Everything You Need to Know About the Home Improvement Loan in the Walloon Region
The variety of home improvement loan offers in the Walloon Region allows a wide audience to undertake renovations with attractive offers.
The Home Improvement Loan in the Walloon Region, What You Need to Know
Undertaking home renovations often encompasses two seemingly contradictory aspects. On one hand, they are essential to save on energy bills and contribute to environmental protection.
However, to achieve these savings from work that will make your home more energy-efficient, significant expenses are sometimes necessary.
This is why the Walloon Region has set up various schemes to help you access a home improvement loan under favorable conditions. Depending on the type of renovation, you can benefit from a loan through the Société wallonne du crédit.
Ecopack and Renopack
To date, the Walloon government has offered two main solutions for zero-interest renovation loans: Ecopack and Renopack. In 2019, these programs underwent revisions, not in their philosophy, but in their application terms.
Now, they allow for loans of up to 60,000 euros for substantial home renovations, according to necessity.
Completely replacing old plumbing, repairing a worn roof, or updating a home’s facade for energy efficiency are no longer challenges as these projects can be funded by this interest-free loan.
These loans are now repayable over a 30-year period, a major step forward because it reduces monthly payments, aligning them closely with energy savings.
Budget-wise, this means that the homeowner doesn’t overspend in the pursuit of renovations.
In cases where energy-related subsidies are available, Walloon institutions will directly deduct them from the loan’s value.
What is Covered by the Walloon Region?
While these loan options provided by the Walloon Region are broadly accessible, certain eligibility criteria must still be met, similar to any grant, ensuring your repayment capacity.
Such criteria include income limits (less than 90,000 euros annually per household), a minimum of 10 years of home ownership, no more than two children, among others.
These criteria remain flexible enough to enable renovation and energy-saving projects under optimal conditions.
Do not hesitate to inquire if you meet the mentioned criteria.
