Take advantage of the Flemish renovation loan, despite the possible waiting period of several months. With 3,836 applications this year, this option is extremely popular. Although the loan is no longer interest-free, it remains attractive thanks to its low interest rate.
The Flemish renovation loan was created on 1 September 2022 to help owners improve their homes and apartments. This loan is intended for private owners within the lowest and middle income groups, and for landlords without income limit.
Despite the interest rate of 2.25%, the renovation loan remains very attractive. For comparison, the interest rate for a classic renovation loan is currently above 4%. Energy loans can be a little cheaper, but their interest is still rarely lower than 3.89%.
As for the processing time, the average processing time for all files processed since 1 September last year was 103 days. This waiting time can vary depending on the Energy House where the application was submitted. For applications submitted since January and already approved, a processing time of only 74 days was recorded.
If you are planning to apply, you can apply for a loan for works that are necessary or make your property more energy efficient. This can range from renovation of the roof, exterior walls, floors, foundations, windows and doors, to installation of a (hybrid) heat pump, heat pump boiler, solar boiler or condensing boiler on gas.
Even with a possible waiting period of several months, the Flemish renovation loan remains an excellent option to finance your renovation project.
