Loan for renovation and reconstruction of apartment buildings

• Simple way of obtaining resources for maintenance of or investment into the apartment building
• possibility to refinance as much as 100 % of investment
• set up of an optimal instalment calendar
• no need to put a lien on particular apartments
• no costs when it comes to making an entry in the Notary central register of the rights of lien and pledging your own resources
• with an advantage of providing an overdraft on current account to bridge an interim lack of resources in the administration fund, maintenance and repairs to repay the loan’s instalments

Loan parameters

• loan amount from €7,000 up to 100 % of investment costs
• maturity 4 – 25 years
• choice of an optimal interest rate accrual
  • floating interest rate with fixation for 1, 3, 6, or 12 month EURIBOR or fixed interest rate for 3, 5, or 10 years
• a one-off or gradual drawdown
• only 90 % of the loan amount must be documented and you’ll get the remaining 10 % of the loan without having to document its purpose if agreed upon by the owners
• you can also pay off the loan in advance
• you can get it without having to submit accounting reports on behalf of the administrator or the evaluation by particular owners
• the loan can be used to pay invoices including VAT, advance invoices related to sales contracts, delivery contract, author’s contracts as well as to refund the already paid invoices
• we can take into account future energy savings, when setting the loan repayment level, so that the total real monthly contributions to funds by owners do not rise
• you can obtain preferential funding from European funds through the CEB credit line under advantageous conditions,
• you pay off regularly or individually with regard to the creation of the Housing fund
• you don’t have to pledge your own finances
• a possible lack of money in the fund intended for loan pay-off can be bridged by a current account that can be drawn up to the amount of 3 monthly instalments free of charge and without guarantees

Loan purposes

• elimination of static and systematic damages to the house
• heat cladding, facade and roof repair
• heating modernization
• replacement of windows, front doors
• reconstruction or construction of elevators, balconies and loggias
• project documentation
• purchase of land adjacent to the apartment building

What you need to obtain the loan

• approval of investment and supplier by the majority of owners as stipulated by the law
• owners‘ agreement with the conditions and guarantees of the loan min. 2/3 majority of all owners

Which documents must be submitted

• current excerpt from the Business or Trade Register of the building service engineer
• excerpt from the Registry of owners of apartments and non-residential premises applicable for legal acts
• current Title Deed to the apartment house, sufficient from the Cadastre portal
• apartment building management services agreement, association agreement with by-laws
• report on management of financial resources in the funds of the apartment building including indemnity compensation
• excerpt from all the accounts of the apartment building
• analysis of payment discipline with a list of apartments and enumeration of their current monthly contribution to the administration fund, maintenance and repairs signed by the building service engineer
• agreement with work contractor and the budget of the implementation
• insurance contract of an apartment building

Loans from EU grants for support of energy efficiency in apartment houses:

Loans provided from CEB credit line

Loans provided from CEB credit line in specific funding area – Environmental protection, Energy efficiency in apartment houses, intended to cover investments to reduce energy intensity for apartment houses such as thermal insulation of building, exchange of windows, installation of more efficient heating systems, measuring equipment etc. The interest rate is lower by 0.25% p.a.