The president of the Santander bank in Spain, Ana Botín, has announced that the bank is leading a project, together with the construction sector and the ICO ("Instituto de Crédito Oficial", a public bank attached to the Ministry of Economy and Business), to promote access to housing for young people. Santander intends to launch a programme to provide mortgages of up to 95% of the value of the property to this segment of the population, as confirmed by Botín in an interview with El País.
For the moment, it is still only a project, but the bank has already made an estimate of the impact this would have on the job market. In this regard, Botín explains that the programme would create nearly half a million jobs that would translate into the construction of 150,000 new homes.
"It will help thousands of young people to become independent," said the president of Santander who also explained that the programme would be a public-private partnership with the ICO and companies related to the real estate sector. If it were to become a reality, young people - one of the segments of the population with the most problems in accessing housing - would only have to contribute 5% of the total value of the property. Santander would grant a 95% mortgage, while the ICO would guarantee up to 20% of the loan.
Botín also talked about the public guarantee programme launched by the government. The President stressed that it is a "tested" model and that it is "working well in general, although she recognised "some specific problems".
The Banco Santander boss also wanted to assess the impact of the coronavirus on the European business community. Botín further stated that, although the European Union must understand that "solidarity is not charity," member countries must also understand that it is necessary "to be responsible and do everything necessary for companies to survive.
Article seen at: Ana Botín: “Europa debe entender que la solidaridad no es caridad” (El País)
How much does a home electrical installation cost in Spain?
How much does it cost to install or replace a home's electrical system?It’s one of the most common questions among those renovating or building a home from scratch.
Expat Taxes: Spain vs Portugal - A 2025 Guide for Foreign Residents
If you're considering relocating to Southern Europe, understanding how taxation differs between Spain and Portugal is essential.
How much does it cost to move in Spain in 2025?
One of the most common questions when preparing to move in Spain is: how much will it cost?
Spain vs. Portugal Cost of Living
If you're weighing up a move to southern Europe, Spain and Portugal are two of the most appealing destinations for expats and retirees alike.
School holidays in Spain: 2025-2026 dates
As the 2025–2026 school year approaches, some regions in Spain have already started confirming their term dates. School calendars can be a bit of a minefield here, especially with each autonomous community setting its own schedule on top of the national holidays that everyone enjoys.
Mortgage brokers in Spain: what they do, costs and key functions
One of the main challenges when purchasing a home is securing a mortgage that satisfies both your requirements and those of the lender. This process demands extensive documentation and clear evidence of financial standing, not only to obtain favourable terms but also to gain access to the mortgage market in the first place.
Mortgages in Spain for non-residents: your guide to buying a property with a Spanish mortgage
Are you a non-resident looking to buy property in Spain? Whether it’s a holiday home or an investment, understanding your mortgage options as a non-resident is essential before making a purchase. This guide explains how non-residents can secure a mortgage in Spain, typical lending conditions, and tips to improve your chances of approval.