Month: September 2016

Better mortgages could be offered to energy efficient homebuyers

Homebuyers across the EU could be offered better borrowing rates on mortgages in return for purchasing more energy efficient homes or committing to implement energy saving work within properties as part of a “ground-breaking” new project.

The European Energy Efficiency Mortgage initiative is aiming to create a standardised “energy efficient mortgage” based on preferential interest rates for energy efficient homes or additional funds for retrofitting homes at the time of purchase.

The scheme has been cited as the first ever collaboration between groups of major banks, mortgage lenders, businesses and organisations from the building and energy industries for the purpose of addressing the concept of energy efficient mortgages, with the project having been launched by a consortium led by the European Mortgage Federation (EMF) and the European Covered Bond Council (ECBC).

The World Green Building Council (WorldGBC) claims that creating a private bank financing mechanism to encourage improvements in the energy efficiency of households is a key means of helping the EU to meet its energy saving target of 20 per cent by 2020 and to deliver on the ambition of the Paris Agreement reached at COP21 last December.

Read the full article in Energyzine

Comment: This seems a great idea, which could be adopted in the UK. Perhaps it could be incorporated into the Bonfield Review or be one of the announcements by the new Department for
Business, Energy & Industrial Strategy – when it finally decides what it will do to improve home energy efficiency in the home – thus revitalising a new version of the Green Deal initiative.

This is a great “carrot” for those selling and buying at house. And finally, will make the EPC (Energy Performance Certificate) rating worth something that can be promoted by Estate Agencies,