For apartment building renovation

• Financing of up to 100% of the project costs
• Maximum loan repayment period - up to 20 years
• Over the past 12 months, at least 95% of the public utility bills have been paid on time
• The association or the property management company can apply for the loan

• Mortgaging the apartments or personal guarantees of apartment owners not required. The loan is secured by timely monthly payments by apartment owners for property management
• Cash collateral to the amount of 2–3 monthly loan payments

Before preparing the documents, we suggest talking to a specialist of the bank.

• Articles of association
• Building management agreement
• Information about the project - a description of work do be carried out and the construction cost estimate
• Completed loan application and information about the public utility payment discipline

For projects with Altum tax rebate:

• Altum's preliminary opinion on the reservation of the capital discount
• Altum’s statement on the evaluation of the selection of suppliers
• Energy performance certificate of the building
• Other documents upon request by the bank's specialist

Financing of up to 100% of the costs of technical documentation development, required before investing in home renovation and energy efficiency improvements:

• Energy audit
• Technical assessment
• Technical documentation
• Project management

• A loan up to 50,000 EUR
• Repayment period up to 10 years
• For houses with 6 or more apartments*
• 50% + 1 vote**
• Over the past 12 months, at least 95% of the utility bills have been paid on time
• In addition, the existing savings for repairs is assessed

* For houses with 6–9 apartments, the maximum loan amount is 20,000 EUR and a 100% vote by apartment owners is required.

**For shared ownership houses where the house is not divided into apartment properties – 100% vote

• Not required - mortgaging the apartments or personal guarantees by apartment owners
• Requires a commercial pledge over claims against apartment owners arising from transactions between the authorised representative and the apartment owners

Before preparing the documents, we suggest talking to a specialist of the bank.

• Apartment owners' decision 50% + 1 vote in favour of taking the loan. For shared ownership houses where the house is not divided into apartment properties – 100% vote;
• Cost estimates, agreements with contractors, invoices, etc. for work to be carried out, and other documents on request
• Information on utility bill payment discipline
• Account statement for the last 6 months if the cash flow of the house goes through another bank.