree-Law 11/2020 of 31 March, adopting additional urgent measures in the social and economic area to deal with COVID-19.
In order for you, as the tenant of your primary residence, to be able to take advantage of the COVID-19 ICO rental contract scheme, established in the Royal Decree, you must comply with all these requirements:
The maximum amount of finance per loan operation may cover up to 100% of the amount of six monthly payments, in accordance with the housing rental contract in force and its extensions, with a maximum of 5,400 euros, based on a maximum of 900 euros per month per rental contract and loan. The maximum six monthly payments that can be financed may be dated from 1st April 2020 and may not be later than 6 months from the signing of the loan between the Bank and the Customer or after the end of the rental contract or its extensions.
The period for applying will be between 36 and 72 months.
The deadline for these applications is 31 May 2021.
The loan is at 0% NIR and with no charges of any kind. The tenant will only have to pay the monthly instalments that correspond to the capital borrowed.
Once the loan has been formalised, the payments will be made to the landlord's account, during which time no instalments will be required of the tenant. Once the loan is fully drawn down, monthly payments of the principal will be required from the tenant.
To prove the number of people living in the home:
To prove the work situation as unemployed or cessation of activity:
To prove the ownership of assets and other costs:
If this is not included in the rental contract, you must provide us with a current account for the landlord to transfer the funds to.
Proof of non-ownership/use of a home:
Enter the private area of Banco Santander's website, you will find this banner at the bottom of the page:
If you enter via the Banco Santander App, click on the contract section, then on the loan section and you will find the same banner as above. Click on it and apply for your ICO loan to pay the rent.
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Once the application has been made with all the required documentation, the Bank will process it within a maximum period of 15 days.
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