New!
Apartment owners’ associations can now open a bank account and apply for financing for building renovation projects.
An apartment owners’ association brings together all apartment owners in a specific multi-apartment building to jointly make decisions regarding the management and maintenance of the building’s common property. It can enter into agreements, undertake obligations and receive financing required for the maintenance, renovation and development of the building.
To support the renovation and efficient management of multi-apartment residential buildings, SEB offers apartment owners’ associations the opportunity to:
- Open a current account for managing the building’s finances and building up savings.
- Obtain financing for repair, renovation and energy-efficiency improvement projects.
- Apply for a loan without establishing a union.
Get more with Altum
The project is supported by the European Regional Development Fund. Co-financing with a capital discount from ALTUM.
Simple to apply
Together with Altum, the project will be assesed.
Send us
the filled application
We will
contact you
with proposal or
additional questions
After
a positive decision
from Altum
and bank,
sign the agreements
Title
Please prepare the following documents
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A completed loan application
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The decision of residents to participate in the energy efficiency project, borrowing of the loan and the possibility of increasing the facility management fee. A positive decision has to represent more than half of all apartment owners. Based on complex evaluation of the specific project, the amount of owners' support may be reviewed.
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Information about the owners of the apartments of the building.
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The borrower's legal and financial documents.
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Energy audit of the building.
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Information about the building to be renovated (including the details on the required works and the estimate thereof).
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A simplified technical design of the renovation works.
| Service | Fee |
|---|---|
| Revision of the application | Free of charge |
| Processing of a loan, increasing of the limit (% of the amount of the increased limit)1 | 1%, min 150.00 EUR |
| Reserving loan resources (calculated in % for the unused amount of the granted loan) | 0,5% |
| Repayment of the loan before maturity (% of the amount repaid before maturity) | 2%, min 100.00 EUR |
| Prolongation of a loan maturity1 | 0,5%, min 150.00 EUR |
| Other changes to the loan agreement on the customer's initiative (% of the loan balance)1 | 1%, min 150.00 EUR |
| Uninsured collateral maintenance2 | 20.00 EUR per month |
| Additional services | |
| Valuation of collateral | 0,1%, min 50.00 EUR |
| Document submission for registration of the pledge in paper format | 50.00 EUR |
| Preparation of documents and applications needed for crediting services | 15.00 EUR/hour |
| Preparation of loan agreement and collateral agreements in electronic format | Free of charge |
| Preparation of loan agreement and collateral agreements in paper format | 35.00 EUR |
| Preparing, drafting and approving bank's consents/authorisations and other documents upon the customer's request | By agreement, min 70.00 EUR |
| Printout of information from LURSOFT database (financial statements, full information about the company, etc.) upon the customer’s request | 10.00 EUR (plus VAT 2.10 EUR) |
| Confirmation of loan issuance | By agreement, min 30.00 EUR |
1 The commission fee must be paid on the day the agreement or amendments are signed.
2 Commission fee is applied if the collateral is not insured (insurance policy is not provided to the bank) more than 30 days since expiration of the previous insurance policy.
Collateral
- Future cash flows (a commercial pledge on receivables) and a deposit in the amount of at least two loan payments
- Guarantee by Altum
Additional terms
- Loan repayment from the payments of the apartment owners for facility management
Want to make sure you find a suitable solution?
- Our client executives will help you find the suitable financing solution for your business.
- We have a dedicated team of professionals you can trust.
