You are one step closer to making your community efficient energetically
It is a loan for Communities of Owners1 who want to finance energy efficiency reforms or improvements in their buildings that, with the aim of saving on utility bills and also contribute positively to the environment. In order to access the financing, which will be formalized thanks to the "ICO Guarantees Residential Building Rehabilitation Line", the communities of owners must meet the following requirements:
- At least 70% of floor area above ground level, excluding the ground floor if it houses commercial premises, must be for residential use.
- Have an approved grant from the Autonomous Community where the building is located, within the scope of Royal Decree 853/2021, which regulates the aid programmes for residential rehabilitation and social housing as part of the Recovery, Transformation and Resilience Plan. The aid granted must correspond to one of the following programmes:
- Programme 1: aid for renovation activities at neighbourhood level.
- Programme 3: aid for renovation activities at building level.
Only one loan may be taken out for each residential building. This line is available until 30 November 2025 or until the ICO funds are exhausted (€2.2 billion).
This loan offers you:
- Amount: the lesser of:
- €30,000 per housing unit.
- The total budget amount (including VAT) minus the amount of aid already received (if applicable) for the same refurbishment project through any government aid programme.
- Repayment term: up to 10 years, including grace period.
- Grace period: : 1 -year grace period in the following cases:
- If the refurbishment project execution period will last longer than 9 months.
- If the financing for the refurbishment has a term of more than 4 years.
- Monthly repayment:
- During the grace period, monthly interest payments.
- During the repayment period, regular monthly payments on principal and interest (French amortisation system).
- Payment of instalments coinciding with the day the loan is formalised.
- Interest Rate: Fixed annual nominal interest 4.75% (APR 4.85%2).
- No fees:
- Arrangement fee: 0%.
- Early cancellation fee: 0%, to facilitate the repayment of the loan in the event that the community of property owners obtains a subsidy or aid from government funds.
Activities eligible for subsidies
- Activities eligible for subsidies are those involving the improvement or refurbishment of buildings for predominantly residential use, with special attention to the building envelope or shell, provided a reduction of at least 30% is achieved in non-renewable primary energy consumption, for the energy certification.
- In addition to the above, in buildings located in climate zones C, D and E according to the Technical Building Code climate classification, there must be a reduction in the overall annual energy requirements for heating and cooling the building (as applicable) of at least:
- Climate zones D and E: 35%.
- Climate zone C: 25%.
Distribution of climatic zones in Spain
* Orientation map according to the Technical Building Code.
Do you need to find a rehabilitation agent?
A rehabilitation agent is a professional who carries out the integral management of rehabilitation, from the initial work study to the management and processing of public aid, passing through the entire work process.
Know who collaborates with us:
1. Financing subject to prior approval by BANCO SANTANDER, S.A. The calculations offered, made using a French depreciation system, are indicative and, in any case, the operation is subject to subsequent approval, so it does not constitute a contract offer that binds Banco Santander. Request the European Standard Information (INE) at your office.
2. APR 4.85% Calculation made under the assumption of an operation carried out on the last day of the month with a fixed annual Nominal Interest Rate of 4.75%, in the case of a loan of € 500,000 to be amortized within a maximum period of 10 years, with an opening fee of 0.00%. French depreciation system. The resulting monthly fee will be € 5,242.39. Total amount owed of € 629,086.35 which includes requested amount (€ 500,000.00), commissions (€ 0.00) and interest (€ 129,086.35). Total cost of the loan €129,086.35.
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