You have proposed a “green mortgage” initiative…what is it specifically?

February 3, 2009 at 2:42 pm | Posted in FAQ | Leave a comment

The basic concept is very simple… A bank agrees to offer financial incentives on their mortgages if the housing unit can demonstrate – via the mandatory energy certificate – that it has superior energy efficiency. The home buyer receives a monthly benefit as the mortgage payments are matched with considerably lower monthly energy bills. The bank has the greater security of a mortgage on a more valuable house and greater payment reliability from a home buyer with less energy expenses.

Quite simply, the green mortgage concept demonstrates new thinking on the valuation reducing potentially significant energy costs over the many years of home ownership. The RoGBC is in conversations with different banks and real estate developers to introduce this as a pilot project then roll it out as a new concept in home mortgages.

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