IB.SH WEGfinancing

IB.SH WEGfinanz offers a tailored financing solution for private condominium owners in Schleswig-Holstein who wish to implement modernization and renovation measures within their condominium association (WEG). Through low-interest loans ranging from €5,000 to €35,000 per residential unit, investments are feasible even from smaller amounts. Thanks to the cooperation between Investitionsbank Schleswig-Holstein (IB.SH) and KfW, even small loans can be processed economically, without requiring registration in the land register. Each WEG member is liable solely for their own loan and benefits from a simplified application process without disclosure of private income or asset data.

A prerequisite for funding is a resolution by the WEG regarding the specific modernization project as well as the authorization of the property management to coordinate the financing. Additionally, there must have been no arrears in service charges in the past three years. Eligible expenses include the pure modernization and renovation costs as well as the property manager’s fees. Excluded, for example, is the installation of an independent heating boiler operated exclusively with fossil fuels. The application process is handled centrally through the property management, which submits all documents – application form, power of attorney form, and credit report. After a positive credit assessment, disbursement occurs at the start of construction, while the property manager provides proof of use for the entire measure. In this way, IB.SH WEGfinanz contributes to sustainable investments and future-proof housing development in the true North.