Asmens duomenų apsauga > Insurance products/services > The insurance of credit for modernization of multi-apartment houses
 
The insurance of credit for modernization of multi-apartment houses Spausdinti El. paštas
The aim of the Lithuanian Housing Strategy:  
 To grant effective use of the existing housing stock;
     Maintenance;
     Refurbishment;
     Modernisation;
     Rational use of energy resources.
 
The aim of the Programme for Modernisation of Multi-Apartment Houses is to create effective conditions for integrated modernisation of multi-apartment houses and residential areas seeking:
     improved quality of life;
     rational use of energy resources.
 
THE FOLLOWING MORTGAGES FOR MODERNISATION OF MULTI-APARTMENT HOUSES CAN BE INSURED:
      *granted according to the Modernisation Programme approved by the
        Government of the Republic of Lithuania;  
      *commercial mortgages.
 
REQUIREMENTS ON THE INSURED MORTGAGE AND THE INSURER
   *an insurer can be:
         -a home owners association which joins owners of apartments and other
          premises;
         -owners of apartments and other premises in a multi-apartment building
          who concluded a contract on joint activities;
   *the purpose of the mortgage must be funding of modernisation of a multi
     apartment house according to an investment project;
   *the mortgage cannot exceed 95% of the investment amount;
   *mortgage can be granted in litas or euros.  
 
*The association must be established at least three months prior to submission of an application to the Company asking to conclude a mortgage insurance contract;
the association must be registered for an unlimited period;
* At least 50% + 1 owners of apartments must approve the investment project and * the decision to take a mortgage, to insure the mortgage, to accumulate funds for mortgage repayment and to pay interest;
* The insurer cannot be overdue with payments to utility companies, financial, leasing and other companies for more than 30 days;
* The number of apartment owners who are overdue for more than 30 days with payments of over LTL 200  (EUR 57,92) to utility companies or the association cannot exceed 10% of all apartment owners.
 
The number of owners of apartments and other premises in the multi-apartment house(s) to be modernised who approved the decision to modernise the multi-apartment house(s)
Insurance fee rates, %
From 50% + 1 voice (inclusive) to 60%
0.52
From 60% (inclusive) to 70%
0.44
From 70% (inclusive)
0.37
 
The insurance fee is calculated multiplying the insurance fee rate by the outstanding part of mortgage at the end of each calendar year plus administrative expenditures.
 
ADMINISTRATIVE EXPENDITURES OF AN INSURANCE CONTRACT
 
 
Type of expenditures Amount (LTL)
Expenditures on conclusion of an insurance contract (onetime)
50 (EUR 14.5)
Expenditures on fulfilment of the insurance contract for each insured year
71 (EUR 20.5)
Expenditures on termination of the insurance contract (onetime)
50 (EUR 14.5)
 
 
The insurance fee can be paid:
       periodically (annual);
       onetime.
Irrespective of the selected manner of payment—periodical or onetime—of the insurance fee, the amount of the fee remains the same.
 
The Company cooperates with banks which are registered in the manner established in the Republic of Lithuania and which offer mortgages for modernisation of multi-apartment houses:
• DnB bankas AB
• „Hansabankas“ AB bank
• Medicinos bankas UAB
• Nordea Bank Finland Plc Lithuanian Branch
• PAREX bankas AB
• SAMPO bankas AB
• SEB bankas AB
• „Snoras“ AB bank
• Šiaulių bankas AB
• Ūkio bankas AB