For apartment building renovation

Name, surname
Organization's name
Address
Number of apartments
Phone number
E-mail address

Living in a house that’s in order is more pleasant

For a house that’s more energy-efficient, safer and cheaper to maintain. Find out your possibilities to get a loan of up to 100% of the renovation cost estimate plus you won’t need to pledge the property.

For home heat-insulation
For roof or facade repairs
For putting heating and ventilation system in order
For repairing home communications and doing other repair work

With Altum support program, a possibility to get a tax rebate of up to 49% of the loan amount. Check here.

Three steps to start materializing the idea

Apartment owners agree on the work to be carried out and to apply for a loan
Determine the cost of work and consult the bank regarding the terms of loan
Submit the loan application

The bank’s specialists who deal with lending for apartment building renovation on daily basis will give valuable advice about attracting funding and the paperwork.

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

Development finance institution ALTUM is implementing a programme to support the improvement of energy efficiency in apartment buildings and the transition to renewable energy technologies.

The programme covers up to 49% (capital discount) of the total eligible costs of an energy efficiency project, excluding value added tax.
Financing for the project can be obtained by applying for a bank loan with an Altum guarantee.
The capital discount will be paid out only after the completion of the project in the apartment building.

More information about the Altum programme: Energy Efficiency of Apartment Buildings 2022 - 2026 - Altum

Second breath for apartment buildings

Undoubtedly, it’s complicated for many apartment owners to agree on the direction of the general renovation of the house but it needs to be done.

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For Latvia’s most extensive apartment building renovation: Salapils experience story

The building had sustained serious damage due to ravages of time: crumbling bricks and plastering, cracks on the façade, damaged glass panes in the stairway, worn out windows.

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