Apartment building renovation loan
Loans for apartment associations renovating their buildings, with a green option requiring at least 30% primary energy savings.
Questa opportunità è attualmente disponibile in inglese.
Finance construction and renovation work on your apartment building. To qualify under SEB’s green offer, the renovation must reduce the building’s primary energy use by at least 30%. For energy-saving work, submit the existing energy label and a calculated label for the renovated building to document its energy performance.
Loans start at €10,000. Your association may be able to borrow without contributing its own funds; the loan term depends on the project. The loan is repaid from apartment owners’ payments for building management. SEB’s individual loan decision sets out the interest and other loan terms. The agreement fee is 1% of the loan amount, with a minimum of €200.
Eligibility
- The borrower is the apartment association. Its right to collect management fees from members serves as security for the loan. An EIS guarantee may also be used if needed; SEB arranges the guarantee application.
- Association members must support the renovation and borrowing decision by a majority. Hold a general meeting and submit the loan decision minutes using SEB’s template, together with the attendance and representation documents specified by the bank.
- SEB assesses the association’s risk and ability to repay. The application includes information on owners whose payments are more than 30 days overdue and evidence that the association has no debts to major service providers.
- You must have a current account with SEB to conclude the agreement and insure the apartment building.
- SEB pays out the loan after your association has paid any agreed contribution from its own funds. The bank requires construction invoices and records showing that completed work has been accepted. SEB generally does not finance advance-payment invoices.
How to apply
- Stato
- Aperto continuamente
- Restrizioni del bando
- Subject to SEB’s credit assessment.
Discuss the project and loan terms with SEB, obtain at least two comparable renovation quotes, and hold the association’s general meeting before submitting the loan application. Apply through SEB’s website or Internet Bank with the renovation project documentation and meeting decision. Provide a building notice or permit where applicable, and the existing and calculated new energy labels for energy-saving work.
SEB assesses the application and makes an individual offer. After approval, arrange the loan agreement, contracts with the builder and the person supervising the work on the association’s behalf, and building insurance; payments for the works follow the invoice and acceptance requirements above.