Housing company loan
A smart way to handle renovation financing Housing company loan is a product package tailored especially to the needs of a housing company. The package includes a flexible renovation account and a renovation loan for the housing company. We have developed this product together with house managers.
Benefits to the housing company
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.
Features of the housing company loan
The housing company loan consists of a renovation account for the duration of the renovation and a renovation loan for the loan period.
A housing company loan covers all financing needs during a housing company's renovation. It facilitates the planning of demanding renovations and their realisation. In addition, it enables a flexible repayment schedule for the loan.
The renovation account enables flexible payments during the renovation. Invoices are paid from the account when they fall due and no partial withdrawals are necessary.
The housing company only pays interest for the amount used from the renovation account
In an ordinary loan, the interest-bearing principal rises according to the drawdown plan irrespective of the progress of the renovation. In the renovation account, interest is charged according to the paid renovation costs. This means that you will save in interest expenses during the renovation and do not have to pay for something unnecessary .
Payment of shareholder remittances is convenient through the renovation account and the shareholders can pay off their share of the housing company loan if they want to. After the renovation has been completed, the renovation account is converted to a renovation loan, the loan period of which can be tailored to suit the needs of the housing company.
Housing company’s electronic services
Make an agreement with a Nordea branch and you can order electronic services to ease the housing company's financial planning, follow-up, reporting and financial statements. Balance statements and liability and security statements are conveniently and rapidly available in Netbank or you can download the files through file transfer.
Advice on working capital management
For financial statements, financial planning and follow-up.