The terms of the zero percentage construction have changed this year. As a collateral for the loan, the Bank already accepts properties for which the owners have taken CSOK.
Even last year, the energy efficiency loan program was launched from EU funds.
What is the energy efficiency loan?
Here are the main areas:
- Facade thermal insulation
- Doors and windows replacement
- Lighting and heating modernization
- Solar, solar collector systems, heat pump and biomass heat generating installations
You can already claim an energy efficiency loan online
This year, the program has been significantly renewed: since May, individuals have been able to submit their claims online, at least up to the amount of HUF 5 million . One of the 642 MFB points across the country should only be visited to validate the application and sign the contract. However, in case of a claim higher than 5 million HUF, the whole administration must be handled personally. The initiative runs until December 31, 2022, and claims must be submitted by that date .
Details of the construction
For energy efficiency loans, the maturity can be up to 20 years, and the minimum own funds must reach 10 percent. In the case of housing cooperatives and condominiums , at least HUF 500 thousand and up to HUF 7 million may be raised, while the upper limit of HUF 10 million for family houses. Only the loan amount must be repaid by the end of the term, and there are no related costs . So there is no management cost or submission fee, and the interest is zero percent! However, the borrower is charged in any case where the third party has to pay for the administration.
- Notarial fee
- Appraiser fee
- Energy certificate fee
- Land registry procedural fee
However, many items are eligible, such as preliminary studies, licensing documents, and the cost of technical plans or administrative fees.
$ 115 billion in funding
The total budget of the program amounts to HUF 115 billion. It is expected that from this amount more than 24,000 homes or family houses can be renovated in the coming years.
It also works with bank
As part of this year’s change,Bank, as collateral for the loan, already accepts properties for which a family home discount, tax refund, and a financial institution loan related to these grants have been recorded.
A simpler form
The credit application form itself became more transparent: instead of the previous 49 pages, the document consists of only 13 pages. If you want to be sure before applying, you should complete the online credit assessment questionnaire on the Development Bank website .