Housers is neither a credit institution nor an investment services company. It is not a member of any investment guarantee fund or deposit guarantee fund. Therefore, the invested capital is not covered by these funds.
Housers is neither a credit institution nor an investment services company nor does it provide financial advice, so nothing on this website should be interpreted as such. The information on this page is for general information purposes only and does not constitute specific advice.
The equity financing projects published on the website are not subject to authorization or supervision by the Comisión Nacional del Mercado de Valores (CNMV) or by the Bank of Spain or by any other regulator, national or foreign. The information provided by the developer has not been reviewed by any of these bodies and does not constitute a prospectus approved by them.
The developer of the project is responsible to the investors for the information provided to the crowdfunding platform for publication within the project on the website.
The investment through Housers must be made as part of a diversified portfolio. The investment in Housers is intended for people with sufficient knowledge to understand the risks inherent in each project.
Approximate Scoring
In the projects that are published on the platform, Housers offers all Users an approximate Scoring that allows Users to estimate the potential risk of each project before investing. The Scoring has an approximate purpose and therefore, the User should know that he/she should not base his/her investment on the Scoring that is done on the projects. Housers does not offer any guarantee regarding the veracity of the content of the Scoring, the accuracy, timeliness, or liability of the information published in the Scoring, regardless of who performs the Scoring.
The investment in Housers involves the risk of total or partial loss of the invested capital, the risk of not obtaining the expected monetary return and the risk of illiquidity to recover the investment, not being the invested capital guaranteed neither by the borrower company, nor by Housers, nor by any investment or deposit guarantee fund. Notwithstanding the above, some projects may include a mortgage guarantee, which will be registered in the corresponding Land Registry, and may be executed in case of default by the developer.
Recovery of the investment before the end of the loan contract is not guaranteed. Generally, the financing projects published in Housers are medium or long term, and the investments in them cannot be considered liquid.
The developer has limited own resources so that its responsibility in the project is limited to those resources, being able to accumulate more than one project on the platform entails an additional risk of concentration.
In addition, when the project finance is instrumented through the emission of values, the following risks exist:
Housers is a crowdfunding platform whose activity consists of putting in contact, in a professional manner and through the website www.housers.com, a plurality of individuals or legal entities (investors) that offer funding in exchange for a monetary return with individuals or legal entities that request funding in their name (developers) to allocate it to a crowdfunding project.
The investment in the projects published by Housers will be implemented either through the application for loans, fixed or participative or through the creation and assumption of shares of limited liability companies (Equity).
The investment projects published in Housers may be based on different types of projects, either fixed-rate projects, participatory projects, or equity projects.
Housers Real Estate projects will consist of financing to a developer for the acquisition of real estate assets or their possible exploitation in lease and sale in the market after a certain period (hereinafter, "the Opportunity" or "the Opportunities"). Often, the financing granted will also be used to carry out the integral reform of the real estate assets acquired, thus increasing their value and profitability.
Housers Green projects will consist of financing to a developer for the development and operation of a project related to renewable energies (hereinafter, "the Opportunity" or "the Opportunities").
Housers Corporate projects will consist of financing business projects to companies of all types of sectors and sizes, both in Spain and in international markets, which will facilitate these companies access to credit for the development of business projects of all kinds (hereinafter, "the Opportunity" or "the Opportunities").
The projects selected by Housers pass, firstly, a screening procedure within the different departments of Housers that filter those projects that comply with the legislation and whose potential make them susceptible to be financed by investors. Subsequently, an exhaustive review is carried out in which Housers risk analysis team verifies the situation of the developer, if applicable, the situation of the real estate asset from a legal and technical point of view and finally they analyse the overall financial data of the project.
The developer is the one who contacts Housers directly by different means and sends electronically all the required information so that a detailed analysis of the proposal can be carried out to estimate its viability and proceed with its publication.
Housers rigorously analyses the investment projects that it receives from the developers based on homogeneous and non-discriminatory criteria, to verify the viability of the same and to protect the interests of the investors. To this end, before the publication of the projects, it carries out the following actions:
Housers protects the investors' funds by keeping their capital in a segregated and secure account in an external and independent payment entity, regulated and authorized by the Bank of Spain, which is responsible for managing all fund movements.
The scoring system or credit rating of financing projects is carried out by GLOVAL, an external and independent provider, which evaluates the solvency of developers and real estate projects financed through the platform.
The scoring system used is based on assessments, where statistical techniques are combined with discretionary decision-making elements. It is a real estate investment analysis report aimed at obtaining an evaluation of the Participatory Financing Offer under analysis. The scoring of opportunities is conducted through a three-level analysis:
The report is based on information provided by the project developer and complemented with information obtained from public sources, such as statistical data, market information from major real estate portals, as well as information from GLOVALs own database.
To ensure the quality of the models results, it will be subject to annual evaluation and control.
The project classification will detail levels and quality as follows:
To avoid conflicts of interest, Housers has approved an Internal Code of Conduct whose content you can consult here: Internal Rules of Conduct.
Projects on this platform may be invested in by persons referred to in points (a), (b) and (c) of the European Regulation: (a) their partners holding at least 20 % of the share capital or voting rights; (b) their managers or employees; (c) any natural or legal person linked to those partners, managers or employees by control as defined in Article 4(1)(35)(b) of Directive 2014/65/EU.
However, information will be provided on the specific projects in which they invest. In addition, the Platform has a Conflict of Interest Management Policy so that these persons make their investments under the same conditions as other investors. This ensures that they do not receive any preferential treatment or have privileged access to information.
In accordance with our conflict of interest management procedure, in particular, a conflict of interest shall be deemed to exist when:
Therefore, with regard to the relationship and possible conflicts of interest of the company Atrium Lex S.L. and Mr. Marchamalo and Mr. Puebla, with executives or employees of the platform, the established procedure has been followed and none of the above conditions have been met, so that the detailed relationship does not violate our internal control and conflict of interest management procedures because there have been no financial benefits or losses have been avoided at the expense of investors, nor have any of the situations mentioned above arisen.
Given that the web platform enabled by Housers is based on software systems, hardware, and communication through the Internet, Housers does not guarantee continuous or uninterrupted access and use of the Housers website. Consequently, the system may eventually be unavailable due to acts of nature or force majeure, as well as technical difficulties or Internet failures, or any other circumstance beyond Housers control. In such cases:
The web platform is hosted by a specialized provider of Cloud services which allows high availability and security of the service.
Given the diversity of parties involved in the provision of the service offered by its web platform, Housers cannot guarantee the continuous availability of the service. Notwithstanding the above, and to try to avoid as much as possible the unavailability of the service, the web platform has a triple backup system that would guarantee the continuity of the service in case the storage systems and databases managed by the web platform are affected:
1. Measures to minimise the risk of fraud
Considering the type of business and investments that are made with its services, the possibility of fraud can occur both internally and externally to Housers for which it has implemented the following procedures and measures:
2. Measures to minimise operational risk
As a measure against the hypothetical cessation of the provision of services, Housers has taken out a policy with the company AIG Europe S.A., Entity registered in the Mercantile Registry of Madrid, Volume 37770, Folio 48, Page M- 672859, Inscription 1 Key E0226 of the Directorate General of Insurance and Pension Funds, which provides for the provision of services in case of cessation of activity as consideration for the payment of the additional Premium.
The cover contracted covers an amount of up to €500,000 in services in the event of cessation of activity. In the event of Cessation of Activity of the Company, the Insurer shall pay on behalf of the Company the costs necessary for the continued provision of the Services to which the Company committed for the Equity Financing Projects that had obtained financing before the Cessation of Activity of the Company, under the terms provided in Law 5/2015, of 27 April, on the promotion of business financing.
The Services referred to in the preceding paragraph shall be limited to the following:
In short, through the policy Housers is given continuity to continue managing payments, to later continue with the option of passing the loans to a third platform authorised by CNMV, so that with the insurance coverage contracted the transition to another platform will be managed. If no other interesting platform is found, the option of putting developers and investors in direct contact with each other would be maintained.
Additionally, the payment services entity Lemon Way, entity that provides payment services to Housers, in the event of termination of activity of the platform, must continue to provide payment services to the Account Holders under the conditions agreed in the framework agreement until the Contract is effectively terminated, so that the platform has the option to send the details of the Account Holder to another payment services provider two months before the effective termination date.
This ensures continuity of payments until the end of the project.
Regarding the projects published on the platform and in the event of termination of activity, the projects will be treated neutrally as one of the projects financed and not closed, so that the applies to them both for coverage by the contracted policy and regarding the Payment Service Provider.
Also, in case of definitive cessation of the activity of Housers for any reason, the contractual relationship between Housers and the Investor will be terminated following the provisions of the General Terms and Conditions of the platform. In such an event, the Investor acknowledges that such termination will not affect the provisions of the Contract that, if applicable, has been signed with the Promoter, and/or its partners, which will remain in force during the term established in the contract and will be governed by the provisions of the same. In this case, the Investors must coordinate with the Promoter the provision by the latter of the appropriate mechanisms for the communication between the Investors and the Promoter in the development of their relationship under the Contract, without the Investors having the right to claim to Housers for any concept.
If Housers decides, for any reason, to cease its activity, it will notify in writing to investors and promoters three (3) months in advance, proposing if possible, a substitute participatory financing platform that would succeed Housers in the rights and obligations assumed against them, and indicating the procedure to proceed to an orderly transition from one platform to another. If Housers by its own decision or force majeure does not activate this mechanism, investors and promoters would have to relate directly, that is, without the intermediation of a platform, without prejudice to their right to claim the damages that, where appropriate, would correspond to them.
If a User decides to terminate the contractual relationship with Housers, and the User has signed one or more Contracts with one or more Developers through the Web about different Opportunities and these are still in force, Housers will block the Users account until the completion of all those projects that are in force.
The following are causes for termination of the contractual relationship between Housers and the User:
Resolved the contractual relationship between Housers and the User will produce the following effects:
The Investor may request Housers, at any time, to voluntarily unsubscribe from the web platform. In this case, he/she must notify Housers through the Web and Housers will proceed to unsubscribe within a maximum period of ninety (90) days from the moment in which all the projects in which he/she has invested are completed. If you have invested in any project, and this has not been completed, Housers will block your account until the completion of all those projects that are in force.
The consequences of termination provided in the previous section will be applicable in the case of voluntary cancellation by the User.
If the Investor has entered one or more Contracts with a Developer through the Website about different Opportunities, these may not be terminated except as provided for in these Contracts.
Housers is an european crowdfunding service provider authorized and regulated by the Comisión Nacional del Mercado de Valores (CNMV, Spain) by licence granted on 02/06/2017.
Housers is audited by UHY-FAY AND CO AUDITORES CONSULTORES, S.L. registered in the Official Register of Account Auditors with number S1291, NIF B82445826 and address C/Serrano 1, 4º, 28001 Madrid (Spain).
