Loan for apartment house renovation | Luminor

The apartment house renovation credit is a great solution to make the housing more energy efficient and smart, thus boosting its value!

Loan conditions

Apply

1

Make a decision

General meeting of the apartment owners shall decide on drawing a loan for renovation of the building.

2

Contact us

The customer – society of apartment owners or the maintenance company shall submit to the bank the loan application

3

We will evaluate your application

The bank evaluate the application and makes a loan decision.

4

Sign the agreement

The Customer and the bank enter into the agreement

5

Carry out the renovation works

The bank transfers the money under the agreement and the renovation works schedule

Necessary documents

  • Loan application.
  • Resolution of the general meeting of the apartment owners on authorizing the manager to manage and maintain the house (minutes of the first general meeting). 
  • Agreement between the apartment owners and the maintenance company on the house management.
  • Resolution of the general meeting of the apartment owners on assumption of loan obligations - consent of at least 2/3 of all apartment owners is required.
  • Information on payments certifying that at least 90% of all invoices are paid by the due date and in full.
  • Renovation works schedule, agreement or draft agreement with the builder.

Make your housing more energy efficent and smart!

See also: Leasing, Credit line