Home Improvement Loan

It is a consumer loan designed to finance renovation work or improvements to your home. You choose the amount and repayment term and then repay it through monthly instalments. The distinguishing feature is the use of the funds: they are meant for home improvements and, where applicable, energy efficiency upgrades.

Heating, cooling and hot water

• Purchase of household appliances with the highest EU Energy Label rating available for the relevant appliance category.
• Installation of heating, cooling and domestic hot water (DHW) systems with the highest levels of energy efficiency.
• Condensing boilers: installation of heating and hot water systems that use condensing boilers.
• Heat pumps: installation of heating and cooling systems that use heat pumps, whether split-system or ducted.
• Air-source heat pumps: installation of heating, cooling and domestic hot water systems that use air-source heat pump technology.
• Ground-source heat pumps: installation of geothermal systems that convert heat from the ground into thermal energy for heating, cooling and domestic hot water.

Home monitoring and automation

• Smart meters for water, gas, electricity, ventilation and air conditioning to support efficient energy management within your home.
• Sensor equipment, including motion and daylight controls.
• Roof and façade elements featuring solar shading or solar-control functions.

Façade and building envelope insulation

• Replacement of external windows and doors: Installation of aluminium or PVC windows and doors with thermal breaks and low-emissivity double glazing that meets the energy-efficiency requirements set out in Spain’s Technical Building Code.
• External Thermal Insulation Composite System (ETICS).
• Ventilated façade systems.

The online loan does not carry an arrangement fee or assessment fee. You will pay only the agreed interest, which will be clearly and transparently disclosed before you take out the loan.

If you choose to repay the loan early, an early repayment fee of 1% will apply where the period between the early repayment date and the loan maturity date exceeds one year, and 0.5% where that period does not exceed one year.

Provided the loan is approved, the funds will be paid into your current account immediately after you sign the loan documentation using your multichannel signature. The entire process is completed online and without paperwork.

Yes. You can make a full or partial early repayment whenever you wish.

  If you choose to repay the loan early, an early repayment fee of 1% will apply where the period between the early repayment date and the loan maturity date exceeds one year, and 0.5% where that period does not exceed one year.

If you fail to make a repayment, you will be required to pay late-payment interest and any costs associated with notifying and pursuing outstanding debts, as set out in the pre-contractual information and the loan agreement. Note also that missed or late repayments may affect your credit history and your ability to obtain credit in the future, and could result in legal action being taken to recover the debt.

If you anticipate any difficulties in making your repayments, we recommend that you contact us as soon as possible.

Your loan repayments will be debited automatically from your bank account on the first day of each month until the loan reaches maturity.

All repayments will be for the same amount throughout the term of the loan, with the exception of the first repayment, which will consist solely of the interest accrued between the date the loan funds are credited to your account and the first day of the month following the signing of the loan agreement.

 If you have enabled alerts in Online Banking, we will notify you a few days in advance of the amount payable and when it will be charged, so that you can ensure sufficient funds are available in your account.

Yes. You may exercise your right of withdrawal within 14 calendar days of taking out the loan and cancel the agreement. In this case, no cancellation fee will apply. You will only be required to repay the amount borrowed together with the interest accrued from the date the loan funds were credited to your account until the date you exercise your right of withdrawal.

You can exercise your right of withdrawal through Online Banking, at a Santander branch or by calling Superlínea. You will have 30 days from the date of your withdrawal request to repay the outstanding principal and any accrued interest.