KBC Renovation Loan for Owners’ Associations
- A joint loan for renovations to the communal areas of your apartment block
- Each apartment owner decides whether or not to participate
- Insurance cover for owner non-payment
Why take out a KBC Renovation Loan for Owners’ Associations?
Insulation and energy-efficiency standards in Flanders are becoming increasingly strict on account of the Flemish renovation strategy, which aims to ensure that all houses and apartments have an EPC ‘A’ label by 2050 . Did you know that just 11% of apartments had an EPC ‘A’ label by 2022? That means there’s still a lot of renovation work to be done.
Energy-saving and eco-friendly renovations (including facade insulation, a new roof and solar panels) often come with a hefty price tag. However, not everyone can or is willing to dip into their savings or take out a personal loan to cover the work involved.
That’s where we can come in and help you with renovating your apartment block in a sustainable way. Ultimately, it will benefit not only your wallet and the planet, but also the value of your building. The KBC Renovation Loan for Owners’ Associations is used to finance renovations to the communal areas of an apartment block.
It has many benefits:
- You are sure of when the renovation works can start
- You have the certainty of knowing how much you have to pay back and for how long
- Not all individual owners have to participate in the loan
- Owner’s Association (OA) credit insurance protects the financial reserves of the individual owners and the OA if one of the borrowers is unable to repay their share of the loan
- The investment increases the value of the building
More information about the KBC Renovation Loan for Owners’ Associations
KBC Renovation Loan for Owners’ Associations is an investment loan for an OA, with:
- a term of three to 25 years
- a fixed rate of interest
- equal repayments
- at least three members of the OA participating in the loan
It is intended for financing essential energy-saving renovations costing at least 100 000 euros in the communal areas of a building, including forroof insulation, façade improvements, solar panels and central heating.
The OA takes out OA credit insurance, covering them and all their members should one of the borrowers be unable to repay their share of the loan.
If you need to borrow less than 100 000 euros, go to our ‘For your home’ section to see what options are open to you.
To find out exactly how a KBC Renovation Loan for Owners’ Associations works, check out the step-by-step guide to the KBC Renovation Loan for Owners’ Associations.
This insurance protects all the owners if one of the borrowers cannot repay their share of the loan. Credit insurance is taken out in the name of the OA and is required when concluding the KBC Renovation Loan for Owners’ Associations.
Apply for a KBC Renovation Loan for Owners’ Associations
- Fill in the application form
- A KBC employee will contact you....
- ... and go through the application process with you.
