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Home Energy Efficiency Loan

New!

Improve the energy efficiency of your house

House renovation. Even better than you planned.

New solution on making improvements to your house! Do it energy efficiently (for example, insulate your house, install modern heating or ventilation system or replace windows and doors) and you will get especially good loan conditions:

  • Special interest rate, starting from 1.99% + 6-month EURIBOR*,
  • Loan amount from 20,000 EUR,
  • Remote process for loan consultation and granting.
Fill in the application

The loan must be secured by mortgage of real estate acceptable to the bank. Please note, that by using these financing services, you are assuming financial obligations. Improper fulfilment or non-fulfilment of financial obligations may have a negative impact on your credit history and make borrowing more expensive; you also risk losing ownership rights to the mortgaged real estate.

Find out possibilities

Insure your Make sure that your newly renovated home is protected from unexpected damages (for example a storm blows your solar panels off the roof, electric fluctuations damage the geothermal heating system or a fire caused by home appliances). Insurance applies to your renovated and already existing structures, home contents and you can choose the liability amount based on your needs.

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Apply as co-applicantFill in application

If a total amount of the home loan being taken out related to real estate is EUR 35 000, when the duration of the credit agreement is 20 years with a 1.99 per cent annual variable interest rate, paying a one-off credit agreement administration fee established by the bank of 0.4 per cent of the credit amount (EUR 180), the minimum daily service fee (EUR 0.70 per month), the mortgage registration fee (EUR 8.60) and annuity mortgage payments, then the annual percentage rate of charge would be 2.140 per cent and the total amount paid by the borrower would be EUR 42 986.25. The total number of loan payments would be 240 and the amount of each instalment would be EUR 179.20.

Insurance premium calculations are tentative and may differ from the final insurance terms and conditions offered to you. Loan Payment Protection Insurance and Home Insurance services are provided by Swedbank P&C Insurance AS Lithuanian Branch through the representative Swedbank, AB. Risk Life Insurance services are provided by Swedbank Life Insurance SE Lithuanian Branch through the representative Swedbank, AB.

  • For improving of your existing private house (for example, private house, twin house, row house), including works which improve energy efficiency, such as:

    • Insulation of all or separate structural elements of the house (walls, floor, ceilings, roof, foundation, etc.).
    • Installation of centralized or local ventilation system with recuperation.
    • Replacing doors and/ or windows with new/more energy efficient ones.
    • Installation of a heating system management tool.
    • Other tools which will improve energy savings (e.g. solar panels, LED lighting, etc.).
  • No need for a down payment as your property is the collateral.

Please note that the Environmental Projects Management Agency (APVA) of the Ministry of Environment of the Republic of Lithuania initiates environmental protection support programs. Follow APVA calls for applications for support for the use of renewable energy sources in households: solar power plants, heating boilers, etc. More information at www.apva.lt

  • Determine how much you can expect to borrow based on your current salary and financial commitments.
  • Think through your renovation plans and how much it will cost.
  • Fill in the application on the Internet Banking site and get a consultation.
  • Evaluation by an independent valuator of real estate and cost estimation will be needed after consultation.
  • The bank notifies you of its loan decision.
  • Sign the loan agreement on the Internet Banking site and set up home insurance or review your insurance covers.
  • After the notarial transaction, the bank will disburse the loan.
  • After you finalize your planned renovations, don’t forget to share your result with the bank by sending in photos.
  • Loan amount from 20,000 EUR.
  • Loan amount cannot exceed 85% of the value or price of mortgaged property, whichever is lower.
  • Loan term up to 30 years.
  • Income at least 500 EUR per month after taxes, at least 800 EUR per month with a co-borrower.
  • Loans are granted to customers by applying a variable interest rate consisting of a 6-month variable interest base Euribor (if the Euribor value is below zero, it is deemed to be equal to zero) and the interest margin from 1.99%.
  • Additional expenses (notary, real estate valuation, pledge registration fee) and bank fees will apply to your loan.
  • Loan is repayable on the basis of annuity or amortization schedule within the agreed term by pre-determined monthly payments on your chosen payment date.

Please note that the process of debiting the amount payable according to the credit agreement from the borrower’s account starts at 5:45 p.m. on the payment day specified in the agreement. We recommend you take care in advance that the sufficient amount of funds is available in your bank account.

  • After completing your energy efficiency renovation work, you will need to send photos as proof.
  • If you fail to use the loan according to its purpose, the bank will have the right to increase the interest rate up to an individually agreed margin.
Service or operation name Fee, EUR
Fee for concluding the agreement
Loan administration fee, fee for increasing of a loan amount 0.4 % of a loan amount (minimum EUR 180)
Fee for amendments to the agreement
Fee for change of loan conditions1 (loan maturity, collaterals, etc.) EUR 180
Fee for setting of a grace period EUR 90
Fee for change of interest rate 0.4 % of taken and outstanding loan amount (minimum EUR 180)
Change of interest type from fixed to variable interest, or change of interest fixation term, or change of long-term variable interest2 term3 X% (minimum - 1.5 %) from outstanding amount of the loan the terms and conditions of which are being changed For the purpose of calculating the variable X, coefficient 0.084 is multiplied by the whole number of months remaining until the end of the interest fixation period or, respectively, until the end of period of the long-term interest fixed for a period exceeding 12 months
Early loan repayment fee
When at the moment of early loan repayment the loan is charged a variable interest rate fixed for a period not exceeding 12 months No fee. Minimum early repayment amount shall be not smaller than EUR 3004
When at the moment of early loan repayment the loan is charged a fixed interest rate or a long-term variable interest rate Compensation amount (C) shall be calculated in accordance with the procedure set forth in Annex 1
Other fees
Fee for granting the approval for remortgage (conditional mortgage) to another creditor5 EUR 150
Late payment charge for the outstanding part of the principal and for unpaid interest 0.05 % per each delayed day
Additional services EUR 45

Comments:

1 Fee for change of the agreement shall not apply in the following cases:

  • when a long-term variable interest rate is charged for euro-denominated loans where not more than 1 (one) month has elapsed after the end of the loan use period;
  • for change of the servicing bank account;
  • for change of repayment day;
  • when the property being mortgaged/already mortgaged to the Bank is insured by the Bank;
  • when the loan repayment schedule is changed upon early repayment of a part of the loan and the loan balance is arranged over the residual maturity of the loan;
  • setting of a grace period for 4 months when borrowers receive 10% or 20% subsidy for existing Mortgage Loan with State Support;
  • setting of a grace period upon early repayment of a part of the loan according to the loan agreement concluded before 12 May 2008, provided that no arrangements on the change of its terms and conditions (except for the agreement on property insurance) have been signed after the specified date;
  • setting of a grace period when according to the loan agreement concluded from 12 May 2008 or according to the loan agreement regarding the amendment of terms and conditions of which arrangements were signed after the specified date (except for the agreement on property insurance), where the early repayment amount is not smaller than EUR 3006;
  • loan agreement termination arrangements when borrowers have paid the loan administration fee of the established amount after conclusion of the loan agreement and the loan has not been granted.

In individual cases higher fee for change of loan conditions may apply.

2 Before entry into force of the Law of the Republic of Lithuania on Credit Relating to Real Property, interest fixed for the period exceeding 12 months, but not for the entire loan maturity, was considered to be fixed interest. As from 1 July 2017, such interest is designated as “long-term variable interest”.

3 No fee is charged when, upon expiry of the term specified in the loan agreement, the long-term variable interest specified in the loan agreement is changed into variable interest in accordance with the terms and conditions of the loan agreement.

4 Were the amount obtained by dividing the outstanding amount of the loan by residual maturity (in months) is smaller than EUR 300, the borrower shall have the right of early repayment of such part of the loan which is smaller than EUR 300.

5 Where the reason for the approval of remortgage is the sale of the mortgaged property to another person who must mortgage such property in order to secure the repayment the loan being taken, the granting of such approval shall be charged a fee as specified in the common Service and Operation Fees of the Bank for the issue of certificates (about loans being granted / already granted / repaid loans.

Annex 1:  Compensation amount (C) shall be calculated in accordance with the procedure

A typical example:

If the total amount of a home loan being taken out related to real estate is EUR 67,000, when the duration of the credit agreement is 26 years with a 2.3 per cent variable annual interest rate, paying a one-off loan agreement administration fee established by the bank of 0.4 per cent of the credit amount (EUR 268), the minimum daily service fee (EUR 0.70 per month), the mortgage registration fee (EUR 31.28) and annuity mortgage payments, then the annual percentage rate of charge would be 2.4 per cent, and the total amount paid to the borrower would be EUR 89,785. The total number of loan payments would be 312, and the amount of each instalment would be EUR 286.

The annual percentage rate of charge, the total amount payable by the borrower, the total number of loan payments and the amount of each instalment are calculated under the assumption that the credit agreement will be valid for a period equal to the duration of the credit agreement, that the entire loan will be paid out on the day that the agreement is signed, that the parties will fulfil all of their obligations properly, and that the variable interest rate, fees and other costs will remain the same as at the time of conclusion of the credit agreement and will continue to apply until the end of the credit agreement. A customer shall also bear the costs of property insurance and appraisal. These costs depend on the individual characteristics of collateral and, therefore, are not included in the total credit price in the example above.

If the loan agreement is concluded in a foreign currency, i.e. if the currency of the customer’s revenues (or the major share thereof) and/or the customer’s state of residence, which is an EU member state or a member state of the European Economic Area, from the currency of the loan issued in euros, the change of the foreign currency compared to euro may significantly increase the amount of the issued loan and the associated payments.

The loan must be secured by mortgage of real estate acceptable to the bank, and the mortgaged property must be insured by concluding an insurance agreement. A report by an independent property appraiser may be required on the value of the collateral. The costs of property insurance and appraisal depend on individual characteristics of collateral, and shall be prescribed by agreements you may have with the relevant service providers.

By using these financing services, you are assuming financial obligations. Improper fulfilment or non-fulfilment of financial obligations may have a negative impact on your credit history and make borrowing more expensive; you also risk losing ownership rights to the mortgaged real estate.

Besides, a loan administration fee may be charged at the time of entry into a credit agreement. Loan administration fees and other fees are provided here.

With the self-service feature, you can:

  • change payment date after the monthly payment has been made;
  • change payment account;
  • make early partial repayments.

A typical example:

If a total amount of the home loan being taken out related to real estate is EUR 35 000, when the duration of the credit agreement is 20 years with a 1.99 per cent annual variable interest rate, paying a one-off credit agreement administration fee established by the bank of 0.4 per cent of the credit amount (EUR 180), the minimum daily service fee (EUR 0.70 per month), the mortgage registration fee (EUR 8.60) and annuity mortgage payments, then the annual percentage rate of charge would be 2.140 per cent and the total amount paid by the borrower would be EUR 42 986.25. The total number of loan payments would be 240 and the amount of each instalment would be EUR 179.20.

The annual percentage rate of charge, the total amount payable by the borrower, the total number of loan payments and the amount of each instalment are calculated under the assumption that the credit agreement will be valid for a period equal to the duration of the credit agreement, that the entire loan will be paid out on the day that the agreement is signed, that the parties will fulfil all of their obligations properly, and that the variable interest rate, fees and other costs will remain the same as at the time of conclusion of the credit agreement and will continue to apply until the end of the credit agreement. A customer shall also bear the costs of property insurance and appraisal. These costs depend on the individual characteristics of collateral and, therefore, are not included in the total credit price in the example above.

If the loan agreement is concluded in a foreign currency, i.e. if the currency of the customer’s revenues (or the major share thereof) and/or the customer’s state of residence, which is an EU member state or a member state of the European Economic Area, from the currency of the loan issued in euros, the change of the foreign currency compared to euro may significantly increase the amount of the issued loan and the associated payments.

The loan must be secured by mortgage of real estate acceptable to the bank, and the mortgaged property must be insured by concluding an insurance agreement. A report by an independent property appraiser may be required on the value of the collateral. The costs of property insurance and appraisal depend on individual characteristics of collateral, and shall be prescribed by agreements you may have with the relevant service providers.

By using these financing services, you are assuming financial obligations. Improper fulfilment or non-fulfilment of financial obligations may have a negative impact on your credit history and make borrowing more expensive; you also risk losing ownership rights to the mortgaged real estate.

Besides, a loan administration fee may be charged at the time of entry into a credit agreement. Loan administration fees and other fees are provided here.

If you are planning to borrow less than 20,000 EUR for home improvements – we recommend taking a look at these loan conditions.

A home loan will be the perfect solution if you need a loan for a new home or construction.

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