{"id":10211,"date":"2018-12-11T20:00:11","date_gmt":"2018-12-12T01:00:11","guid":{"rendered":"http:\/\/www.energyrefuge.com\/blog\/?p=10211"},"modified":"2018-12-11T20:00:12","modified_gmt":"2018-12-12T01:00:12","slug":"green-mortgages-heres-what-you-need-to-know","status":"publish","type":"post","link":"https:\/\/www.energyrefuge.com\/blog\/green-mortgages-heres-what-you-need-to-know\/","title":{"rendered":"Green Mortgages: Here\u00e2\u20ac\u2122s What You Need to Know"},"content":{"rendered":"

A shelter is a basic human need. The need for housing continues to rise with the increase in population. The housing industry has undergone a huge transformation with advances in technology. This has enabled the provision of diverse services that improve the homeownership experience.<\/span><\/p>\n

Mortgage\"\"<\/a><\/b><\/span><\/p>\n

The evolution of the industry has seen a commensurate rise in the cost of home ownership. The majority of the population cannot afford housing without the help of financial mechanisms. This need led to the birth of the mortgage.<\/span><\/p>\n

Simply put, a mortgage is a facility that enables the individual to borrow money from a bank or any other financial institution for homeownership purposes. <\/span><\/p>\n

Lately, there has been an awareness program that seeks to get things done efficiently with little or no harm to the environment. This has led to a campaign to upgrade homes in compliance with the green revolution.<\/span><\/p>\n

<\/p>\n

Green mortgages<\/b><\/span><\/p>\n

Green mortgages are loan facilities<\/a><\/span> that allow the transformation of a house into an environmentally friendly unit. These environmentally friendly improvements also help in driving down the cost of running essential services like cooling and heating the houses in the long run.<\/span><\/p>\n

These loans are also known as energy efficient mortgages (EEM\u00e2\u20ac\u2122s). Far from being secondary mortgages, EEM\u00e2\u20ac\u2122s are disbursed separately but can be incorporated into the original mortgage payment plan. This allows for single monthly payment plans.<\/span><\/p>\n

Benefits of Green mortgages<\/b><\/span><\/p>\n

What are the immediate benefits of EEM\u00e2\u20ac\u2122s? Here are some facts about domestic energy usage that can help put this into perspective.<\/span><\/p>\n

\u00e2\u20ac\u00a2\u00c2\u00a0 \u00c2\u00a0 <\/span>Insulation is a major factor when it comes to driving up costs of energy in the home<\/span><\/p>\n

\u00e2\u20ac\u00a2\u00c2\u00a0 \u00c2\u00a0 <\/span>Heating and cooling accounts for between 50-70% of domestic energy usage<\/span><\/p>\n

\u00e2\u20ac\u00a2\u00c2\u00a0 \u00c2\u00a0 <\/span>Updating your house insulation can save up to 10% of your annual energy bill.<\/span><\/p>\n

These losses occur due to structural inefficiencies within the home. <\/span><\/p>\n

For example, loss of energy from inefficient insulation in the windows accounts for approximately 25% of the yearly cost<\/span><\/a> of heating and cooling the home. <\/span><\/p>\n

Similarly, installation of newer versions of efficient electronic appliances can lead to much-needed savings.<\/span><\/p>\n

Apart from saving annual cooling and heating costs, these mortgages also help in saving the environment. Environmental conservation is a major theme of sustainable development.<\/span><\/p>\n

Homes that have energy efficient upgrades have a comparative advantage over homes that don\u00e2\u20ac\u2122t in the following day to day user experiences.<\/span><\/p>\n