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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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The City Council opens sanction proceedings against the Vauras Investment Fund that could involve fines of half a million euros

05/03/2020 - 09:13

Habitatge. Vauras, owners of Bloc Llavors, have refused to offer a social rent to the six families who were occupying the property, despite being bound to do so by Decree Law 17/2019

The Councillor for Housing and Rehabilitation, Lucía Martín, has announced that Barcelona City Council has opened sanction proceedings against the Vauras Investment Fund for not having offered social rent to the six families in a situation of vulnerability who were occupying the building up until last Tuesday, 2nd March. The fine for each of these failures could amount to 90,000 euros and therefore the total penalty could reach up to half a million euros. However, Martín has explained that the City Council has no desire to impose these sanctions. “We do not want to collect these fines; we want to force the large organisations that have caused this housing emergency to share responsibility and to look for solutions that must include offering social rents. The search for solutions is not solely the responsibility of the City Council; the responsibility must also fall to these large owners who have hit the jackpot with the housing crisis which they have also caused.”

The possibility of fining the Vauras Investment Fund for its actions in the case of Bloc Llavors comes from Decree Law 17/2019, recently approved by the Government of the Generalitat. This decree obliges large landlords to offer social rents to those vulnerable families whose rental contracts have ended, who are facing eviction proceedings or who have occupied the property for more than six months without a contract. The latter is the case with the six vulnerable families who, until 2nd March, occupied Bloc Llavors on Carrer Lleida, in the district of Poble Sec. This decree, however, has been questioned by judges who have considered it to be simply an administrative rule without judicial effect, and it is this that has made possible the new eviction order executed today. Martín condemned the judges for making a “restrictive and inappropriate interpretation” of this decree and announced that the City Council will work to ensure it comes into effect.

She also criticised the Government of the Generalitat, who, “on the one hand passed a protective law and on the other, deployed a disproportionate police presence to make it easier for the law not to be applied”. She also complained that the strong police presence had hampered the activities of the municipal services in caring for the families when they should have been making it easier.

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