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LLB promoting sustainable construction and renovation projects

14 Jul 2023
Vaduz - Liechtensteinische Landesbank (LLB) is offering innovative financing solutions for sustainable construction projects. These include interest-free mortgages for energy-efficient renovations. For new properties in the top energy efficiency categories, very attractive mortgage interest rates will be available.

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Liechtensteinische Landesbank (LLB) is supporting sustainable construction projects with innovative financing solutions, further details of which can be found in a press release. Customers who prioritize energy efficiency for new buildings are to be offered particularly advantageous conditions, while in future there will even be interest-free mortgages available for energy-efficient refurbishments, as LLB writes in the press release. However, this will first require an amendment to the Liechtenstein Energy Efficiency Act (Energieeffizienzgesetz). LLB has also announced plans to launch a new website dedicated to providing extensive information on sustainable construction from 2024 onwards.

«Real estate accounts for around 35 percent of greenhouse gas emissions in Liechtenstein. As the market leader when it comes to granting mortgages and building loans in Liechtenstein, we believe we have a particular responsibility to help the country become climate-neutral», explains LLB Group CEO Gabriel Brenna.

According to the press release, with effect from January 1, 2024, LLB will support customers who prioritize the highest energy efficiency standards when developing a new property by making the existing environmental mortgage more flexible and expanding it. These customers will be offered «very attractive mortgage interest rates», LLB writes in the press release.

Zero percent mortgages for energy-efficient refurbishments will be newly on offer from 2024 at LLB. In terms of how this works, the press release explains: «Clients who need finance for works to make their existing property more energy-efficient will not pay any interest up to a defined maximum amount». This has been made possible because the government is keen to make interest-free capital available to banks in order to facilitate energy-efficient measures. ce/gba