Mortgage advice service

www.barcelona.cat

Housing Glossary

You will find information here on all topics relating to housing in Barcelona

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

Accrued interest

The interest applied as a penalisation when the debtor does not comply with repayment obligations. The amount must be established in the contract.

Active supermortgage

This allows the client to choose their loan's benchmark index (MIBOR at three months, six months or a year) so that payment can benefit from lower interest rates sooner.

Adaptable instalment

Characteristic of UCI superloans that allow the borrower to not pay one instalment a year for the first three years if there are problems due to holidays, extraordinary expenses, etc.

Advanced cancellation fee

A commission arising from the financial risk involved in the advanced cancellation of an operation. The applied commission compensates the financial institution for its financial losses.

AEDE

Direct state aid for paying the deposit on a property.

Affordable housing

Group of social housing or dwellings from social renovation projects that are sold or rented at below-market prices.

Affordable rent

The cost of renting these dwellings is below market prices after being included in operations concerning the rented flat pool, social renovation or social housing promotions.

Amortisation

Payment made to repay a loan.

Amortisation period

The duration of the loan. The contract establishes the date of the first and last payments. The longer the period, the lower the payments are, but the higher the interest. You therefore pay more in the end. The monthly instalment should not exceed 35% of your net income.

API

Estate agent. A qualified professional who acts as an intermediary between the two interested parties to facilitate the signing of a real estate contract, which can be a rental agreement, a sales agreement or another similar contract. They usually charge a percentage of the sales price as compensation or commission.

Applicant

A citizen who makes a registration application to the Barcelona Social Housing Applicants Registry, and who represents the other members of the dwelling unit included in the application.

APR

Annual Equivalent Rate. Effective annual cost of the mortgage in terms of interest, commissions and the repayment period. To compare loans, it is not enough to just look at the lowest APR, you also have to compare the conditions, the repayment period and the distribution of instalment payments.

Arbitri municipal de plusvàlua

Former denomination of the capital gains tax on landed property.

Assessment

The value of a dwelling certified by a specialised assessment company, in accordance with the mortgage market law. This certificate not only indicates the real value of the property, it also serves as a reference for obtaining the necessary financing.

Authorisation

Document in which the owner authorises the tenant to carry out building work in the dwelling's interior.

Housing offices only offer face-to-face assistance by prior appointment, so check out the “Housing calls you” service here to receive the most appropriate personalised assistance. If you also need assistance in energy rights, book an appointment with an energy-advice point (PAE) by clicking here. On the other hand, if you reside in an IMHAB public dwelling you can consult our contact, management and processing channels here.

A city resident receiving advice in a municipal office

Would you like us to help you speak to the bank about your mortgage arrears? Would you like us to help you keep your home?

Ofideute: advice service on mortgage arrears

Advice service for people facing financial difficulties

Barcelona City Council and the Generalitat of Catalonia, through the Barcelona Housing Consortium (CHB), offer citizens a mediation and advice service.

The 'Ofideute' is a free information and advice service for people facing financial difficulties that put them at risk of losing their home. At one of the Housing Offices, a proposed solution will be drawn up and forwarded to the Catalan Housing Agency which will get in touch with the financial institutions.

Highlights

Want to know more about it?

In these dropdown menus you will find additional information but remember that the best way to find out more is to book an appointment at one of the Housing Offices.

Who is it for?

Families with a mortgage who own just one property which is used as their main abode.
Loan guarantors with a mortgage guarantee who, for reasons of non-payment, are at risk of losing their main abode.
Mortgage customers, guarantors and third parties that:
- Detect any abusive clauses or practices in the loan or mortgage contract.
- Have difficulties repaying the loan or mortgage, or anticipate having difficulty making future payments.
- Have received notice of commencement of the foreclosure process on their habitual abode, due to the debtor's failure to fulfil the contract terms.
People at risk of losing their rented habitual abode.

Aim

The Ofideute is a tool that ensures more efficient communication between the financial institutions and the tenants because, with the intervention of Barcelona City Council, it seeks to successfully resolve the problem and avoid the use of other more aggressive debt recovery methods.

Housing