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.
