Housing company loan

A convenient package for financing renovations, including a flexible and affordable renovation account and a renovation loan adjusted to the housing company's needs. 

• A clear overall solution to renovation financing
• Flexibility and convenience to invoice payments, shareholders’ remittances and calculation of charges for financial costs
• Pre-prepared presentation material for shareholders’ meetings and  housing company board  meetings
• A pre-prepared template for minutes makes the house manager's work easier.

1. Apply for financing for the full renovation budget

The housing company applies for a loan based on the estimated renovation costs.

2. Pay expenses from the renovation account

For the duration of the renovation, a renovation account (current account) is opened for the housing company, with a linked overdraft facility.

• expenses are paid as they arise
• interest is charged only on the utilised amount
• all payment flows related to the renovation are managed through the renovation account
• available throughout the renovation (typically around 6 months to 2 years)

3. Convert the financing into a loan once the renovation is completed

When the renovation is completed:

• the utilised overdraft facility is converted into a housing company loan and the renovation account is closed
• the final loan amount is based on the actual costs