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BankiaHousing Social Fund Agreement

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Bankia has signed up to the agreement to create a Housing Social Fund in accordance with Royal Decree-Law 27/2012 on urgent measures to strengthen the protection of mortgage debtors.

Bankia has contributed 1,982 properties to this fund, which will be offered to families that have been evicted, having defaulted on a mortgage loan that was previously granted by the bank.

Under this agreement, Bankia will study all of the submitted applications that fulfil the requirements for social housing. After analysing each case, it will contact customers to inform them about the documentation to be provided.

Criteria for evaluating applications

The Agreement details the eligibility requirements of the Social Fund:

Conditions for accessing leased properties

1. Private individuals that have been evicted from their regular home and that fulfil the following conditions may apply to be tenants to lease the properties in the social fund.

a) That the eviction has occurred as a consequence of an enforcement demand due to non-payment of a mortgage loan, initiated by Bankia.

b) That the eviction occurred after 1 January 2008.

c) That, at the time of application, the following circumstances apply:

1. That the combined income of the members of the family unit do not exceed the limit of three times the IPREM wage index. The limit will therefore be €22,365.42.

2. That none of the members of the family unit own their own home or have a usufruct right over a property.

d) That they are considered as a case of special vulnerability. Special vulnerability shall be deemed to be any of the following:

  • 1. Large family, according to the definition in current legislation.

  • 2. Single parent family unit responsible for two or more children.

  • 3. Family units with children under the legal age.

  • 4. A family unit in which one of its members has a registered disability of greater than 33%, is in a situation of dependency or has an accredited illness that permanently disables him/her from working.

  • 5. People in situations of dependency or with a disability for whom housing represents an indispensable element for maintaining their social inclusion and independence, according to the report by the competent social services that verifies such situations.

  • 6. A family unit in which the mortgage debtor is unemployed and has used up all his/her unemployment benefit.

  • 7. A family unit that cohabitates in the same property with one or more people that are related to the mortgage holder or his/her spouse up to the third level of kinship or association, and that one of its members is disabled, dependent or seriously ill, which has been accredited as temporarily or permanently disabling him/her from working.

  • 8. Family unit that includes a victim of gender violence, according to the definition in current legislation.

  • 9.  Elderly people in early-retirement or retirement situations that have assumed the debts of their children or grandchildren by means of a guarantee.

  • 10. Other people or family units in situations of social vulnerability, other than the aforementioned cases, that are identified by credit institutions, the municipal social services or non-governmental organisations that form part of the Third Sector Platform and are duly accredited to these credit institutions, for whom housing represents an indispensable element for maintaining their social inclusion, according to the report from the competent social services that verifies such situations.

2. A family unit shall be deemed to the group of people comprised of the applicant, his/her spouse, who is not legally separated, or a registered common-law partner, and the children, regardless of their age, that live in the property, including children associated through guardianship, custody or fostering.

3. The agreement also allows the financial institution to award housing in the Housing Social Fund to people that fulfil the aforementioned conditions and requirements and that:

a) Having been subject to mortgage enforcement proceedings that have resulted in foreclosure, have not been effectively evicted from the property and wish to continue to occupy it by renting it under the conditions of the agreement;

b) Have lost their home as a result of transferring their property in lieu of debt and that apply for social housing.

Criteria for evaluating applications

The Agreement describes the requirements for evaluating and prioritising the applications received:

In the prioritisation process, Bankia shall take into account the objective conditions that compound the cases of vulnerability. The following are therefore considered as priority criteria:

  • Multiple cases. The more cases that apply, the higher the priority.

  • Number of members of the family unit. The more members, the higher the priority.

  • Net income of the family unit. The lower the income, the higher the priority.

    Applications shall be prioritised according to these criteria.
    Other criteria such as the degree of disability, dependency or other conditions included in the reports submitted by the social services, shall also be considered in the process of prioritising applications.
Summary of the application process

Documentación

Contact telephone number

  • If you have any questions about the process, please call the following number: 902 24 68 10

Social Housing Pool Application

You must complete the registration form in order to apply for a property in the Social Housing Pool. Once registration has been confirmed, you will be granted access to the Private Area, in which you will be able to start your property application.

If you have any questions about the application procedure for a property of the Social Housing Pool, you can download the manual via the link below, which describes all the steps to follow.


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