The new build was fully paid. The completion inspection was slow to arrive. The capital sat locked.
A buyer had paid for the new build entirely from his own funds — and was waiting for the completion inspection. Without it, no land registry entry; without the registry entry, no mortgage.
Information
The starting position wasn't unusual, just uncomfortable: the purchase price was settled, the building stood finished, and the municipality was taking its time. Based on the information the client had when he came to us, he would have had to wait roughly two more years before the completion inspection, including the Licencia de Primera Ocupación, went through. Until then: no registry entry, no mortgage, no access to the capital already committed.
Standard Spanish banks don't help at this point. They only pay out once the completion inspection has happened — exactly the event the client was already waiting for. Anyone who can't or won't wait finds no partner there.
We arranged the financing for him. Even someone who has already paid in full can subsequently raise part of the capital committed as financing — up to 70% of the tasación, even if the equity used was considerably higher. The money isn't lost, it's parked.
Timing is decisive. Ideally before the completion inspection. Once the building has already been signed off, our experience shows only a short window remains for financing and registration — the bank sets the exact terms. Miss it, and you're no longer a buyer arranging financing but the owner of a paid-off property: only a remortgage of an existing asset applies then, typically up to 50% instead of up to 70%.
Case status: closed — financing arranged
Anonymised case report from our own brokerage practice. Property details, amounts and personal information have been omitted or altered to protect our clients. Every financing case is assessed individually; no claim to an identical outcome follows from any single case.
The structure behind it
Of the 15 to 20 institutions we approach per case, one pays the developer instalments before the building has been signed off (Perini market check, as of 14.07.2026). This is exactly where new-build purchases by non-residents fail — not on creditworthiness, but on the documentation required upfront.