Administrators can also apply to Šiaulių Bankas for renovation of multi-apartment buildings

Šiaulių Bankas offers preferential renovation loans not only for owners of apartments/premises, but also for managers of the facilities of common use (i.e. administrators).

Borrowing conditions:

  • beneficiary: the administrator (a homeowners’ association/an administrator of the facilities of common use of a multi-apartment building (legal entity)/a multi-apartment building acting on the basis of a joint activity agreement among apartment owners or any other person entitled by the law of the Republic of Lithuania to act as a manager of the facilities of common use of a multi-apartment building);
  • currency of the loan: Euro (paid in the Lithuanian Litas or Euro; a currency exchange fee is not applicable; the official Lithuanian Litas to Euro exchange rate published by the Bank of Lithuania is applied);
  • amount of the loan: unlimited, but not larger than the value of construction works, indicated in the renovation (modernisation) project;
  • fixed annual interest rate: 3%;
  • maximum loan maturity: 20 years;
  • grace period for repayment: until the end of renovation works, but not longer than 30 months from the first date of payment;
  • no fees for document analysis, loan administration, changes in obligations or the terms and conditions of the contract, early repayment. Other fees are applied according to standard bank fees;
  • reimbursement of 15% of investments of the renovation (modernisation) project used for energy efficiency measures as indicated in the investment plan;
  • additional state support: 15% of the investments is compensated, if after the implementation of a renovation (modernisation) project the multi-apartment building attains no lower than energy efficiency class D and the calculated heat energy consumption is reduced by at least 40% as compared to the heat energy consumption prior to the implementation of the renovation (modernisation) project.

The Administrator must deliver the following documents:

  • an application in the form prescribed by the bank for a loan from the Holding Fund for the renovation of a multi-apartment building under the JESSICA programme;
  • a renovation (modernisation) project of the multi-apartment building drafted as prescribed by the law and coordinated with HUDA, and the energy efficiency certificate of the multi-apartment building;
  • resolutions of at least 60% of the owners of apartments/premises of the multi-apartment building (one vote per apartment) adopted and recorded in the minutes in the form prescribed on the following matters:

- the approval of the renovation (modernisation) investment plan and the distribution of investments among owners of apartments/premises;
- the approval of the monthly amount of the accumulative contribution for implementation of the renovation (modernisation) project;
- the approval of the maximum monthly amount of other payments for implementation of the renovation (modernisation) project;
- borrowing by the manager of the facilities of common use (taking a loan) to finance the renovation (modernisation) project;
- the approval of the payment procedure in relation to investments into implementation of the renovation (modernisation) project;

  • a valid copy of the Articles of Association and the Certificate of Incorporation of the Administrator (legal entity) / a valid copy of the Articles of Association and the Certificate of Incorporation of the homeowners’ association / a joint activity agreement;
  • decision of the Director of the municipal administration or the authorised person (or a certified copy of such decision), appointing the administrator of the facilities of common use for a multi-apartment building which does not have a homeowners’ association and does not operate under a joint activity agreement;
  • an identity document and a letter of authorisation for a natural person acting on behalf of the Administrator;
  • a list of owners of apartments/premises, indicating a full name of each owner (name and address for a legal entity) and the area of the apartment/premises owned;
  • a statement drafted by the Administrator on apartments/premises used for economic activities and a statement of HUDA/HESA on the use of de minimis funds for persons whose apartment(s) and other premises is (are) used for economic activities;
  • certificates from utility companies (companies that provide heating, electricity, water, gas and municipal waste transportation services) and from the manager of the facilities of common use of the multi-apartment building on outstanding payments of the homeowners’ association/apartment owner, indicating the outstanding amounts, due dates, due dates and outstanding amount of each indebted apartment owner;
  • court decision(s) regarding borrowing, where minors are apartment owners or where persons who own an apartment under the title partial ownership disagree on whether to sign a loan agreement and expressly state their disagreement.