From today you can borrow up to 60,000 euros interest-free for a renovation – Wonen

From today you can borrow up to 60,000 euros interest-free for a renovation – Wonen
From today you can borrow up to 60,000 euros interest-free for a renovation – Wonen

Many Flemish houses are still very outdated. That is why you can borrow up to 60,000 euros interest-free from 1 September for the renovation of your home. The focus must be on improving both the quality of living and energy performance.

Many homes in Flanders score poorly in energy terms, and that is no longer tenable in times of unprecedentedly high gas prices. The need for good insulation and other energy-saving measures is therefore greater than ever. But that requires significant investment. To somewhat tame the financial hangover, Flemish energy minister Zuhal Demir (N-VA) launched Mijn VerbouwPremie earlier this year.

Many homes in Flanders score poorly in energy terms, and that is no longer tenable in times of unprecedentedly high gas prices. The need for good insulation and other energy-saving measures is therefore greater than ever. But that requires significant investment. To somewhat tame the financial hangover, Flemish Energy Minister Zuhal Demir (N-VA) launched Mijn VerbouwPremie earlier this year. It combines the former renovation premium and energy premiums of grid operator Fluvius. In the past, residents and landlords could apply for the renovation grant separately for all kinds of work on a home. These could relate to the structural elements of the building, as well as to the roof, exterior joinery and technical installations. The energy premiums focused on insulation and energy-saving installations such as solar panels, heat pumps and solar boilers. You can apply for the unified Mijn VerbouwPremie online from 1 October 2022. It was created for those who invest simultaneously in quality of living (roof, floor, interior wall or roof renovation, windows and doors, electricity, sanitary installation, …) and energy efficiency (insulation, gas condensing boiler, renewable energy production, …). Mijn VerbouwPremie is aimed at three target groups: owner-occupiers, landlords and investors. This can be both private individuals and legal entities. Depending on the target group to which you belong, the age and function of the building, your family composition and the income category to which you belong will be taken into account. However, the conditions and modalities are quite complicated. Fortunately, you can easily check the premium amount to which you are entitled via an online simulator. In addition to Mijn VerbouwPremie, the Flemish government has also launched Mijn VerbouwLoan. This will replace the Energy Loan from 1 September 2022. With My Renovation Loan you can pre-finance your renovation projects interest-free up to 60,000 euros. But just as with Mijn VerbouwPremie, these projects must focus on improving both the housing quality and the energy performance of the building. This interest-free loan is available from a loan amount of 1,250 euros. The maximum repayment term is 25 years. Please note: the credit only remains interest-free as long as the statutory interest rate remains below the 3 percent limit. The application goes through the Energiehuis of your municipality. No file costs are charged. On the basis of your financial situation and repayment capacity, the Energiehuis determines which loan amount and which term is feasible for you. Maximum amounts apply for all interventions. But you can also submit an application for the investment in solar panels (for which a premium is given by Fluvius). In principle, the invoices may not be older than the loan application date, but an exception applies for applications before 1 November 2022. The house must be located in the Flemish Region and must be at least fifteen years old at the time of the application. Separate conditions apply for investments in, among other things, a solar boiler, a heat pump and solar panels. Five target groups are eligible for My Renovation Loan:1. Private owner-occupiers from the lowest and middle income categories of Mijn VerbouwPremie. This means that a single person may earn a maximum of 46,170 euros per year. For singles with one dependent and couples without one, an income limit of 65,960 euros applies. For each additional dependent person, the amount is increased by EUR 3,700.2. Private landlords who will either rent out the house to a social rental agency, or will charge a monthly rent themselves that is a maximum of 900 euros (or 1,000 euros in the center cities). Depending on the amount of the loan, they must in the latter case grant an additional monthly discount of 20 to 80 euros on the rent for a period of nine years. There are no income maximums for this target group.3. Individuals who acquire the home through an inheritance or gift in full ownership (but do not necessarily have to live in it). In the past they could apply for an Energy Loan+ for this, but that too is now being replaced by My Renovation Loan. A condition is that the applicant belongs to the lowest or middle income category of Mijn VerbouwPremie.4. Non-commercial institutions or cooperative societies.5. Associations of co-owners. Anyone who has previously taken out an interest-free renovation loan (via his bank) or an Energy Loan + is no longer eligible for My Renovation Loan. Anyone who purchases a house or apartment with a poor energy performance (EPC label E or F) from 1 January 2023 cannot claim this either. But it is still possible until December 31, 2022. From next year, homes with a substandard EPC label can still be financed via an interest-free renovation loan. You can apply for My Renovation Loan for your municipality via the Energiehuis from 1 September 2022 until the end of 2026. for this only time until December 31, 2024.


The article is in Dutch

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