Brussels Housing Fund restricts conditions of access to its mortgage loans
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Loading... - Maria Laine
- 30 May 2023
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The Brussels Housing Fund announced on Tuesday that it was compelled to impose restrictions on the eligibility criteria for its mortgage loans in order to continue providing support to the most disadvantaged residents of Brussels. Going forward, only households falling within the income bracket designated for social housing will be qualified to apply for the acquisitive mortgage loan, which carries an interest rate ranging from 3.25% to 5%. Similarly, the Ecoreno loan, with interest rates of either 1.5% or 2.5%, will only be available to households meeting the social housing income criteria. These revised conditions will remain in effect until the end of the year, specifically until 31 December.
The criteria for accessing the Ecoreno consumer credit have not been altered, although the interest rates will increase to 1.5% and 2.5%. The Housing Fund clarified that it has been confronted with a significant surge in mortgage loan applications over the past few months. "Given our remarkable success, it has become necessary to implement these new measures in order to sustain our social initiatives aimed at supporting the most vulnerable households in Brussels," stated Lieve Lalemant-Scheerlinck, the President of the Fund's board of directors.
The government of the Brussels Region has endorsed these newly implemented eligibility criteria. The Ecoreno mortgage loan was introduced last August with the objective of assisting property owners and tenants in financing home improvements. The loan encompasses various types of works, such as energy-saving renovations, enhancements to occupants' autonomy, safety, and health, as well as improvements to overall habitability. Ecoreno serves as a mortgage loan option for individuals looking to purchase a home.
