Borrowing money to save energy-how do you proceed? | Payday LoanOn July 1, 2019 by Debra Villegas
Do you want to save energy with solar panels or a heat pump, for example? There are various ways to finance energy-saving measures.
Financing energy saving with a loan
There are several ways to finance the energy-saving measures for your home. For example with a higher mortgage or with a personal payday loan especially for homeowners. In addition to all kinds of national subsidy schemes, you can also borrow money through a sustainability scheme through the municipality.
However, not every municipality or province has this arrangement. Moreover, applying for a loan through the government is often much more difficult than when you take out a personal payday loan. If you want certainty, it is, therefore, better to take out a personal payday loan.
Many lenders can finance energy-saving measures through a higher mortgage. You can then borrow up to 106% (instead of 101%) of the home value. The bank places the extra mortgage amount in a deposit and checks whether you actually spend it on energy-saving measures. In addition, the bank will ask you for purchase invoices.
For investments in energy-saving that still have to take place, you can only borrow up to a maximum of € 9,000 extra. Compared to taking out a green personal payday loan such as Green Loans where you can borrow much more (depending on your personal situation), this option is, therefore, a bit more limited.
Loan from Home
The Home loan is a green loan especially for homeowners who want to make their home more sustainable. For example for solar panels, a heat pump or the installation of cavity wall insulation. Do you want to invest sustainably in your own home? Then choose a Home loan! Ask about the possibilities via ABC.
Who wants to take out this loan must meet the following requirements:
- You are the owner and resident of the property for which you are applying for the loan.
- Your home is in the Netherlands.
- The term of the loan is a minimum of 5 and a maximum of 15 years.
Personal homeowners loan
If you want to borrow money for a home renovation or if you want to save energy, a personal payday loan is a good option for homeowners! Borrowing money for your sustainable housing needs is more than worth the investment.
Moreover, with a personal payday loan you also enjoy a tax benefit. Another advantage is that a personal payday loan often has a shorter duration than a second mortgage and you do not have to go to the notary as when taking out a second mortgage.
Do you want more advice about which financing option is the best option for you?