Flanders introduces MijnVerbouwLening to give renovations extra support
Flemish ministers Zuhal Demir and Matthias Diependaele are launching the MijnVerbouwLening from this summer. With this loan they want to give people without a penny of their own extra support to renovate their homes. It is an interest-free loan of up to 60,000 euros for the lowest and middle-income households. The ministers make 108 million euros available for this. They want to make clear that a renovation is the best investment to reduce your energy consumption.
The VerbouwPremie combines all Flemish energy and housing premiums through a single point of contact. This gives the middle class and the lowest incomes extra help to renovate. This concerns approximately 61 percent of households. But, there will still be people who do not have the remaining means themselves. That's also why the MyRenovationLoan is coming. "We are releasing 108 million euros to provide additional support to the lowest and middle incomes through interest-free loans up to 60,000 euros to renovate their homes. Private landlords and landlords through a social rental agency are also eligible. In one move, we are also focusing on affordability in the rental market," say both ministers.
Arming against rising energy prices
"With the introduction of My Renovation Loan, many more families will be able to actually realize their renovation plans and thus arm themselves better against rising energy bills. Moreover, this will improve living comfort, reduce natural gas dependency and cut greenhouse gas emissions," said Flemish Minister of Energy Zuhal Demir.
Flemish Minister of Housing Matthias Diependaele adds: "We are also focusing on landlords, where we notice that there are thresholds to get started with a renovation. In addition, the average rent has increased. With the MijnVerbouwlening we now meet all these aspects. The condition for the interest-free loan for the landlord is that he gives a discount to the tenant. This can amount to up to 80 euros per month. The benefits of the interest-free loan are thus shared between the landlord, who sees the quality and value of his home improve, and the tenant, who gets a more affordable and energy-efficient rental home."
The maximum term of the My Rebuilding Loan is 25 years. The My Rebuilding Loan will be available to apply for until the end of 2026. An association of co-owners will also be able to take out such a loan.
Source: Zuhaldemir.be, 18 May 2022