Loan home renovation
Loans to renovate your home
Loans to renovate your home
Any kind of renovation demands a large amount of money. And sometimes we don’t have the liquidity to cover it, or we simply don’t want to touch our savings.
To solve this problem, you can apply for a renovation loan with your house or flat as collateral. With a renovation loan you can have the home you’ve always wanted without worrying about the budget.
With these loans you can cover renovations, alterations and changes to the decor. And transform your property into a space adapted to you and your needs.
What are you waiting for to have the home of your dreams? Start your property renovation plans as soon as possible with a private capital loan.
What requirements must be met to apply for renovation loans?
As it’s a mortgage-backed loan, it’s essential to have a property in your name.
You can use the property to be renovated itself, another property you own, or the property of a friend or relative. Bear in mind that with home renovation loans you can only apply for up to 30% of the value of the property used as collateral, and we’ll ask you for:
- DNI or identity document.
- The property’s IBI receipt.
- Proof of stable income.
Are there any formalities for this type of loan?
Unlike a bank or other financial institution, at Prestamo Capital we prioritise speed and transparency. We set paperwork aside: we’ll only ask for the documents mentioned above. Send your application and leave the rest in our hands.
How much money can be requested in home renovation loans?
The total amount will depend on the valuation of the property you put up as collateral. We offer a maximum of 30% of the property’s value, with amounts ranging from €20,000 to €3,000,000 in home renovation loans.
The best home renovation loans at Prestamo Capital
As a property owner, you can access home renovation loans to cover the costs of remodelling. Get the money you need to have the house or flat you deserve.
Advantages of our home renovation loans
With home renovation loans, you can create the home of your dreams and enjoy a more functional flat or house adapted to your needs.
In general, renovations and remodelling increase the property’s value. Something valuable for you to enjoy now and in case you want to sell it in the future.
A renovation loan is also a great option for rental or holiday flats, where you can increase your return.
With Prestamo Capital’s home renovation loans you can use the money for whatever you want. From remodelling a bathroom to paying a landscaper or buying all the furniture for the house.
What are the conditions of home renovation loans?
When we receive your application and documentation, our team will carry out a free, personalised study. We analyse your situation to check that a renovation loan is the best option for you.
If you meet the requirements, we offer up to 30% of the value of the property used as collateral. You can choose the repayment terms that best suit your financial situation, from 10 to 20 years.
How do I apply for a renovation loan?
Our system is simple and fast, so you can start renovating your house or flat as soon as possible. To access a home renovation loan, send an application using our form and have the required documentation to hand.
In just 24 hours our team will analyse your case and tell you whether you qualify for our renovation loans. With the documentation you send us, we’ll carry out a valuation of the property to define the amount of money you can apply for.
The next step is to negotiate the conditions of your loan: total amount and repayment terms. Once agreed, we’ll set a day for signing the contract before a notary. You’ll receive the money on the day of signing, in the bank account of your choice.
Grants for home renovation: what are they?
Within the State Housing Plan 2018-2021, the Spanish government created a system of grants.
These grants are for refurbishment, promoting energy savings and improving accessibility. The plan includes a total of 9 different programmes, the most notable being:
- Programme 5: improving energy efficiency and sustainability.
- Programme 6: conservation, safety and accessibility improvements.
- Programme 7: urban and rural regeneration and renewal.
With these grants, owners can carry out exterior and interior renovations, provided they are necessary and justified for one of these purposes.
In general, these programmes are aimed at buildings built before 1996 that are at least 50% primary residences. These grants have undoubtedly been a big step towards improving the housing situation in Spain.
But for now they focus on improving quality of life, especially in old buildings, rather than meeting individual or aesthetic needs, as home renovation loans do.
Why choose our loans?
Apply online
Start the process through our form, by email or by phone.
Flexible terms
A loan to pay comfortably in instalments for the home of your dreams, over 10 to 20 years.
No need to change banks
Receive your renovation loan in your bank on the day of signing.
For property owners
If you own a house or flat, you can access our renovation loans and improve your home.
Frequently asked questions about property renovation loans
What do I need to apply for a renovation loan?
As with the rest of our private capital loans, we require a property in your name as collateral. To apply for a loan you’ll need to present your identity document, proof of stable income and the IBI receipt of the property used as collateral.
Do the property used as collateral and the one being renovated have to be the same?
Although this is the most common situation, it’s not essential when applying for one of these loans. You may want to renovate a second home but use the flat where you live permanently as collateral. That way, you can access a larger amount of money.
Can this loan be used to renovate a home I’m going to inherit?
Our renovation loans are perfect for any type of property, even inherited ones. You can apply for a loan using the property you’re going to inherit as collateral, provided it’s free of charges or has a small outstanding mortgage. If there are several heirs, they must all agree to apply for the loan.
Is it possible to request more money if the property’s value increases?
We need to assess each situation individually. But if you can show that the value has increased, with details of works you’ve done or are going to do, the loan can be renegotiated.
What are the advantages of home renovation loans?
One of the biggest advantages of renovation loans is that you get the liquidity you need. With this money you can pay for materials, workers, permits, furniture and more.
