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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.

Close glossary

Agreement reached for vulnerable families to carry on living at Carrer de l’Hospital, 99

15/07/2019 - 14:30

Housing. The owner has pledged to halt the eviction process and the families in question will pay below-market rents.

An agreement has been reached to resolve the pressing situation of seven families facing an eviction process at a building in Carrer de l’Hospital, owed by the investment fund Anticipa. The fund was seeking to empty the building, renovate the flats and rent them out on the open market.

The agreement was reached with the three parties involved: the families affected, the company which owns the building and social entities providing support for the families.

Anticipa, the company which owns the building, has pledged to let the vulnerable families stay on with affordable rents and to progressively renovate the flats in the building without the families having to leave at any point.

Seven-year rent contracts

The rent contracts for vulnerable families will be for seven years, with an affordable price in line with their income, to be complemented up to roughly 700 euros a month. The commitment by all parties means that two thirds of the building will continue to have affordable rents and be used by local residents.

The City Council will also be offering the families access to benefit programmes to help pay their rent, depending on their situation.

 

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