Caser Seguros takes advantage of the housing price boom and launches a new reverse mortgage

Caser Seguros consolidates its bet on the reverse mortgage and expands its catalog. This Wednesday, the insurer begins the marketing of a new product under the modality of concentrated installments, which consists of receiving a higher income for a shorter period of time. In this case, the company has established a time horizon that covers two to fifteen years – it will vary depending on the client – in which the entire amount will be paid.

As an example, a 65-year-old person who contracts for 15 years will receive an income for the value at which his or her habitual residence is appraised at that time. Until now it only offered two options: monthly payment methodwith which a periodic fee is paid for life, which reduces the monthly amount to be received; wave unique layoutin which a single disbursement is made.

“It is a product that the market is asking for. In some cases the monthly payment was insufficient to meet real economic needs of clients,” he explains to ‘La Información Económica’ Nuria López Catalán, Director of Reverse Mortgage and Transversal Services at Caser Seguros. The concentrated reverse mortgage is designed for those users who must face an extraordinary payment or who need to have a greater volume of income. However, Caser will maintain the monthly payment category and the total provision.

The launch takes place in a peak moment for housing prices. According to data from the National Institute of Statistics (INE), the housing price index (IPV) corresponding to the second quarter of 2025 – latest data available – shows an increase of 12.7% in a year-on-year comparison, leading the second largest increase in the entire series. A greater increase was only recorded in the first quarter of 2007, when the rebound exceeded 13.1%. With the index at historical highs, It can serve as an incentive to encourage demand, given that the value of the property is determined by an appraisal expert.

The insurer has offered reverse mortgages in Spain since 2019, six years in which it has signed a total of 424 operations, with a live portfolio of 304. Taking into account its low penetration at the national level, expectations “are good.” “A relevant part of our client portfolio is over 65 years old and This segment is going to grow exponentially in the following years,” highlights López Catalán. This population concentrates the bulk of its wealth in assets, another factor in favor of the financial sector in order to promote the promotion of reverse mortgages.

This figure, more standardized in northern Europe, was promoted at the national level by the banks in the last ‘tails’ of the real estate bubble, even before the entry into force of Law 41/2007, that came to regulate it. However, the high number of legal fronts with which the entities had to litigate condemned them to a practically testimonial offer. In recent years the sector has begun to gradually open up with insurance companies as the main promoters.

The fine print is that it is not suitable for everyone. In addition to the fact that the individual must be over 65 years old, not all homes can qualify for a reverse mortgage. Fixed Caser as limit urban centers with a minimum of 50,000 inhabitants. “We have no interest in keeping the property. We have already calculated the product so that the maximum accumulated debt does not exceed a certain percentage in such a way that the heirs always have a remainder and they find it attractive to accept the inheritancebecause they are left with an interesting differential,” explains López Catalán.

In fact, the reverse mortgage is aimed at people with children, of whom at least one of them must be present on the day of signing. Among the tax advantages, the exemption from Documented Legal Acts Tax stands out and it is also not necessary to reflect its collection in the personal income tax return as it is not considered income.