Development Finance
Senior debt, stretch senior and mezzanine facilities for ground-up construction, conversion and refurbishment schemes across mainland Spain and the Islands.
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Last updated Reviewed by our Clifton International finance team.
In short
Spanish development finance funds land, build costs and professional fees in staged drawdowns against a monitored programme, typically to 60–70% of total cost or around 60% of gross development value. It is priced monthly, runs for the build period and is repaid from unit sales or an exit facility.
At a glance
Figures reviewed:
Indicative figures for guidance only, correct as at July 2026. Rates, costs and timelines vary by lender, borrower profile, asset and jurisdiction, and are not an offer of finance. How we derive these figures.
Last reviewed . Read the full Key facts methodology, or speak to our team for a quote based on your circumstances.
At a glance
Ground-up, refurbishment and exit facilities are priced differently because the risk profile at each stage differs.
| Facility | Typical leverage | Indicative pricing | Term | Use case |
|---|---|---|---|---|
| Land acquisition | 50–60% of land value | 0.9–1.2% pcm | 6–18 months | Securing a consented site |
| Ground-up development | 60–70% LTC / 60% LTGDV | 0.85–1.15% pcm | 12–30 months | New build schemes |
| Refurbishment / rehabilitation | 65–70% LTC | 0.8–1.1% pcm | 6–18 months | Repositioning an existing asset |
| Development exit | Up to 70% of value | 0.65–0.85% pcm | 6–18 months | Cheaper finance post-completion |
Swipe the table sideways to see all columns.
Indicative figures only. Actual terms depend on borrower profile, asset and lender criteria.
Popular Spain finance
Why clients choose us
Facilities structured against site value and GDV, with staged drawdowns as the scheme progresses.
Preferred terms for developers with a demonstrable track record of comparable Spanish schemes.
UK developers with domestic track record but no prior Spanish scheme — cases are structured carefully to support first entrants.
SPV, corporate and international ownership structures arranged with input from Spanish counsel.
Development exit and hold facilities structured in parallel to preserve optionality on sales pace.
Direct lender introductions and negotiated terms without publicising your project prematurely.
Borrower eligibility
Typical lending criteria
Indicative only. Actual terms depend on borrower profile, asset and lender criteria.
Discuss your Spanish development scheme with a international specialist. Book a confidential, no-obligation call at a time that suits you.
Direct introductions to Spanish banks, international private banks and specialist development lenders active across the €3m – €75m+ range.
Case studies
Real deals arranged — with the scenario, the structure and the outcome. Every transaction is different; these illustrate how we think.
€4.5m · 43% LTV · 36 days to funding
A developer needed structured financing to continue the development of a residential building in a strategic location in Palma, with construction already significantly progressed and commercialisation to follow on completion.
Following a comprehensive transaction analysis covering construction progress and the asset's market value, our specialist partners structured a tailored developer loan aimed at driving project execution and its subsequent commercialisation.
€6m · 60% LTV · 18-month bridge
A completed 14-unit residential scheme required a bridge into a longer-term facility to avoid discounting units on completion of the senior debt.
Our specialist partners structured an 18-month bridge with interest retained, allowing the developer to sell units at target values without pressure.
Recent transactions
Published transactions from our own case study library — select any to read the full brief.
Mallorca · Development
€4.5m · 43% LTV · 36 days to funding
€4.5m developer loan at 43% LTV to complete a 6-unit residential building in a strategic Palma location. Funding delivered within 36 days.
Costa Blanca · Exit
€6m · 60% LTV · 18-month bridge
€6m 18-month development exit bridge with interest retained, allowing a Costa Blanca developer to sell 14 completed units at target values without discounting.
Estepona · Non-Resident Mortgage
€1.6m purchase · 70% LTV · primary residence
A 70% LTV Spanish mortgage was secured through a specialist partner for a UK tax-resident international professional relocating to a €1.6m primary residence in Estepona.
Frequently asked
Ideally a demonstrable track record of comparable schemes. First-time-to-Spain developers with UK track record are welcomed on a case-by-case basis.
Yes — either as part of the senior facility or via a separate site acquisition loan refinanced on the day of drawdown.
Typically 25–35% of total scheme costs, though mezzanine can be layered in to reduce equity requirements.
Indicative terms in 2–3 weeks; drawdown in 10–14 weeks depending on legal and valuation complexity.
Lender appetite matrix
New-build off-plan — appetite across every buyer profile. Indicative panel appetite reviewed July 2026 — not an offer of finance.
UK buyer (non-resident)
Offer usually issued near completion, so stage payments come from own funds.
Buyer guideUS buyer (non-resident)
Long build timelines plus US compliance leave very few lenders.
US buyers & off-plan guideUAE / GCC-based buyer
Panel narrows; developers usually want staged cash before an offer exists.
Buyer guideEU buyer (non-resident)
Widest off-plan appetite of any non-resident profile.
Buyer guideSwiss / Norwegian buyer
Available, with the offer confirmed close to handover.
Buyer guideSpanish resident / fiscal resident
Developer-linked lending and subrogation of the builder's loan available.
Corporate / SPV purchase
Rarely funded before completion; bridging covers the gap.
Buyer guideProof of delivery
Spanish development and exit facilities we have arranged for residential schemes.
€4.5m developer loan at 43% LTV to complete a 6-unit residential building in a strategic Palma location. Funding delivered within 36 days.
€6m 18-month development exit bridge with interest retained, allowing a Costa Blanca developer to sell 14 completed units at target values without discounting.
€3m 12-month bridge secured against an Ibiza residence to fund development works on a London property — placed with a private lender when other brokers could not.
Related bridging & development finance
Dedicated landing pages for each bridging use case and development stage — with typical structures, eligibility and example transactions.
Time-critical acquisitions, auction, off-market and chain-break completions.
View pageRefinance existing Spanish debt, cancel embargoes and restructure onto cleaner terms.
View pageRelease equity from Spanish real estate to fund operating capital or growth.
View pageFast cash advance against Spanish property with a defined exit route.
View pageShort-term facilities for professional investors executing on Spanish opportunities.
View pagePartial land funding on consented and pre-consented sites, rolling into senior debt on planning grant.
View pageSenior debt for new-build residential and mixed-use schemes with staged drawdowns.
View pageRefurbishment and repositioning finance for existing Spanish buildings.
View pageFinance for schemes already under construction — completion funding and stretched senior.
View pageRelated services
Purchase finance for primary residences, second homes and holiday properties across Spain.
Learn moreInvestment and owner-occupier funding for offices, hospitality, retail and logistics.
Learn moreImproved terms, capital raising and exit refinance for maturing Spanish facilities.
Learn moreShort-term funding for acquisitions, auctions, chain-breaks and development exits.
Learn moreReady to explore your options?
A discreet, no-obligation conversation with an international specialist with deep expertise in the Spanish lending landscape for US, UAE, UK and European buyers.
Tell us what you are financing, where, and how quickly you need funds. We will point you to the right page and pre-fill your enquiry.
Location shapes valuation timelines and which lenders will look at the asset.
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