According to the bank, by the end of March, over 1,300 contracts were signed with young people for housing credit with a public guarantee.
The total value of these home purchase loans exceeds 250 million euros.
The public guarantee for housing credit is applicable to young people up to and including 35 years of age for contracts signed until the end of 2026. This allows the State to act as a guarantor for up to 15% of the transaction value.
The Government has set the maximum amount of public guarantee at 1.2 billion euros, with a quota allocated to each bank (Santander Totta’s quota is 259 million euros). However, there is room for this amount to be increased if banks exhaust it and request more.
In practice, by combining this guarantee with the rules for granting housing credit, the measure enables young people to secure 100% of the house valuation, instead of the 90% cap applied to most clients.
This housing credit guarantee benefits individuals aged between 18 and 35 (inclusive) who are purchasing their first permanent residence with a value not exceeding 450,000 euros.
Beneficiaries must not own urban buildings or urban building fractions and cannot have incomes exceeding the eighth IRS bracket (approximately 81,000 euros of annual taxable income).
Santander Totta announced today that it recorded profits of 268.8 million euros in the first quarter, a decrease of 8.7% compared to the first three months of 2024.
The bank did not hold a press conference to present these results.
Santander Totta is part of the Spanish banking group Santander. The financial group reported today a profit of 3.402 billion euros in the first quarter of the year, a 19% increase compared to the same period in 2024.
