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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.

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Housing renovation subsidies announced

14/04/2019 - 09:59

Housing. Subsidies are available to renovate home interiors and common elements in buildings.

The Housing Consortium has published this year’s three grant calls for the renovation of buildings, offering subsidies to renew home interiors and common elements in buildings. The call also offers help via the programme for highly complex buildings, part of the Neighbourhood Plan.

The main new feature in this year’s call is that owner communities can apply for soft loans, funded via the Catalan Institute of Finance, to pay for the part of the work not covered by subsidies. The loans can cover the full cost of the budget, up to a maximum of 30,000 euros, and will be for a maximum period of 15 years with an interest rate of 2%, funded by the Government of Catalonia.

Common elements in buildings

Subsidies cover the renovation of the following elements:

  • Home interiors
  • Structural work
  • Façades, patios, skylights, stairs, party walls and foyers
  • Installation of lifts
  • Removal of architectural barriers and obsolete elements
  • General common facilities
  • Work to save energy, installation of solar power and green rooftops
  • Direct water connections
  • Programmes for social cohesion
  • Programmes in urban zones of special interest, including Turó de la Peira, Baró de Viver, the south-eastern area of the Besòs, the Sant Ramon conservation area and areas where the superblocks programme is being implemented.

The application period opens on 30 June and ends on 31 December.

In the case of rented homes for which subsidies are applied for, the price of the rent must respect the rented property pricing index of the Government of Catalonia. This index was set up jointly with Barcelona City Council.

Initiatives introduced in previous calls still apply, such as the obligation to extend contracts up to a minimum of five years after the subsidy and the exclusion of tourist lets from the subsidies. Owners of empty flats may apply for subsidies only if they include the home in the rental property pool.

Subsidies from the 2018 call which have not yet been resolved will automatically be included in the 2019 call.

More information on renovation grants for common housing elements can be found here.

Home interiors

Subsidies for the interior renovation of homes that will subsequently go into the rented housing pool can cover up to 100% of the cost of the work, up to a maximum of 20,000 euros per home.

The appication period for these subsidies closes on 29 November.

Highly complex buildings

In 2018 the Neighbourhood Plan started a programme to renovate properties which do not benefit from ordinary grant calls due to their socioeconomic complexity.

The programme makes use of multidisciplinary teams of architects, social workers, administrative and legal specialists, who provide advice, review cases, draft documents and more, helping communities of residents in the renovation process.

This call also increases the funding from last year, with an additional 2.2 million euros.

More information on renovation grants for highly complex buildings can be found here.

 

 

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