Every investment is secured by Spanish residential property — giving you real, tangible asset protection.
Assets are acquired at deep discounts, providing strong downside protection against market changes.
No large capital, no renovations, and no tenants - just property returns without the operational hassle.
Invest in asset-backed opportunities with the potential for higher returns than traditional bank deposits.
Access independent property appraisals, key metrics, and legal documents instantly, all in one place.
Spain’s housing market remains a proven, stable opportunity for both private and institutional investors.
Discounted Debt Investing is an alternative investment strategy focused on purchasing Non-Performing Loans (NPLs) - mortgage loans where borrowers have defaulted on payments.
Banks and institutional lenders sell these loans at a significant discount, alongside the underlying collateral, which is usually secondary property.
Specialised debt management firms acquire and manage these assets, focusing on debt restructuring, recovery, legal processes and real estate realisation through experienced servicing partners.
Returns are generated through the successful resolution of each debt strategy. This typically happens through debtor settlement, public auction of the underlying property, or resale to another investor on the secondary market.
Each Discounted Debt investment on Indemo follows a structured lifecycle — from acquisition to resolution and potential return generation.
We source discounted mortgages from banks and investment funds, then assess each opportunity through rigorous due diligence, scoring, internal analysis, and independent external valuations. A dedicated decision-making committee also reviews every selected opportunity. Only a small share of available debt opportunities — less than 10% — make it onto the Indemo platform.
Once selected, the assets are structured into asset-backed securities, known as Notes, through a securitisation process with Nasdaq CSD. The Notes are then listed on Indemo in compliance with MiFID II and Prospectus Regulation requirements. The Notes are legally separated from Indemo’s own funds and liabilities, meaning they are not connected to the platform’s operational liquidity. As a licensed investment firm, Indemo is also covered by the national investor compensation scheme in accordance with EU Directive 97/9/EC.
Each investment opportunity includes detailed information, such as independent appraisals, property location, and key metrics including Price-to-Value and Price-to-Debt ratios, which help reflect the investment discount. Investors can build a diversified portfolio by selecting assets across different debt recovery stages, discount levels, locations, and property types. For added convenience and a more passive approach, Autoinvest can be used to allocate capital automatically based on each investor’s individual preferences and settings.
While investors hold the investment, a professional debt management and servicing partner in Spain manages the full foreclosure and recovery process, including both judicial and extrajudicial procedures. Investors receive regular status updates through the Indemo platform throughout the process. Once the underlying asset is resolved or sold, proceeds are distributed to investors and returns are credited directly to their accounts, completing the investment cycle.
Discounted debts can be resolved at different stages of the recovery process, offering flexibility and multiple strategies for generating returns. From the moment a debt is acquired, the servicing partner actively manages it through one of the following recovery scenarios, depending on the situation and expected outcome.
This is the standard recovery path, where the asset progresses through formal judicial foreclosure procedures. The process may conclude with a public auction or property takeover, followed by a sale of the asset.
In some cases, debt opportunities may be resolved more quickly through negotiation. The debtor may agree to sell or transfer the property to the creditor, or restructure the debt, helping to avoid or pause court proceedings. When the outstanding debt is higher than the property’s value, debtors may be more motivated to settle with the creditor.
During the recovery process, debt opportunities may be resold to other professional investors at a higher price. As a case advances through legal stages, it may become more attractive to institutional buyers due to a stronger creditor position, a shorter expected path to resolution, and potential appreciation in the underlying property’s value.
Understanding timing is key to evaluating how discounted mortgage debts develop: track how each asset evolves through its legal stages over time. A clear visual overview keeps you informed with real-time updates as your investment progresses through its recovery lifecycle.
Discounted debt investing often follows a diversification approach. Early-stage assets may offer higher discounts, greater return potential, and the possibility of faster out-of-court resolution. Later-stage assets typically offer lower discounts and return potential, but may provide greater visibility on timing and a faster expected exit. Investment decisions are guided by key factors such as legal stage, discount level, outstanding debt amount, collateral value, and metrics including PTV an PTD ratios.
Updates on the legal progress of assets are provided monthly, based on reports from the servicing partner. The visual flow overview helps investors both evaluate new opportunities and track existing investments within their portfolio.
Updates on the legal progress of assets are provided monthly, based on reports from the servicing partner. The visual flow overview helps investors both evaluate new opportunities and track existing investments within their portfolio.
Although the underlying real estate may retain and grow in value, managing distressed debt is not a core activity for banks. Selling non-performing loans at a discount allows banks to reduce risk, improve efficiency, and focus on their primary business.
Managing distressed debt is complex and resource-intensive. Banks prefer to focus on their core activities, such as lending and financial services, while specialized firms handle debt recovery more efficiently.
Non-performing loans increase risk and require higher capital reserves. By selling them, banks improve their balance sheet, strengthen capital ratios, and enhance overall asset quality.
Selling non-performing loans provides immediate liquidity, which can be redeployed into new lending or other income-generating activities.
High levels of non-performing loans with banks can negatively impact investor perception. Reducing distressed debt exposure helps banks present a stronger and more stable financial position.
Spain offers a unique combination of scale, legal structure, and market dynamics that make it particularly attractive for discounted debt investments. Despite major improvements in the banking sector and positive macroeconomics, a significant volume of non-performing mortgages remains available, creating a deep and diverse investment landscape.
A substantial volume of non-performing loans remains in the market, allowing for careful selection and access to a wide range of investment opportunities.
Rising property values and strong demand - especially in major cities - support the value of underlying collateral and enhance recovery potential.
Spain has a well-developed and transparent legal system for foreclosure and debt recovery. While processes can be seen as complex, they are structured, regulated, and predictable.
Strong demand from institutional investors, including private equity and hedge funds, creates a liquid secondary market in Spain and supports efficient exits.
Join our community of 20,000+ investors and earn income through discounted debt investing. Follow these four simple steps to get started:
If you’re 18 or older and hold EU citizenship or a valid EU residence permit, you can open an account and start investing. Businesses can also register, subject to additional checks. For security and KYC purposes, we’ll ask you to verify your identity using a valid passport or ID card.
Please answer a short questionnaire. This helps us ensure that we offer you investment products that are appropriate for your experience level and personal circumstances.
To begin investing on Indemo, deposit funds into your platform account. Deposits must be made in euros from your personal EU/EEA bank account via bank transfer.
Once your deposit is complete, you’ll gain access to a selection of investment opportunities from Spain. You can invest manually or use Autoinvest, which automatically selects and manages investments for you. Simply deposit, activate Autoinvest, and let your money work for you.
