Multi-Apartment House Renovation (Modernization) Programme

The possibility to reduce heating costs which are growing each year and to improve the condition of the old  house are the reasons to apply for a multi-apartment building renovation (modernization) credit.

Why to choose us? A solid partnership and experience in issuance of credits to renovation projects

For years we have been collaborating with such institutions as:

Šiaulių Bankas is the financing leader of multi-apartment house renovation in Lithuania . Under the new  under the new administrators financing programme the bank provided 1 500 preliminary endorsements regarding regarding signature of credit agreements (the total value of these agreements - 376 million  euros), 1 300 of which have been signed  (total value - 306 million euros).

The list of documents to be submitted to the Bank

The documents that should be provided by the project administrator in order to receive the credit for renovation of a multi-apartment house:

  1. application of the multi-apartment house administrator in the form acceptable to the bank;
  2. a project regarding renovation (modernization) of a multi-apartment house made and approved  by owners of  flats or other premises and coordinated with BETA;
  3. the energy efficiency certificate of the multi-apartment house;
  4. a decision regarding renovation (modernization) of a multi-apartment house made by owners of  flats or other premises;
  5. A free-form certificate prepared and signed by the multi-apartment house administrator regarding flats and other premises located in the multi-apartment building belonging to legal entities  and information on apartments owned by natural persons and other premises occupied for economic activities;
  6. a certificate from Hosing Energy Saving Agency about usage of de minimis aid ;
  7. Certificates from the utility suppliers (heat, electricity, water, gas and companies rendering waste transportation services ) and  from the manager of the objects of common us;
  8. An extract from the real estate register about the owners of the  flats of the multi-apartment houses and other premises;
  9. the list of apartment and other owners;
  10. valid articles of association of the multi-apartment house administrator and registration certificate/ joint activity agreement certified by a notary public;
  11. Agreement of assignment (if renovation (modernization) of a multi-apartment house is implemented by a multi-apartment house administrator authorized by the resolution of the beneficiaries);
  12. Resolution passed by the Municipality or its person in charge stating who is assigned to implement the multi-apartment house renovation (modernization) programme approved by municipality.
  13. a document evidencing the identity of the multi-apartment house administrator and a document proving the basis of repsresntation.
Renovation (modernization) facilities
  • replacement of heating and hot water systems
  • Rearrangement, replacement or equipment of ventilation and recuperation systems
  • Roof insulation
  • Insulation of the facade walls (including the socle)
  • Glazing of balconies and loggias
  • Change of the exterior doors and vestibule door
  • Change of windows in the apartamens and other premises
  • The basement ceiling insulation
  • Renovation (modernization) of elevators
  • Renovation (modernization) of other engineering systems of common use.
Stages of the Multi-apartment House Renovation (Modernization)

The key stages of the renovation:

  • Initiation of a multi-apartment house renovation
  • Flat owners' meeting organization
  • Preparation of an Investment Plan
  • Public discussion of the Investment Plan
  • Investment plan coordination with BETA
  • Approval of the coordinated Investment Plan in the Meeting
  • An application for a loan (submission of documents) to the Bank
  • Bank's preliminary decision
  • Purchase of contractual works
  • Purchase of a Technical Project
  • Verification of a Contractor at the Bank
  • Bank's written commitment to provide funding
  • Purchase of contractual works approved by BETA
  • Credit Agreement Signature
  • Purchase of Technical Maintenance 
  • Implementation of a multi-apartment house renovation
  • Credit Disbursement
  • Certification of a a multi-apartment house 
  • Applying for the state aids
  • State Aid Receipt 
  • Interest and credit payment
Key requirements of the Bank
  • a multi-apartment house is built under the construction permits issued before 1993;
  • investment plan foresees to achieve at least C building energy performance class and reduces previous computational thermal energy consumption by at least 40 per cent;
  • not less than 60 per cent of the house inhabitants agree on taking a credit for renovation;
  • the number of apartment owners that are past due with their obligations exceeding 170 euro for more than 60 days to at least one company rendering utility services or to the manager of the premises of common use (calculating in total) should be less than 10 per cent of all the apartment owners in the house.

Renovation partners

Renovation partners shall:

For more detailed information visit Šiaulių bankas branches or call 8 700 55 055 (+370 37 301 337 from abroad).