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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

Housing offices only offer face-to-face assistance by prior appointment, so check out the “Housing calls you” service here to receive the most appropriate personalised assistance. If you also need assistance in energy rights, book an appointment with an energy-advice point (PAE) by clicking here. On the other hand, if you reside in an IMHAB public dwelling you can consult our contact, management and processing channels here.​

Funding for initiatives from the cooperative, social and solidarity economy

25/01/2018 - 17:10

Economy. A municipal credit fund with pooled resources from two ethical finance entities provides cover for initiatives from the alternative economy with greater financial risks.

A municipal credit fund with pooled resources from the ethical finance entities Fiare and Coop 57 means greater access to funding for initiatives from the social and solidarity economy. The fund covers the eventual financial risk faced by initiatives entitled to specific new credit lines offered by each entity, each for one million euros.

The municipal credit fund involves a contribution of 100,000 euros each from the City Council and the two ethical finance entities. The fund will only become active should companies or projects not be able to cover the payment of credit extended to them.

The First Deputy Mayor, Gerardo Pisarello, declared that backing for the social and solidarity economy forms part of the city’s DNA and international reputation: “This public-community collaboration shows that a new way of managing the economy and democratising credit is possible”.

Some projects have already been funded with the specially-created credit lines, thanks to the existence of this fund. Fiare and Coop57 have opened up lines of a million euros each. The risks generated by initiatives eligible for this credit may eventually be covered by the pooled fund of 100,000 euros if necessary.

Some of the projects which have already been financed thanks to the fund include the work cooperative Art & Coop, SCCL; two projects with a clear feminist perspective, La Raposa and Xarxa DDiPAS; the architects’ cooperative La Baula, and the cooperative bookshop La Carbonera.

The credit has also enabled two commercial companies which had ceased their activity for different reasons to become cooperatives: the school Nou Patufet, SCCL, and the gymnasium Gimnàs Sant Pau, SCCL.

The initiative forms part of the plan to boost the social and solidarity economy between 2016 and 2019, the overall aim being to strengthen and promote initiatives working with social justice criteria. The fund comes in addition to other initiatives, such as the package of subsidies for the value of 4 million euros aimed at entities from the social and solidarity economy, and the backing provided for socio-economic projects in the neighbourhoods.

 

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