Sofkredit review

Updated September 28, 2026 · BorrowCue Editorial Team · Facts checked September 26, 2026

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Our verdict

Sofkredit suits Spanish borrowers who want property backed finance and can wait for a notary appointment. The headline cost is an arrangement fee of 6% to 9% of the loan, while Sofkredit's own service adds nothing beyond it.

Key facts

Best for
Spanish borrowers with property to place against a mortgage guaranteed or home equity loan.
APR
10.74% to 18.06% (Source, checked September 26, 2026)
Loan amount
€12,000 to €300,000 (Source, checked September 26, 2026)
Term
6 to 240 months (Source, checked September 26, 2026)
Arrangement fee
6% to 9% of the loan; on a 15,000 EUR mortgage-guaranteed loan the commission is 900 EUR minimum and 1,350 EUR maximum, charged by the collaborating lender; Sofkredit's own service costs the user nothing (Source, checked September 26, 2026)
Credit check
Soft prequal (Source, checked September 26, 2026)
Funding time
15-20 days after approval; same day as the notary signing, about one week if documentation is sent quickly (Source, checked September 26, 2026)
Representative example
a 15,000 EUR loan at 9% interest over 5 years returns a total of 21,750 EUR (Source, checked September 26, 2026)
Lender type
Broker (Source, checked September 26, 2026)
Eligibility
Natural or legal persons of legal age (+18) with Spanish nationality or residence, holder of a bank account; for mortgage-guaranteed loans a property must be owned, free of charges or with at least 70% of the mortgage repaid (Source, checked September 26, 2026)
Origination fee (%)
6% to 9% (Source, checked September 26, 2026)
Loan types
Secured, Debt-consolidation, Business (Source, checked September 26, 2026)
Credit needed
Poor (Source, checked September 26, 2026)
Use cases
Home-improvement (Source, checked September 26, 2026)
Legal entity
Kova Finance, S.L. (Source, checked September 26, 2026)
Headquarters
Spain (Source, checked September 26, 2026)
Support channels
Email, Phone, Help-centre (Source, checked September 26, 2026)
Features
Same-day funding
Official website
sofkredit.com

Mortgages

Initial rate
8% to 14% (Source, checked September 26, 2026)
APRC
10.74% to 18.06% (Source, checked September 26, 2026)
Fixed period
0.5 to 20 years (Source, checked September 26, 2026)
Maximum loan to value
30% (Source, checked September 26, 2026)
Product fee
€900 to €1,350 (Source, checked September 26, 2026)
Purpose
Home-equity, Remortgage (Source, checked September 26, 2026)
Lender type
Broker (Source, checked September 26, 2026)
Legal entity
Kova Finance, S.L. (Source, checked September 26, 2026)
Headquarters
Spain (Source, checked September 26, 2026)
Support channels
Email, Phone, Help-centre (Source, checked September 26, 2026)

Pros and cons

Pros

  • Sofkredit's own service costs nothing, so the only charge to weigh is the lender's arrangement fee of 6% to 9%.
  • The loan range €12,000 to €300,000 and the term range 6 to 240 suit both renovation projects and debt consolidation.
  • Eligibility leans towards weaker files, with the credit needed listed as poor, and the credit check is soft prequal.
  • The range 0.5 to 20 lets a borrower fix the rate for a short stretch or a long one.
  • Same day funding is listed as same day funding once the notary signs.

Cons

  • The arrangement fee of 6% to 9% is a large share of the loan, and the product fee on a small mortgage guaranteed loan runs €900 to €1,350.
  • Maximum loan to value is 30%, well below the 90% across listed lenders, so equity of your own is required.
  • Sofkredit is a broker, so the contract sits with the collaborating lender rather than the site you apply through.
  • Support runs on email, phone and help centre, with no chat or community channel listed.
Sofkredit

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Who it suits

  • Spanish residents and nationals who own a property that is free of charges or has most of its mortgage repaid
  • Borrowers consolidating several debts into one payment, since debt consolidation is among the secured, debt consolidation and business
  • Homeowners funding renovation work, as home improvement is the main listed use case

Who should look elsewhere

  • Anyone who needs money the same week without a notary appointment, against the stated funding time
  • Borrowers who want to borrow more than a low share of their property's value, given the 30% cap
  • Small lenders wanting a quick online application rather than the documentation and notary steps this route involves

Regulation

Sofkredit is a broker, so it introduces borrowers to private capital providers rather than lending from its own balance sheet. The Spanish operation holds a registration with Banco de Espana, listed as E020. The Italian operation is listed with OAM, the body for agents and mediators, as E020. The legal contracting entity for these loans is Kova Finance, S.L., which means the agreement, its fees and its terms sit with that company and the collaborating lender. Borrowers who are comfortable reviewing two sets of terms, the intermediary's and the lender's, will find this arrangement workable. Borrowers who expect a single lender to take responsibility for every term will want to read both documents closely, because the rate and the fee are set by the lender that funds the loan.

Safety and regulation

The representative example shows a loan of a stated size at a stated interest rate over a stated term returning a larger total, which gives a fair way to test any quote against Sofkredit. Money does not move on the strength of a click alone: funding follows approval and a notary signing, and the stated funding time runs well beyond a week on the private finance route, with the same day release tied to the notary appointment itself. Because Sofkredit is a broker, the money is placed by a collaborating lender, and its commission is the cost that matters. Registration with Banco de Espana in Spain is listed as E020, and the Italian side appears under OAM as E020. Checking the exact fee on the offer letter, alongside the representative example, is the practical safeguard here.

Who runs it

The contracting entity is Kova Finance, S.L., a Spanish limited company, and the head office is in Spain. Sofkredit works as a broker, matching applicants to private capital lenders, which shapes how quickly an application moves and who sets the final terms. Day to day contact runs on email, phone and help centre, covering email, phone and a help centre, with the Spanish registration listed as E020 and the Italian registration under OAM as E020. Both registration entries carry the same identifier, so a borrower can search either register for the same entry. Borrowers who want a named company on the paperwork, a Spanish address and phone support during the notary process fit this profile. Borrowers who expect an instant digital account and chat support will not find that here, and the timeline is set by the lender's own process.

How Sofkredit compares

Where Sofkredit is available

Available
France, Italy, Spain
Licence in Spain
Banco de Espana (E020), checked September 26, 2026
Licence in Italy
OAM - Organismo Agenti e Mediatori (Elenco degli operatori comunitari, art. 128-novies TUB) (E020), checked September 26, 2026

Countries from the brand (Source, checked September 26, 2026)

Frequently asked questions

What does Sofkredit charge to arrange a loan?+

The arrangement fee runs 6% to 9% of the loan and is charged by the collaborating lender. On a small mortgage guaranteed loan the commission falls within €900 to €1,350. Sofkredit's own service costs the borrower nothing beyond that lender charge.

How much can I borrow and for how long?+

Loan amounts run €12,000 to €300,000 and terms run 6 to 240, so the range is wide enough for a renovation or a debt consolidation. Terms and amounts are set by the collaborating lender rather than by the site you apply through.

What rate will I pay?+

The advertised annual rate is 10.74% to 18.06%, and the initial rate for a fixed period is 8% to 14%. The period you can hold that rate for runs 0.5 to 20. The representative example on the site shows how a typical loan adds up in total.

How long does it take to get the money?+

Funding is listed as same day funding, but that applies once the notary signs. The stated funding time is longer on the private finance route, running well over a week after approval, and the same day release comes with the notary appointment.

Is my money protected by a deposit guarantee?+

Sofkredit is a broker, so funds come from a collaborating private capital lender rather than a deposit-taking bank. The Spanish side is registered with Banco de Espana under E020, and the Italian side with OAM under E020. No separate guarantee on deposits is stated.

Do I need a property to get a loan here?+

For a mortgage guaranteed loan, you must own a property that is free of charges or has most of its mortgage repaid, and the maximum loan to value is 30%. Secured lending, debt consolidation and business loans are all among the secured, debt consolidation and business available.

What credit history do I need?+

The credit needed is listed as poor, and the credit check is soft prequal, so a soft prequalification is the stated starting point. Soft prequalification sits in the minority on the site at 20.4%, against 72.7% for a full check.

What can I use the money for?+

The listed purposes are home equity and remortgage, covering home equity and remortgage, and home improvement is the main use case. Debt consolidation and business lending also appear among the secured, debt consolidation and business, so an application can be arranged around an existing debt rather than a purchase.

Who is behind the contract?+

The contracting entity is Kova Finance, S.L., based in Spain, and Sofkredit itself works as a broker. Support is handled through email, phone and help centre, meaning email, phone and a help centre rather than live chat.

Sources

Compiled from 5 source pages, checked September 26, 2026. We did not open an account.

Sofkredit

Sofkredit

Spanish borrowers with property to place against a mortgage guaranteed or home equity loan.

8.6/10Visit

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