{"id":10579,"date":"2020-01-27T11:18:00","date_gmt":"2020-01-27T10:18:00","guid":{"rendered":"http:\/\/www.shmadrid.com\/blog\/en\/?p=10579"},"modified":"2020-01-17T12:13:10","modified_gmt":"2020-01-17T11:13:10","slug":"green-mortgages","status":"publish","type":"post","link":"https:\/\/www.shmadrid.com\/blog\/en\/green-mortgages\/","title":{"rendered":"Are You Familiar with Green Mortgages?"},"content":{"rendered":"

There are several green mortgages or green loans on the market at the moment, and if you have the intention of buying or renovating a property<\/strong>, it can be interesting to check out if you can take out a green loan.<\/p>\n

Green loans \u2013 or energy efficiency mortgage programs – focus on the environment to improve a property\u2019s energy efficiency<\/strong>.\u00a0If you invest in improving energy efficiency, you can reduce your energy consumption and save on your electricity bills, while doing your part to prevent climate change.<\/p>\n

Today, this article by ShMadrid<\/strong><\/a> will tell you a bit more about green mortgages.<\/p>\n

Related article:\u00a0Requirements for a Mortgage in 2020<\/a><\/em><\/p>\n

What do you know about green loans? Here are some interesting facts<\/h2>\n
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Photo via Pixabay<\/em><\/p><\/div>\n

If you don’t know anything at all about green mortgages<\/strong>, then let\u2019s start with the information that this loan is only granted under very special conditions, related to the energy efficiency of the building. This means that the installations of a property<\/strong> must be sustainable, resulting in lower electricity consumption.<\/p>\n

A certain part of all CO2<\/sup> emissions result from gas from residential homes, and this is what causes the greenhouse effect, the main source of global warming. Sustainable housing<\/strong>, however, can have a positive influence by significantly reducing these effects.<\/p>\n

And as everyone is (finally) concerned about saving the Earth, they have come up with a new form of financing, making it cheaper to borrow money from the bank<\/strong><\/a> to improve a home\u2019s infrastructure. Do you know what the requirements are for being granted a green mortgage?<\/p>\n

First of all, any company or individual can apply for it. The most important characteristic of the mortgage has to do with the building\u2019s energy label<\/strong>. The higher the score or qualification, the lower the interest rate on your mortgage.<\/p>\n

A property<\/strong> is considered to be \u201cgreen\u201d when the energy efficiency certificate<\/strong><\/a> issued has a score of A, B or A+. And this certificate should be arranged for any property that is for sale<\/strong><\/a> or for<\/strong> rent<\/strong>, ever since 2013. One must be able to have insight in the consumption of a property and its emission rate.<\/p>\n

If a property doesn\u2019t have this certificate, the owner could get a fine of 6000 euros, but these rules don\u2019t apply to properties of 50 m2<\/sup> (or less) or rental properties that are rented out for less than 16 weeks per year. These are exempt.<\/p>\n

Related article:\u00a0ITP, the Unknown Tax<\/a><\/em><\/p>\n

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Photo via Pixabay<\/em><\/p><\/div>\n

Who is in charge of issuing these energy certificates? The people that are directly responsible for it are private companies with technicians that will visit and check your<\/strong> property<\/strong>. They will provide you with the necessary documentation (including the label), in accordance with the surface of the building.<\/p>\n

The main objective of getting each house more sustainable is to lower CO2<\/sup> emissions, and this can only be achieved by installing effective installations that reduce energy consumption.<\/p>\n

According to the European Commission, a property will be qualified \u201csustainable\u201d when it saves 30% on its energy.\u00a0In fact, homes that have an A+ label save considerably more than that, and this could mean saving up to thousands euros per year! But this is only when installations use natural resources, leading to a minimum use of energy.<\/p>\n

The only downside to constructing an A+ house is that it is very expensive, and that is why property developers can also apply for green mortgages, which can later be transferred to the buyer of a property.<\/p>\n

In 2019<\/strong> a new mortgage law<\/strong><\/a> went into effect, and in it they refer to a large part of the costs of a mortgage being paid by the bank<\/strong>, but so far, green mortgages are not mentioned anywhere in this new law.<\/p>\n

So in principle, banks would not be obliged to pay legal document tax, but there are entities that automatically become liable.<\/p>\n

Do you have other useful information about green mortgages?<\/strong><\/p>\n

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There are several green mortgages or green loans on the market at the moment, and if you have the intention of buying or renovating a property, it can be interesting to check out if you can take out a green loan. Green loans \u2013 or energy efficiency mortgage programs – focus on the environment to […]<\/p>\n","protected":false},"author":318,"featured_media":10582,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[1578],"tags":[2301,2300,2299,2302],"_links":{"self":[{"href":"https:\/\/www.shmadrid.com\/blog\/en\/wp-json\/wp\/v2\/posts\/10579"}],"collection":[{"href":"https:\/\/www.shmadrid.com\/blog\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.shmadrid.com\/blog\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.shmadrid.com\/blog\/en\/wp-json\/wp\/v2\/users\/318"}],"replies":[{"embeddable":true,"href":"https:\/\/www.shmadrid.com\/blog\/en\/wp-json\/wp\/v2\/comments?post=10579"}],"version-history":[{"count":8,"href":"https:\/\/www.shmadrid.com\/blog\/en\/wp-json\/wp\/v2\/posts\/10579\/revisions"}],"predecessor-version":[{"id":10592,"href":"https:\/\/www.shmadrid.com\/blog\/en\/wp-json\/wp\/v2\/posts\/10579\/revisions\/10592"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.shmadrid.com\/blog\/en\/wp-json\/wp\/v2\/media\/10582"}],"wp:attachment":[{"href":"https:\/\/www.shmadrid.com\/blog\/en\/wp-json\/wp\/v2\/media?parent=10579"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.shmadrid.com\/blog\/en\/wp-json\/wp\/v2\/categories?post=10579"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.shmadrid.com\/blog\/en\/wp-json\/wp\/v2\/tags?post=10579"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}