Dexter Finance

Ticket · 1.000.000€ — 150.000.000€

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Product · Mortgage-backed

Land acquisition loans

From €1,000,000 — Up to €150,000,000

Mortgage-backed financing for the acquisition of fully zoned, ready-to-build land — residential, commercial, hospitality, logistics and industrial.

  • No credit-registry footprint (CIRBE)
  • No tying obligations
  • First-rank mortgages
  • Financing up to 24 months
  • We finance every sector
  • Subordinated debt considered
  • Grace period during the construction phase
  • Interest paid only on drawn amounts
  • Drawdowns against works certifications
  • First drawdown released at signing
  • Up to 70% of the purchase price
  • We structure the project's subsequent financing

Talk to the team.

A confidential request. We respond with judgement.

§ 01

How it works

A land acquisition loan is short and medium-term mortgage-backed financing to acquire a plot — typically fully zoned land, at the stage where building is possible — secured by a mortgage over the land itself. It is the natural first link of a real-estate development: once the purchase is secured, we structure the developer loan that finances construction.

Paso a paso · 04 tiempos

  1. First contact and land fact sheet: location, planning status, purchase price and intended development plan.

  2. Feasibility response within 24–48 hours. If the deal fits, term sheet with the proposed LTV and the horizon to works start.

  3. Due diligence in parallel: appraisal, registry and planning review, validation of licences in progress.

  4. Notarial closing and inscription of the mortgage over the land. Funds released to the seller on the spot.

§ 02

When it fits

Land acquisition financing is the right product when there is an identified plot, an agreed price and a clear development plan — your own or a third party's — and the purchase needs to be secured before the construction financing is in place.

  • Fully zoned land for residential development

    Acquisition of a buildable urban plot destined for a new residential scheme.

  • Commercial, hotel or logistics land

    Acquisition of land in any sector — commercial, hospitality, logistics, industrial. All uses admitted.

  • Purchase ahead of the licence

    Secure the land purchase while the planning process is completed and the construction financing is closed.

  • Portfolio repositioning

    Investor acquiring land for the portfolio with a long-term patrimonial view or for resale after revaluation.

  • Purchase from a fund, a bank or an insolvency process

    Acquisition of land on the secondary market with a tight closing deadline.

  • Chaining into the developer loan

    Combined operation — land purchase plus construction financing — structured as two consecutive tranches.

§ 03

Bank land mortgage vs. private-capital land loan

Land is the asset traditional banking finds hardest to finance — planning risk, no cash flows, buyer profile. Private financing positions itself where the bank will not go.

  1. Aspecto

    Speed

    Bank land financing

    Slow process (2–3 months min.), with planning analysis and committee.

    Land acquisition loan · Dexter

    Initial response within 24–48 hours; full closing in weeks.

  2. Aspecto

    Appetite

    Bank land financing

    Low. Retail banking rarely finances land purchases for investors or developers.

    Land acquisition loan · Dexter

    A dedicated product, with experience and in-house judgement across every land typology.

  3. Aspecto

    Analysis focus

    Bank land financing

    Buyer profile, ranking, indebtedness, credit blacklists.

    Land acquisition loan · Dexter

    The land's planning status, location, development plan and exit plan.

  4. Aspecto

    LTV

    Bank land financing

    Limited, or restricted to very specific profiles; usually conservative.

    Land acquisition loan · Dexter

    Up to 70% of the purchase price, case by case.

  5. Aspecto

    Structure

    Bank land financing

    Standard catalogue product, short terms with no real flexibility.

    Land acquisition loan · Dexter

    Bespoke — terms of up to 24 months, first drawdown at signing, subsequent chaining into the developer loan.

  6. Aspecto

    Fit with the later works

    Bank land financing

    Moving from land loan to developer loan requires a new operation with the bank.

    Land acquisition loan · Dexter

    We structure the project's subsequent financing within the same relationship — one continuous operation.

  7. Aspecto

    Credit-registry footprint

    Bank land financing

    The operation is registered in CIRBE (the Bank of Spain's credit-exposure register), reducing subsequent borrowing capacity.

    Land acquisition loan · Dexter

    No CIRBE footprint: the operation does not appear in the register.

§ 04

Frequently asked questions

  • What type of land do you finance?

    Mainly fully zoned land — land that has reached the legal stage of urban development at which building is permitted. We also assess consolidated urban land, developable land with an approved partial plan and, case by case, land with pending planning charges that are reasonably resolvable.

  • Do you finance land without an approved planning licence?

    It depends on the stage. Fully zoned land with a licence at an advanced stage of processing: yes, we assess it. Land at an earlier classification: case by case, depending on the planning framework in force and the realistic horizon to buildability.

  • Up to what LTV do you work on land?

    Up to 70% of the purchase price as a reference. The specific figure is set after the first review, depending on the planning status, the location and the development plan.

  • Can you structure the project's subsequent financing?

    Yes — it is one of the structural advantages: the natural route is to chain the land purchase into the developer loan on the same operation. Operational continuity between the two phases accelerates the closing and reduces documentary friction.

  • What terms do you work with?

    Up to 24 months, aligned with the realistic calendar to works start. The term is set against the concrete horizon for obtaining licences and closing the subsequent development financing.

  • Do you accept land with pending planning charges?

    Yes, case by case. It depends on the nature of the charge (outstanding urbanisation quotas, cession obligations, special contributions) and on whether the pending balance is reasonable relative to the land's value. The operation is assessed as a whole — it is not discarded for the presence of a charge.

Leer en profundidad
§ 01

Land categories and how they are assessed, in depth

Planning categories determine the financial treatment of land. Consolidated urban land — already fully serviced, ready to build once the works licence is granted; the lowest risk profile, the highest LTV. Developable land, or fully zoned land with an approved partial plan — buildable in the short term, requiring validation of the horizon to licence. Land with pending charges — urbanisation charges, cessions, special contributions; assessed case by case according to amount and timeline.

Location, the market situation of the product to be developed and the buyer's profile (developer, investor, family office) also enter the analysis, but the decisive factor is always the planning status and the realism of the development plan.

§ 02

From land purchase to developer loan

Land is bought to build — that is the product's premise. Once the acquisition is secured, the natural operation is to chain into the developer loan that finances construction. Working both phases with the same counterparty reduces documentary friction, accelerates the closing and allows the structure of the land loan to be aligned with the intended structure of the development loan — calendar, collateral, grace period.

In practice, many operations close as a single file with two tranches: first the land acquisition loan, then — without resetting the analysis to zero — the developer loan on the same operation. That is what makes the product fit especially well with developers who need to close land acquisitions with the confidence that the construction financing already has a counterparty.

§ 03

Dexter's approach to land acquisition

Land purchase is the hardest operation to finance in traditional banking — no cash flows from the asset, planning risk, exit timelines that move at the pace of the planning file. Retail banking rarely enters; the lines that do are scarce and very conservative.

Our approach is the inverse: a dedicated product, in-house judgement on planning status and development plan, a first-rank mortgage over the land itself and the flexibility to chain the project's subsequent financing. Each purchase is assessed on the land and the plan, not on the applicant's borrowing history.

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