OREANDA-NEWS. SEB will begin to issue home loans to clients who are borrowing to buy, build or renovate their existing homes to make them more energy efficient and who wish to use a guarantee from KredEx for that purpose.

“Any investment aimed at energy efficiency is definitely a wise decision, since it enables people to improve their living conditions and save on energy costs. More energy efficient buildings also have a longer useful life and, furthermore, carry a higher value on the real estate market. Accordingly, for families planning to renovate or also buy or renovate their homes, home loans guaranteed by KredEx are an opportunity on easy, attractive terms,” said T?nu Sepp, Director of the Retail Banking Division.

A guarantee from KredEx presupposes that the apartment or residence being purchased meets the energy label class of C, at a minimum, when a home loan is being applied for. For the renovation or construction of a home, the requirement is that on completion it should also meet the energy label class of C, at a minimum. The energy label class has to be demonstrated with a current energy label or, in case of the construction or renovation of a new residence, energy efficiency calculations in the building design documentation issued by a qualified expert.

According to Triin Reinsalu, Head of the Housing and Energy Efficiency Division at KredEx, the purpose for issuing loan guarantees for energy-efficient housing is to raise people’s awareness about energy efficiency and steer people towards choosing and building more energy-efficient housing. “Loan guarantees help with the purchase of a home, during the construction of which more thought has been given to the efficiency of the building as a whole and help to make existing residential buildings more energy efficient. This is the first financial service in Estonia that aims to promote the acquisition and creation of energy-efficient real estate,” Reinsalu said.